ACNB Corporation (NASDAQ:ACNB) Receives $64.50 Average Price Target from Analysts

Shares of ACNB Corporation (NASDAQ:ACNB – Get Free Report) have received an average rating of “Hold” from the five research firms that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $64.50.

Several equities analysts have issued reports on ACNB shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of ACNB in a report on Tuesday, July 21st. Piper Sandler upped their target price on ACNB from $58.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. Finally, Hovde Group raised their price target on ACNB from $57.00 to $64.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th.

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Hedge Funds Weigh In On ACNB

A number of hedge funds have recently modified their holdings of ACNB. Cubist Systematic Strategies LLC purchased a new stake in ACNB in the 1st quarter valued at $213,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in ACNB by 5.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,942 shares of the bank’s stock worth $203,000 after purchasing an additional 234 shares during the last quarter. Rhumbline Advisers increased its stake in ACNB by 31.9% in the second quarter. Rhumbline Advisers now owns 15,515 shares of the bank’s stock valued at $665,000 after purchasing an additional 3,749 shares during the period. First Trust Advisors LP increased its stake in ACNB by 5.2% in the second quarter. First Trust Advisors LP now owns 6,725 shares of the bank’s stock valued at $288,000 after purchasing an additional 334 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of ACNB by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 148,523 shares of the bank’s stock valued at $6,363,000 after buying an additional 1,224 shares during the last quarter. 32.35% of the stock is currently owned by hedge funds and other institutional investors.

ACNB Trading Up 0.2%

NASDAQ ACNB opened at $64.52 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.94 and a quick ratio of 0.93. The firm’s fifty day moving average price is $60.25 and its 200 day moving average price is $54.04. The company has a market capitalization of $656.17 million, a price-to-earnings ratio of 12.24 and a beta of 0.86. ACNB has a 12 month low of $42.52 and a 12 month high of $65.94.

ACNB (NASDAQ:ACNB – Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.11. ACNB had a net margin of 27.15% and a return on equity of 13.78%. The firm had revenue of $42.82 million during the quarter, compared to analysts’ expectations of $42.21 million. On average, sell-side analysts expect that ACNB will post 5.72 earnings per share for the current fiscal year.

ACNB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.42 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.68 dividend on an annualized basis and a yield of 2.6%. ACNB’s payout ratio is currently 31.88%.

About ACNB

(Get Free Report)

ACNB Corporation is the bank holding company for ACNB Bank, a community-focused financial institution headquartered in Gettysburg, Pennsylvania. Tracing its roots to a local banking organization established in the 19th century, the company has evolved into a regional banking franchise serving individuals, families and businesses across south-central Pennsylvania. As a publicly traded company on NASDAQ under the ticker ACNB, it operates under a traditional community banking model, emphasizing personal service and local decision-making.

The company’s main business activities encompass a full range of retail and commercial banking products.

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