ACNB (NASDAQ:ACNB) Hits New 1-Year High – Should You Buy?

ACNB Corporation (NASDAQ:ACNB) shares reached a new 52-week high on Thursday . The company traded as high as $57.16 and last traded at $57.08, with a volume of 47487 shares traded. The stock had previously closed at $56.13.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ACNB. Hovde Group downgraded ACNB from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $56.00 to $57.00 in a report on Wednesday, May 27th. Zacks Research downgraded ACNB from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Weiss Ratings raised ACNB from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Wall Street Zen downgraded ACNB from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Finally, Piper Sandler reissued an “overweight” rating and set a $58.00 target price (up from $57.00) on shares of ACNB in a report on Tuesday, April 28th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $57.50.

ACNB Stock Up 0.9%

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 company has a market cap of $587.08 million, a P/E ratio of 11.76 and a beta of 0.88. The stock has a 50-day moving average of $52.55 and a 200 day moving average of $50.59.

ACNB (NASDAQ:ACNB) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.06. ACNB had a return on equity of 13.15% and a net margin of 25.66%.The company had revenue of $40.79 million for the quarter, compared to analysts’ expectations of $41.07 million. Research analysts anticipate that ACNB Corporation will post 5.49 earnings per share for the current year.

ACNB Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a $0.42 dividend. The ex-dividend date is Monday, June 1st. This is an increase from ACNB’s previous quarterly dividend of $0.38. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.9%. ACNB’s dividend payout ratio (DPR) is 34.36%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. First United Bank & Trust bought a new position in shares of ACNB in the first quarter worth $47,000. Russell Investments Group Ltd. bought a new position in shares of ACNB in the third quarter worth $45,000. BNP Paribas Financial Markets increased its position in shares of ACNB by 56.5% in the second quarter. BNP Paribas Financial Markets now owns 1,036 shares of the bank’s stock worth $44,000 after purchasing an additional 374 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in shares of ACNB in the first quarter worth $71,000. Finally, Tower Research Capital LLC TRC increased its position in shares of ACNB by 98.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,727 shares of the bank’s stock worth $74,000 after purchasing an additional 856 shares during the period. Institutional investors own 32.35% of the company’s stock.

About ACNB

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.