Analysts Set ACNB Corporation (NASDAQ:ACNB) PT at $57.50

ACNB Corporation (NASDAQ:ACNB) has earned an average rating of “Hold” from the five analysts that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $57.50.

Several equities analysts have weighed in on the company. Piper Sandler reissued an “overweight” rating and set a $58.00 price objective (up from $57.00) on shares of ACNB in a report on Tuesday, April 28th. Weiss Ratings raised ACNB from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Hovde Group lowered ACNB from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $56.00 to $57.00 in a report on Wednesday, May 27th. Wall Street Zen lowered ACNB from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Finally, Zacks Research lowered ACNB from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th.

ACNB Price Performance

Shares of NASDAQ ACNB opened at $58.39 on Friday. The stock has a fifty day simple moving average of $53.85 and a two-hundred day simple moving average of $51.14. ACNB has a 1-year low of $40.80 and a 1-year high of $59.12. The firm has a market cap of $596.16 million, a price-to-earnings ratio of 11.94 and a beta of 0.88. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51.

ACNB (NASDAQ:ACNB) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.06. ACNB had a return on equity of 13.15% and a net margin of 25.66%.The business had revenue of $40.79 million during the quarter, compared to analyst estimates of $41.07 million. Analysts anticipate that ACNB will post 5.49 earnings per share for the current year.

ACNB Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a $0.42 dividend. The ex-dividend date of this dividend was 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 is 34.36%.

Hedge Funds Weigh In On ACNB

A number of large investors have recently made changes to their positions in ACNB. BNP Paribas Financial Markets boosted its holdings 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 acquiring an additional 374 shares during the period. Russell Investments Group Ltd. bought a new position in shares of ACNB in the third quarter worth $45,000. First United Bank & Trust bought a new stake in ACNB during the first quarter valued at $47,000. Cassaday & Co Wealth Management LLC bought a new stake in ACNB during the first quarter valued at $71,000. Finally, Tower Research Capital LLC TRC boosted its stake in ACNB by 98.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,727 shares of the bank’s stock valued at $74,000 after buying an additional 856 shares during the period. 32.35% of the stock is owned by institutional investors.

ACNB Company Profile

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.