Van Hulzen Asset Management LLC Acquires New Holdings in ACNB Corporation $ACNB

Van Hulzen Asset Management LLC bought a new stake in ACNB Corporation (NASDAQ:ACNB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,003 shares of the bank’s stock, valued at approximately $772,000. Van Hulzen Asset Management LLC owned approximately 0.13% of ACNB as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of ACNB during the second quarter worth $41,871,000. Private Capital Management LLC raised its stake in ACNB by 7.3% during the 4th quarter. Private Capital Management LLC now owns 370,742 shares of the bank’s stock worth $17,925,000 after buying an additional 25,116 shares during the period. Dimensional Fund Advisors LP raised its stake in ACNB by 4.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 334,844 shares of the bank’s stock worth $16,029,000 after buying an additional 14,789 shares during the period. The Manufacturers Life Insurance Company raised its stake in ACNB by 11.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 162,978 shares of the bank’s stock worth $7,802,000 after buying an additional 17,337 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in ACNB by 0.8% during the second quarter. The Manufacturers Life Insurance Company now owns 148,523 shares of the bank’s stock worth $6,363,000 after acquiring an additional 1,224 shares in the last quarter. 32.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Piper Sandler boosted their target price on ACNB from $58.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of ACNB in a research report on Tuesday, July 21st. Finally, Hovde Group lifted their price objective on ACNB from $57.00 to $64.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $64.50.

ACNB Stock Down 0.0%

Shares of ACNB stock opened at $64.44 on Tuesday. ACNB Corporation has a 12-month low of $42.52 and a 12-month high of $65.94. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.51. The firm has a fifty day moving average of $61.56 and a 200-day moving average of $54.85. The company has a market capitalization of $655.35 million, a price-to-earnings ratio of 12.23 and a beta of 0.86.

ACNB (NASDAQ:ACNB) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $1.49 EPS for the quarter, beating the consensus estimate of $1.38 by $0.11. The business had revenue of $42.82 million for the quarter, compared to analysts’ expectations of $42.21 million. ACNB had a net margin of 27.15% and a return on equity of 13.78%. As a group, equities research analysts predict that ACNB Corporation will post 5.72 earnings per share for the current fiscal year.

ACNB Announces Dividend

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

ACNB 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.