ACNB (NASDAQ:ACNB) Hits New 52-Week High – Here’s What Happened

ACNB Corporation (NASDAQ:ACNB)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $55.01 and last traded at $53.2810, with a volume of 155 shares changing hands. The stock had previously closed at $53.34.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $58.00 price objective (up from $57.00) on shares of ACNB in a research note on Tuesday, April 28th. Zacks Research lowered shares of ACNB from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Wall Street Zen cut shares of ACNB from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Finally, Weiss Ratings raised shares of ACNB from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.00.

ACNB Stock Down 0.0%

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 company has a market capitalization of $544.40 million, a PE ratio of 10.90 and a beta of 0.87. The company’s 50 day moving average is $49.59 and its two-hundred day moving average is $49.53.

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

ACNB Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.42 per share. The ex-dividend date is Monday, June 1st. This represents a $1.68 annualized dividend and a yield of 3.2%. This is a boost from ACNB’s previous quarterly dividend of $0.38. ACNB’s dividend payout ratio (DPR) is 31.08%.

Institutional Trading of ACNB

Several hedge funds have recently modified their holdings of the company. Empowered Funds LLC grew its holdings in shares of ACNB by 9.6% in the first quarter. Empowered Funds LLC now owns 59,757 shares of the bank’s stock valued at $2,861,000 after purchasing an additional 5,252 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in ACNB by 11.9% during the first quarter. The Manufacturers Life Insurance Company now owns 162,978 shares of the bank’s stock valued at $7,802,000 after purchasing an additional 17,337 shares in the last quarter. Quantinno Capital Management LP raised its stake in ACNB by 23.7% during the first quarter. Quantinno Capital Management LP now owns 13,012 shares of the bank’s stock valued at $623,000 after purchasing an additional 2,490 shares in the last quarter. Renaissance Technologies LLC lifted its position in ACNB by 30.9% during the first quarter. Renaissance Technologies LLC now owns 24,556 shares of the bank’s stock valued at $1,175,000 after purchasing an additional 5,800 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of ACNB in the 1st quarter worth $71,000. 32.35% of the stock is owned by hedge funds and other 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.