ACNB Corporation (NASDAQ:ACNB – Get Free Report) shares hit a new 52-week high on Wednesday after the company announced a dividend. The stock traded as high as $65.27 and last traded at $64.56, with a volume of 96067 shares changing hands. The stock had previously closed at $64.00.
The newly announced dividend which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.68 annualized dividend and a dividend yield of 2.6%. ACNB’s dividend payout ratio is presently 31.88%.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on ACNB shares. Hovde Group raised their target price on shares of ACNB from $57.00 to $64.00 and gave the stock a “market perform” rating in a research note on Monday. Weiss Ratings reiterated a “buy (b)” rating on shares of ACNB in a research note on Tuesday, July 21st. Piper Sandler increased their price target on shares of ACNB from $58.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Finally, Wall Street Zen downgraded shares of ACNB from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, ACNB currently has an average rating of “Hold” and a consensus target price of $64.50.
ACNB Trading Up 0.5%
The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 0.94. The stock has a market capitalization of $651.70 million, a price-to-earnings ratio of 12.11 and a beta of 0.87. The business has a fifty day simple moving average of $58.35 and a 200 day simple moving average of $53.07.
ACNB (NASDAQ:ACNB – Get Free Report) last posted its earnings results on Thursday, July 23rd. The bank reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.11. The company had revenue of $42.82 million during the quarter, compared to the consensus estimate of $42.21 million. ACNB had a return on equity of 13.83% and a net margin of 27.15%. As a group, research analysts expect that ACNB Corporation will post 5.72 EPS for the current year.
Institutional Trading of ACNB
Hedge funds and other institutional investors have recently bought and sold shares of the business. First United Bank & Trust acquired a new position in shares of ACNB during the 1st quarter worth approximately $47,000. Russell Investments Group Ltd. acquired a new stake in shares of ACNB in the third quarter valued at approximately $45,000. BNP Paribas Financial Markets raised 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 valued at $44,000 after buying an additional 374 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in shares of ACNB in the first quarter valued at approximately $71,000. Finally, Tower Research Capital LLC TRC boosted its stake 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 valued at $74,000 after buying an additional 856 shares during the period. Institutional investors and hedge funds own 32.35% of the company’s stock.
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.
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