ACNB Corporation (NASDAQ:ACNB) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of ACNB Corporation (NASDAQ:ACNB) have earned a consensus recommendation of “Hold” from the five brokerages that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $64.50.

ACNB has been the topic of several analyst reports. Piper Sandler increased their price objective on shares of ACNB from $58.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of ACNB in a report on Tuesday, July 21st. Finally, Hovde Group upped their target price on shares of ACNB from $57.00 to $64.00 and gave the company a “market perform” rating in a research report on Monday, July 27th.

Institutional Investors Weigh In On ACNB

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in ACNB during the second quarter worth about $41,871,000. The Manufacturers Life Insurance Company bought a new stake in shares of ACNB in the 2nd quarter valued at about $9,609,000. Bank of New York Mellon Corp bought a new stake in shares of ACNB in the 2nd quarter valued at about $2,461,000. Private Capital Management LLC raised its position in shares of ACNB by 9.9% in the 3rd quarter. Private Capital Management LLC now owns 345,626 shares of the bank’s stock valued at $15,221,000 after acquiring an additional 31,113 shares during the period. Finally, Informed Momentum Co LLC acquired a new stake in shares of ACNB in the 4th quarter valued at approximately $1,053,000. Institutional investors own 32.35% of the company’s stock.

ACNB Stock Performance

Shares of NASDAQ:ACNB opened at $64.93 on Monday. 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 has a 1-year low of $42.52 and a 1-year high of $65.94. The stock has a market capitalization of $660.34 million, a P/E ratio of 12.32 and a beta of 0.86. The business has a 50-day moving average price of $60.67 and a two-hundred day moving average price of $54.27.

ACNB (NASDAQ:ACNB) last issued its earnings results on Thursday, July 23rd. The bank reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.11. ACNB had a net margin of 27.15% and a return on equity of 13.78%. The company had revenue of $42.82 million for the quarter, compared to analyst estimates of $42.21 million. Equities analysts predict that ACNB will post 5.72 earnings per share for the current year.

ACNB Announces Dividend

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

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.