64,319 Shares in ACNB Corporation $ACNB Purchased by Empowered Funds LLC

Empowered Funds LLC acquired a new position in ACNB Corporation (NASDAQ:ACNB) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 64,319 shares of the bank’s stock, valued at approximately $3,819,000. Empowered Funds LLC owned 0.63% of ACNB at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of ACNB during the 2nd quarter worth approximately $41,871,000. The Manufacturers Life Insurance Company purchased a new position in shares of ACNB in the 2nd quarter valued at approximately $9,609,000. Bank of New York Mellon Corp purchased a new position in shares of ACNB in the 2nd quarter valued at approximately $2,461,000. Private Capital Management LLC boosted its position in shares of ACNB by 9.9% during the third quarter. Private Capital Management LLC now owns 345,626 shares of the bank’s stock valued at $15,221,000 after purchasing an additional 31,113 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of ACNB during the second quarter valued at approximately $1,847,000. 32.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ACNB has been the topic of several recent research reports. Hovde Group upped their price target on ACNB from $57.00 to $64.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Piper Sandler boosted their target price 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, Weiss Ratings reaffirmed a “buy (b)” rating on shares of ACNB in a research report on Tuesday, July 21st. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $64.50.

ACNB Stock Performance

Shares of ACNB stock opened at $63.98 on Wednesday. ACNB Corporation has a 1 year low of $42.52 and a 1 year high of $66.53. The firm’s 50-day moving average is $62.45 and its 200 day moving average is $55.35. The stock has a market cap of $650.68 million, a price-to-earnings ratio of 12.14 and a beta of 0.86. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.94 and a quick ratio of 0.93.

ACNB (NASDAQ:ACNB) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.11. The business had revenue of $42.82 million during the quarter, compared to analyst estimates of $42.21 million. ACNB had a net margin of 27.15% and a return on equity of 13.78%. Sell-side analysts anticipate that ACNB Corporation will post 5.72 EPS 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 dividend of $0.42 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.6%. ACNB’s dividend payout ratio is presently 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.