Bridgeway Capital Management LLC Raises Position in ACNB Co. (NASDAQ:ACNB)

Bridgeway Capital Management LLC lifted its stake in shares of ACNB Co. (NASDAQ:ACNB) by 2.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 101,187 shares of the bank’s stock after buying an additional 2,379 shares during the period. Bridgeway Capital Management LLC’s holdings in ACNB were worth $4,030,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in ACNB by 145.4% during the 4th quarter. JPMorgan Chase & Co. now owns 27,362 shares of the bank’s stock valued at $1,090,000 after acquiring an additional 16,214 shares in the last quarter. Citadel Advisors LLC lifted its position in shares of ACNB by 117.7% during the fourth quarter. Citadel Advisors LLC now owns 23,536 shares of the bank’s stock valued at $937,000 after purchasing an additional 12,727 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in ACNB by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 273,669 shares of the bank’s stock worth $10,900,000 after purchasing an additional 10,796 shares during the last quarter. American Century Companies Inc. grew its position in ACNB by 9.1% in the 4th quarter. American Century Companies Inc. now owns 101,437 shares of the bank’s stock worth $4,040,000 after purchasing an additional 8,486 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in ACNB by 6.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 124,228 shares of the bank’s stock valued at $4,948,000 after buying an additional 8,032 shares during the last quarter. Institutional investors own 32.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Raymond James initiated coverage on ACNB in a research note on Friday, March 21st. They issued an “outperform” rating and a $47.00 target price on the stock. StockNews.com lowered shares of ACNB from a “hold” rating to a “sell” rating in a research report on Monday, April 28th. UBS Group set a $47.00 price objective on shares of ACNB in a research report on Friday, March 21st. Finally, Piper Sandler raised shares of ACNB from a “neutral” rating to an “overweight” rating and increased their target price for the company from $37.00 to $50.00 in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $48.40.

ACNB Stock Down 1.1 %

Shares of NASDAQ:ACNB opened at $42.21 on Thursday. ACNB Co. has a 1 year low of $30.24 and a 1 year high of $50.72. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.94 and a quick ratio of 0.94. The stock’s 50-day moving average is $40.92 and its 200 day moving average is $42.03. The company has a market cap of $444.97 million, a PE ratio of 11.32 and a beta of 0.83.

ACNB (NASDAQ:ACNB) last announced its earnings results on Thursday, April 24th. The bank reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.09. The company had revenue of $34.27 million during the quarter, compared to the consensus estimate of $32.65 million. ACNB had a return on equity of 10.91% and a net margin of 24.09%. Sell-side analysts anticipate that ACNB Co. will post 3.22 EPS for the current year.

ACNB Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.34 per share. This is a positive change from ACNB’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.22%. ACNB’s payout ratio is presently 46.90%.

ACNB Company Profile

ACNB Corporation, a financial holding company, offers banking, insurance, and financial services to individual, business, and government customers in the United States. The company provides checking, savings, and money market deposit accounts, as well as time deposits and debit cards. It also offers commercial lending products, such as commercial mortgages, real estate development and construction loans, accounts receivable and inventory financing, and agricultural and governmental loans; consumer lending products, including home equity loans and lines of credit, automobile and recreational vehicle loans, manufactured housing loans, and personal lines of credit; and mortgage lending programs include personal residential mortgages, and residential construction and investment mortgage loans.