ACNB (NASDAQ:ACNB) Reaches New 12-Month High – Still a Buy?

ACNB Corporation (NASDAQ:ACNB) hit a new 52-week high during trading on Thursday . The stock traded as high as $57.16 and last traded at $57.08, with a volume of 47487 shares trading hands. The stock had previously closed at $56.13.

Analyst Ratings Changes

ACNB has been the subject of several recent research reports. Zacks Research cut ACNB from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Piper Sandler reissued an “overweight” rating and set a $58.00 price target (up from $57.00) on shares of ACNB in a research report on Tuesday, April 28th. Hovde Group cut ACNB from an “outperform” rating to a “market perform” rating and increased their price target for the company from $56.00 to $57.00 in a research report on Wednesday, May 27th. Weiss Ratings raised ACNB from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Finally, Wall Street Zen cut ACNB from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, ACNB currently has an average rating of “Hold” and an average price target of $57.50.

ACNB Stock Performance

The company has a market capitalization of $582.90 million, a price-to-earnings ratio of 11.67 and a beta of 0.88. The stock has a 50-day moving average price of $52.18 and a 200-day moving average price of $50.48. 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, April 23rd. The bank reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.06. ACNB had a return on equity of 13.15% and a net margin of 25.66%.The company had revenue of $40.79 million during the quarter, compared to analysts’ expectations of $41.07 million. As a group, analysts forecast that ACNB Corporation will post 5.49 earnings per share for the current year.

ACNB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a $0.42 dividend. The ex-dividend date of this dividend is Monday, June 1st. This is a positive change from ACNB’s previous quarterly dividend of $0.38. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.9%. ACNB’s payout ratio is 34.36%.

Institutional Trading of ACNB

A number of hedge funds have recently made changes to their positions in the business. Private Capital Management LLC lifted its position in shares of ACNB by 7.3% in the fourth quarter. Private Capital Management LLC now owns 370,742 shares of the bank’s stock valued at $17,925,000 after buying an additional 25,116 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in ACNB by 4.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 334,844 shares of the bank’s stock worth $16,029,000 after purchasing an additional 14,789 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in ACNB by 11.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 162,978 shares of the bank’s stock worth $7,802,000 after purchasing an additional 17,337 shares during the last quarter. Bridgeway Capital Management LLC lifted its holdings in ACNB by 5.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 105,905 shares of the bank’s stock worth $5,121,000 after purchasing an additional 5,218 shares during the last quarter. Finally, Maltese Capital Management LLC lifted its holdings in ACNB by 30.5% during the 4th quarter. Maltese Capital Management LLC now owns 66,164 shares of the bank’s stock worth $3,199,000 after purchasing an additional 15,464 shares during the last quarter. 32.35% of the stock is owned by institutional investors and hedge funds.

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.