ACNB (NASDAQ:ACNB) Hits New 12-Month High – What’s Next?

ACNB Corporation (NASDAQ:ACNB) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $65.94 and last traded at $64.52, with a volume of 65315 shares trading hands. The stock had previously closed at $64.48.

Analyst Ratings Changes

Several brokerages have recently weighed in on ACNB. Wall Street Zen lowered shares of ACNB from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Hovde Group boosted their target price on shares of ACNB from $57.00 to $64.00 and gave the company a “market perform” rating in a report 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 given a Hold rating to the stock. According to MarketBeat.com, ACNB has an average rating of “Hold” and an average target price of $64.50.

ACNB Price Performance

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 firm has a market cap of $658.75 million, a price-to-earnings ratio of 12.24 and a beta of 0.86. The company’s fifty day moving average is $58.76 and its two-hundred day moving average is $53.30.

ACNB (NASDAQ:ACNB) last announced its quarterly 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. ACNB had a net margin of 27.15% and a return on equity of 13.83%. The firm had revenue of $42.82 million during the quarter, compared to analysts’ expectations of $42.21 million. Equities research analysts forecast that ACNB Corporation will post 5.72 EPS for the current year.

ACNB Dividend Announcement

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

Institutional Investors Weigh In On ACNB

Large investors have recently modified their holdings of the stock. First United Bank & Trust acquired a new position in ACNB during the 1st quarter worth approximately $47,000. Russell Investments Group Ltd. purchased a new stake in shares of ACNB during the third quarter valued at approximately $45,000. BNP Paribas Financial Markets raised its stake in shares of ACNB by 56.5% during the second quarter. BNP Paribas Financial Markets now owns 1,036 shares of the bank’s stock valued at $44,000 after purchasing an additional 374 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in shares of ACNB during the first quarter worth $71,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of ACNB by 98.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,727 shares of the bank’s stock worth $74,000 after purchasing an additional 856 shares in the last quarter. 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.