161,818 Shares in ACNB Corporation $ACNB Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new stake in shares of ACNB Corporation (NASDAQ:ACNB) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 161,818 shares of the bank’s stock, valued at approximately $9,609,000.

Other large investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its stake in ACNB by 56.5% in the second quarter. BNP Paribas Financial Markets now owns 1,036 shares of the bank’s stock valued at $44,000 after acquiring an additional 374 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of ACNB during the 3rd quarter worth approximately $45,000. First United Bank & Trust bought a new stake in shares of ACNB in the 1st quarter worth approximately $47,000. Allworth Financial LP bought a new position in ACNB during the second quarter valued at $66,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in ACNB during the first quarter valued at $71,000. Hedge funds and other institutional investors own 32.35% of the company’s stock.

ACNB Stock Performance

NASDAQ:ACNB opened at $64.51 on Friday. The business’s fifty day moving average is $62.17 and its 200 day moving average is $55.16. The firm has a market cap of $656.07 million, a price-to-earnings ratio of 12.24 and a beta of 0.86. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 0.94. ACNB Corporation has a 52-week low of $42.52 and a 52-week high of $65.94.

ACNB (NASDAQ:ACNB) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $1.49 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 firm had revenue of $42.82 million during the quarter, compared to the consensus estimate of $42.21 million. Research analysts predict that ACNB Corporation will post 5.72 EPS for the current year.

ACNB Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Piper Sandler boosted their target price on ACNB from $58.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Weiss Ratings restated a “buy (b)” rating on shares of ACNB in a research note on Tuesday, July 21st. Finally, Hovde Group upped their price objective 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. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, ACNB presently has a consensus rating of “Hold” and an average target price of $64.50.

ACNB 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.