ACNB (NASDAQ:ACNB) Hits New 52-Week High – Should You Buy?

ACNB Corporation (NASDAQ:ACNB) reached a new 52-week high during mid-day trading on Wednesday. The company traded as high as $68.23 and last traded at $67.5280, with a volume of 2,831 shares. The stock had previously closed at $67.12.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ACNB shares. Weiss Ratings restated a “buy (b)” rating on shares of ACNB in a research report on Monday, October 19th. Hovde Group increased their price objective on ACNB from $57.00 to $64.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $64.50.

ACNB Stock Performance

The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.51. The firm has a fifty day moving average of $64.30 and a 200-day moving average of $57.05. The stock has a market capitalization of $666.03 million, a price-to-earnings ratio of 12.13 and a beta of 0.90.

ACNB (NASDAQ:ACNB) last issued its quarterly earnings data on Thursday, October 22nd. The bank reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.08. ACNB had a net margin of 27.16% and a return on equity of 13.87%. The firm had revenue of $43.81 million for the quarter, compared to analysts’ expectations of $43.02 million. As a group, sell-side analysts anticipate that ACNB Corporation will post 5.81 EPS for the current year.

ACNB Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, December 1st. ACNB’s dividend payout ratio (DPR) is presently 31.11%.

Institutional Trading of ACNB

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in ACNB in the 2nd quarter valued at about $41,871,000. Dimensional Fund Advisors LP raised its stake in shares of ACNB by 4.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 334,844 shares of the bank’s stock valued at $16,029,000 after acquiring an additional 14,789 shares during the period. The Manufacturers Life Insurance Company raised its position in ACNB by 11.9% in the first quarter. The Manufacturers Life Insurance Company now owns 162,978 shares of the bank’s stock valued at $7,802,000 after purchasing an additional 17,337 shares during the period. Empowered Funds LLC acquired a new position in ACNB during the 2nd quarter worth approximately $3,819,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of ACNB during the second quarter worth $2,461,000. 32.35% of the stock is owned by hedge funds and other institutional investors.

ACNB Company Profile

ACNB Corporation (NASDAQ: ACNB) is a financial holding company headquartered in Gettysburg, Pennsylvania. Its principal subsidiary, ACNB Bank, provides community banking services to individuals, families, farmers, and businesses.

ACNB Bank offers deposit accounts, residential and commercial real estate lending, consumer loans, agricultural financing, business banking, cash-management services, and online and mobile banking. Through affiliated businesses, the company also provides insurance and wealth-management services.

Founded in 1857, ACNB serves communities in south-central Pennsylvania and central Maryland through its banking offices and digital channels.