ACNB (NASDAQ:ACNB) Sets New 12-Month High – Time to Buy?

ACNB Corporation (NASDAQ:ACNB) reached a new 52-week high on Tuesday . The stock traded as high as $48.90 and last traded at $48.40, with a volume of 3474 shares. The stock had previously closed at $48.16.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ACNB shares. Piper Sandler lifted their price target on ACNB from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Raymond James Financial lowered ACNB from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 7th. Zacks Research upgraded ACNB from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of ACNB in a research note on Monday, November 17th. Finally, Wall Street Zen raised shares of ACNB from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $48.67.

ACNB Price Performance

The firm has a market cap of $511.88 million, a P/E ratio of 15.01 and a beta of 0.95. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.65. The business has a 50-day moving average of $45.16 and a two-hundred day moving average of $43.95.

ACNB (NASDAQ:ACNB) last posted its earnings results on Thursday, October 23rd. The bank reported $1.42 EPS for the quarter, beating the consensus estimate of $1.20 by $0.22. ACNB had a return on equity of 11.95% and a net margin of 18.47%.The firm had revenue of $40.54 million during the quarter, compared to the consensus estimate of $39.83 million. On average, sell-side analysts anticipate that ACNB Corporation will post 3.22 earnings per share for the current fiscal year.

ACNB Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.38 per share. The ex-dividend date is Monday, December 1st. This represents a $1.52 annualized dividend and a yield of 3.1%. This is a boost from ACNB’s previous quarterly dividend of $0.34. ACNB’s dividend payout ratio is 46.48%.

Hedge Funds Weigh In On ACNB

A number of hedge funds have recently modified their holdings of the business. Allworth Financial LP increased its holdings in ACNB by 42.9% in the second quarter. Allworth Financial LP now owns 1,000 shares of the bank’s stock valued at $43,000 after purchasing an additional 300 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of ACNB in the 3rd quarter valued at about $45,000. BNP Paribas Financial Markets increased its stake in shares of 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 buying an additional 374 shares during the period. Tripletail Wealth Management LLC acquired a new stake in shares of ACNB in the third quarter valued at about $46,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of ACNB by 98.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,727 shares of the bank’s stock worth $74,000 after acquiring an additional 856 shares during the period. Institutional investors and hedge funds own 32.35% of the company’s stock.

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.