ACNB Corporation (NASDAQ:ACNB) Given Average Rating of “Hold” by Brokerages

ACNB Corporation (NASDAQ:ACNB) has been given a consensus recommendation of “Hold” by the five research firms that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $61.00.

A number of brokerages have commented on ACNB. Hovde Group cut shares of ACNB from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $56.00 to $57.00 in a research note on Wednesday, May 27th. Wall Street Zen downgraded shares of ACNB from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. Weiss Ratings upgraded ACNB from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Finally, Piper Sandler lifted their price target on shares of ACNB from $58.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th.

Institutional Trading of ACNB

A number of large investors have recently made changes to their positions in ACNB. First United Bank & Trust bought a new stake in shares of ACNB in the first quarter worth about $47,000. Russell Investments Group Ltd. acquired a new stake in ACNB in the 3rd quarter valued at $45,000. BNP Paribas Financial Markets raised its holdings in ACNB by 56.5% during the second quarter. BNP Paribas Financial Markets now owns 1,036 shares of the bank’s stock worth $44,000 after acquiring an additional 374 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of ACNB during the 1st quarter worth approximately $71,000. Finally, Tower Research Capital LLC TRC raised its position in 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 acquiring an additional 856 shares in the last quarter. Institutional investors own 32.35% of the company’s stock.

ACNB Stock Up 1.2%

NASDAQ ACNB opened at $60.32 on Thursday. The firm has a 50-day simple moving average of $56.32 and a 200 day simple moving average of $51.99. 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 has a twelve month low of $40.80 and a twelve month high of $61.72. The stock has a market cap of $615.87 million, a PE ratio of 12.34 and a beta of 0.87.

ACNB (NASDAQ:ACNB) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $1.32 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $41.07 million. On average, research analysts forecast that ACNB will post 5.49 EPS for the current year.

ACNB Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Monday, June 1st. This is an increase from ACNB’s previous quarterly dividend of $0.38. ACNB’s dividend payout ratio is presently 34.36%.

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.