ACNB Corporation Announces Quarterly Dividend of $0.34 (NASDAQ:ACNB)

ACNB Corporation (NASDAQ:ACNB - Get Free Report) declared a quarterly dividend on Thursday, July 24th, RTT News reports. Shareholders of record on Monday, September 1st will be paid a dividend of 0.34 per share by the bank on Monday, September 15th. This represents a $1.36 dividend on an annualized basis and a yield of 3.19%.

ACNB has a dividend payout ratio of 29.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect ACNB to earn $4.60 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 29.6%.

ACNB Trading Down 0.8%

ACNB stock traded down $0.33 during midday trading on Thursday, reaching $42.68. The company's stock had a trading volume of 1,741 shares, compared to its average volume of 32,195. ACNB has a 52 week low of $35.37 and a 52 week high of $50.72. The stock has a market cap of $446.86 million, a PE ratio of 14.75 and a beta of 0.84. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.66. The business's 50-day simple moving average is $42.63 and its 200-day simple moving average is $41.35.

ACNB (NASDAQ:ACNB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The bank reported $1.11 EPS for the quarter, missing analysts' consensus estimates of $1.14 by ($0.03). ACNB had a return on equity of 10.95% and a net margin of 17.22%. As a group, sell-side analysts expect that ACNB will post 3.22 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of ACNB from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $48.40.

Hedge Funds Weigh In On ACNB

A hedge fund recently raised its stake in ACNB stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of ACNB Corporation (NASDAQ:ACNB - Free Report) by 5.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,942 shares of the bank's stock after acquiring an additional 234 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in ACNB were worth $203,000 as of its most recent SEC filing. 32.35% of the stock is currently owned by institutional investors and hedge funds.

About ACNB

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.