ACNB Corporation (NASDAQ:ACNB) Plans $0.34 Quarterly Dividend

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 given 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 3.14%. The ex-dividend date is Friday, August 29th.

ACNB has a dividend payout ratio of 29.7% meaning its dividend is sufficiently covered by earnings. Equities research 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 Up 1.5%

Shares of ACNB stock traded up $0.65 during trading on Monday, reaching $43.36. The company's stock had a trading volume of 15,947 shares, compared to its average volume of 32,208. The firm's 50-day moving average is $42.55 and its two-hundred day moving average is $41.46. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.66. ACNB has a 52-week low of $35.37 and a 52-week high of $50.72. The company has a market cap of $454.15 million, a price-to-earnings ratio of 16.12 and a beta of 0.84.

ACNB (NASDAQ:ACNB - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The bank reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.03). The business had revenue of $39.69 million for the quarter, compared to analysts' expectations of $38.85 million. ACNB had a net margin of 15.64% and a return on equity of 10.71%. On average, sell-side analysts anticipate that ACNB will post 3.22 earnings per share for the current year.

Hedge Funds Weigh In On ACNB

An institutional investor recently raised its position in ACNB stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in 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 and Exchange Commission. The fund owned 4,942 shares of the bank's stock after buying an additional 234 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in ACNB were worth $203,000 at the end of the most recent reporting period. 32.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of ACNB from a "sell" rating to a "hold" rating in a report on Monday, May 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, ACNB currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.40.

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.