ACNB Corporation (NASDAQ:ACNB) Given Average Recommendation of "Hold" by Brokerages

Key Points

• ACNB Corporation has a consensus analyst rating of "Hold" from five covering firms, with three holds and two buys. The average 12-month price target is $61.00.
• The stock recently traded near $60.32, close to its 52-week high of $61.72. ACNB also reported strong quarterly earnings of $1.32 EPS, beating estimates by $0.06.
• The company increased its quarterly dividend to $0.42 per share, or $1.68 annually, for a yield of about 2.8%. Its dividend payout ratio is currently 34.36%.

ACNB Corporation (NASDAQ:ACNB - Get Free Report) has been assigned a consensus recommendation of "Hold" from the five ratings firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $61.00.

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

ACNB Price Performance

Shares of ACNB stock opened at $60.32 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. ACNB has a twelve month low of $40.80 and a twelve month high of $61.72. The stock has a market capitalization of $615.87 million, a P/E ratio of 12.34 and a beta of 0.87. The business's fifty day moving average price is $56.32 and its 200 day moving average price is $51.99.

ACNB (NASDAQ:ACNB - Get Free Report) last posted its earnings results on Thursday, April 23rd. The bank reported $1.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.26 by $0.06. ACNB had a net margin of 25.66% and a return on equity of 13.15%. The firm had revenue of $40.79 million during the quarter, compared to the consensus estimate of $41.07 million. As a group, research analysts anticipate that ACNB will post 5.49 earnings per share for the current year.

ACNB Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.42 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.8%. This is a boost from ACNB's previous quarterly dividend of $0.38. ACNB's dividend payout ratio (DPR) is presently 34.36%.

Institutional Investors Weigh In On ACNB

Institutional investors and hedge funds have recently modified their holdings of the stock. Private Capital Management LLC lifted its position in shares of ACNB by 9.9% in the 3rd quarter. Private Capital Management LLC now owns 345,626 shares of the bank's stock valued at $15,221,000 after acquiring an additional 31,113 shares in the last quarter. Informed Momentum Co LLC purchased a new stake in shares of ACNB during the 4th quarter worth about $1,053,000. The Manufacturers Life Insurance Company raised its position in ACNB by 11.9% during the first quarter. The Manufacturers Life Insurance Company now owns 162,978 shares of the bank's stock valued at $7,802,000 after acquiring an additional 17,337 shares in the last quarter. Maltese Capital Management LLC raised its holdings in shares of ACNB by 30.5% during the 4th quarter. Maltese Capital Management LLC now owns 66,164 shares of the bank's stock valued at $3,199,000 after purchasing an additional 15,464 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in ACNB by 4.6% during the first quarter. Dimensional Fund Advisors LP now owns 334,844 shares of the bank's stock valued at $16,029,000 after buying an additional 14,789 shares in the last quarter. 32.35% of the stock is owned by institutional investors and hedge funds.

About ACNB

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.

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