ACNB Corporation (NASDAQ:ACNB) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Analysts have a consensus “Hold” rating on ACNB, with three holds and two buys. The average 12-month price target is $64.50, close to the stock’s reported opening price of $64.38.
• ACNB exceeded quarterly expectations, reporting $1.49 in EPS versus the $1.38 consensus estimate and revenue of $42.82 million compared with $42.21 million expected.
• The company declared a quarterly dividend of $0.42 per share, equivalent to $1.68 annually and a 2.6% yield; institutional investors own 32.35% of outstanding shares.

Shares of ACNB Corporation (NASDAQ:ACNB - Get Free Report) have been assigned an average rating of "Hold" from the five analysts that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $64.50.

Several research firms have issued reports on ACNB. Hovde Group increased their target price on ACNB from $57.00 to $64.00 and gave the stock a "market perform" rating in a research report on Monday, July 27th. Piper Sandler lifted their price target on ACNB from $58.00 to $65.00 and gave the company an "overweight" rating in a research report on Friday, June 26th. Weiss Ratings reiterated a "buy (b)" rating on shares of ACNB in a research note on Tuesday, July 21st. Finally, Wall Street Zen cut ACNB from a "buy" rating to a "hold" rating in a report on Sunday, April 12th.

ACNB Stock Performance

NASDAQ ACNB opened at $64.38 on Monday. The firm has a market cap of $657.32 million, a P/E ratio of 12.22 and a beta of 0.86. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.51. The company's 50 day moving average is $59.59 and its 200-day moving average is $53.74. ACNB has a 12-month low of $42.10 and a 12-month high of $65.94.

ACNB (NASDAQ:ACNB - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $1.49 EPS for the quarter, topping the consensus estimate of $1.38 by $0.11. ACNB had a net margin of 27.15% and a return on equity of 13.78%. The company had revenue of $42.82 million during the quarter, compared to the consensus estimate of $42.21 million. Sell-side analysts predict that ACNB will post 5.72 earnings per share for the current year.

ACNB Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.42 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.68 annualized dividend and a dividend yield of 2.6%. ACNB's dividend payout ratio is currently 31.88%.

Hedge Funds Weigh In On ACNB

Large investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC purchased a new position in ACNB during the first quarter valued at approximately $213,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in ACNB by 5.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,942 shares of the bank's stock worth $203,000 after purchasing an additional 234 shares in the last quarter. Rhumbline Advisers boosted its holdings in ACNB by 31.9% in the 2nd quarter. Rhumbline Advisers now owns 15,515 shares of the bank's stock valued at $665,000 after purchasing an additional 3,749 shares during the period. First Trust Advisors LP boosted its holdings in ACNB by 5.2% in the 2nd quarter. First Trust Advisors LP now owns 6,725 shares of the bank's stock valued at $288,000 after purchasing an additional 334 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of ACNB by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 148,523 shares of the bank's stock valued at $6,363,000 after purchasing an additional 1,224 shares in the last quarter. 32.35% of the stock is currently owned by institutional investors.

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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