ACNB (NASDAQ:ACNB) Releases Earnings Results, Misses Estimates By $0.03 EPS

Key Points

• ACNB reported a quarterly EPS of $1.11, missing analysts' estimates by $0.03, although revenue was higher than expected at $39.69 million.
• The company announced a quarterly dividend of $0.34 per share, representing a yield of 3.18%, with the payout ratio at 46.90%.
• Wall Street analysts have upgraded ACNB from a "sell" to a "hold" rating, with a consensus target price of $48.40.

ACNB (NASDAQ:ACNB - Get Free Report) released its quarterly earnings results on Thursday. The bank reported $1.11 earnings per share for the quarter, missing analysts' consensus estimates of $1.14 by ($0.03), Zacks reports. The business had revenue of $39.69 million for the quarter, compared to analysts' expectations of $38.85 million. ACNB had a return on equity of 10.71% and a net margin of 15.64%.

ACNB Stock Down 1.6%

Shares of NASDAQ:ACNB traded down $0.71 during trading on Wednesday, hitting $42.46. 25,122 shares of the company were exchanged, compared to its average volume of 32,083. The stock has a market capitalization of $444.56 million, a P/E ratio of 15.78 and a beta of 0.84. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.95 and a quick ratio of 0.94. ACNB has a 12-month low of $35.37 and a 12-month high of $50.72. The firm's 50 day moving average price is $42.52 and its 200-day moving average price is $41.51.

ACNB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Friday, August 29th. ACNB's dividend payout ratio (DPR) is 50.56%.

Institutional Investors Weigh In On ACNB

A hedge fund recently bought a new stake in ACNB stock. Cubist Systematic Strategies LLC purchased a new position in shares of ACNB Corporation (NASDAQ:ACNB - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,178 shares of the bank's stock, valued at approximately $213,000. 32.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

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.