ACNB (NASDAQ:ACNB) Reaches New 1-Year High - Still a Buy?

Key Points

• ACNB shares hit a new 52-week high, trading as high as $61.86 and up about 2.6% on the day. The move came with the stock well above its 50-day and 200-day moving averages.
• Analyst sentiment is mixed, but the consensus rating is Hold with a consensus price target of $61.00. Piper Sandler recently lifted its target to $65 and kept an overweight rating, while other firms were more cautious.
• The bank posted a better-than-expected quarterly EPS of $1.32 and recently raised its dividend to $0.42 per share, implying an annualized yield of 2.7%. Institutional investors also remain active in the stock, with 32.35% ownership.

Shares of ACNB Corporation (NASDAQ:ACNB - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $61.86 and last traded at $61.82, with a volume of 31536 shares traded. The stock had previously closed at $60.32.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ACNB. Weiss Ratings upgraded shares of ACNB from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, April 24th. Hovde Group downgraded shares of ACNB from an "outperform" rating to a "market perform" rating and boosted their price target for the stock from $56.00 to $57.00 in a research note on Wednesday, May 27th. Piper Sandler increased their price objective on shares of ACNB from $58.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, June 26th. Finally, Wall Street Zen lowered shares of ACNB from a "buy" rating to a "hold" rating in a report on Sunday, April 12th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $61.00.

ACNB Stock Up 2.6%

The firm's 50 day moving average is $56.32 and its two-hundred day moving average is $51.99. The firm has a market cap of $632.01 million, a P/E ratio of 12.62 and a beta of 0.87. 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 (NASDAQ:ACNB - Get Free Report) last issued its earnings results on Thursday, April 23rd. The bank reported $1.32 EPS for the quarter, beating the consensus estimate 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 Corporation will post 5.49 EPS for the current fiscal year.

ACNB Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a dividend of $0.42 per share. This is a boost from ACNB's previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a yield of 2.7%. The ex-dividend date was Monday, June 1st. ACNB's dividend payout ratio is presently 34.36%.

Institutional Investors Weigh In On ACNB

Large investors have recently modified their holdings of the business. Maltese Capital Management LLC boosted its stake in ACNB by 30.5% in the 4th quarter. Maltese Capital Management LLC now owns 66,164 shares of the bank's stock worth $3,199,000 after purchasing an additional 15,464 shares during the period. Empowered Funds LLC raised its stake in shares of ACNB by 9.6% in the 1st quarter. Empowered Funds LLC now owns 59,757 shares of the bank's stock valued at $2,861,000 after purchasing an additional 5,252 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of ACNB by 11.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 162,978 shares of the bank's stock valued at $7,802,000 after purchasing an additional 17,337 shares during the period. Cassaday & Co Wealth Management LLC bought a new stake in shares of ACNB in the first quarter valued at about $71,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of ACNB by 4.6% during the first quarter. Dimensional Fund Advisors LP now owns 334,844 shares of the bank's stock worth $16,029,000 after buying an additional 14,789 shares during the period. 32.35% of the stock is currently owned by institutional investors.

ACNB Company Profile

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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