ACNB (NASDAQ:ACNB) Sets New 12-Month High - Should You Buy?

Key Points

• ACNB hit a new 52-week high intraday at $53.91 (last $53.81), and analysts are split (two Buys, two Holds) with a MarketBeat consensus of Moderate Buy and a $58 price target.
• The bank beat quarterly EPS estimates ($1.32 vs. $1.26), reported a 13.3% return on equity and a 25.66% net margin, though revenue of $40.79M was slightly below expectations.
• ACNB announced a dividend increase to $0.42 quarterly (annual $1.68, ~3.2% yield); the company has a market cap of about $548.6M, a P/E of 10.84, debt/equity of 0.61, and roughly 32% institutional ownership.

ACNB Corporation (NASDAQ:ACNB - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $53.91 and last traded at $53.81, with a volume of 2994 shares. The stock had previously closed at $53.23.

Wall Street Analysts Forecast Growth

ACNB has been the subject of several analyst reports. Weiss Ratings raised ACNB from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, April 24th. Wall Street Zen downgraded ACNB from a "buy" rating to a "hold" rating in a report on Sunday, April 12th. Piper Sandler reissued an "overweight" rating and issued a $58.00 target price (up from $57.00) on shares of ACNB in a report on Tuesday, April 28th. Finally, Zacks Research downgraded ACNB from a "strong-buy" rating to a "hold" rating in a report on Monday, March 9th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, ACNB presently has a consensus rating of "Moderate Buy" and a consensus price target of $58.00.

ACNB Price Performance

The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $548.55 million, a PE ratio of 10.84 and a beta of 0.87. The company has a fifty day moving average price of $49.20 and a two-hundred day moving average price of $49.06.

ACNB (NASDAQ:ACNB - Get Free Report) last posted its earnings results on Thursday, April 23rd. The bank reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.06. ACNB had a return on equity of 13.30% and a net margin of 25.66%.The business had revenue of $40.79 million during the quarter, compared to the consensus estimate of $41.07 million. Sell-side analysts forecast that ACNB Corporation will post 5.49 earnings per share for the current year.

ACNB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.68 annualized dividend and a yield of 3.2%. This is a boost from ACNB's previous quarterly dividend of $0.38. ACNB's dividend payout ratio (DPR) is currently 31.08%.

Institutional Trading of ACNB

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACNB. Private Capital Management LLC raised its stake in ACNB by 9.9% during 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 during the last quarter. Maltese Capital Management LLC raised its stake in ACNB by 112.3% during the 3rd quarter. Maltese Capital Management LLC now owns 50,700 shares of the bank's stock valued at $2,233,000 after acquiring an additional 26,820 shares during the last quarter. Informed Momentum Co LLC purchased a new stake in ACNB during the 4th quarter valued at approximately $1,053,000. Dimensional Fund Advisors LP raised its stake in ACNB by 4.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 334,844 shares of the bank's stock valued at $16,029,000 after acquiring an additional 14,789 shares during the last quarter. Finally, Millennium Management LLC purchased a new stake in ACNB during the 3rd quarter valued at approximately $414,000. 32.35% of the stock is owned by hedge funds and other 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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