ACNB (NASDAQ:ACNB) Shares Cross Above 50-Day Moving Average - Here's What Happened

ACNB Corporation (NASDAQ:ACNB - Get Free Report) shares passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $42.52 and traded as high as $44.61. ACNB shares last traded at $43.97, with a volume of 18,725 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ACNB shares. Wall Street Zen upgraded shares of ACNB from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. UBS Group set a $47.00 target price on shares of ACNB in a research note on Friday, March 21st. Finally, Raymond James Financial started coverage on shares of ACNB in a research note on Friday, March 21st. They issued an "outperform" rating and a $47.00 target price for the company. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $48.40.

ACNB Trading Up 0.2%

The firm's 50 day moving average is $42.60 and its 200 day moving average is $41.16. The company has a market cap of $462.36 million, a PE ratio of 15.23 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 (NASDAQ:ACNB - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The bank reported $1.03 EPS for the quarter, beating the consensus estimate of $0.94 by $0.09. The company had revenue of $34.27 million during the quarter, compared to analysts' expectations of $32.65 million. ACNB had a net margin of 17.22% and a return on equity of 10.95%. On average, equities analysts anticipate that ACNB Corporation will post 3.22 earnings per share for the current year.

ACNB Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.36 annualized dividend and a yield of 3.08%. This is a boost from ACNB's previous quarterly dividend of $0.32. ACNB's payout ratio is currently 46.90%.

Hedge Funds Weigh In On ACNB

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC grew its stake in ACNB by 431.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,505 shares of the bank's stock worth $60,000 after buying an additional 1,222 shares in the last quarter. Wells Fargo & Company MN grew its stake in ACNB by 29.7% in the 4th quarter. Wells Fargo & Company MN now owns 5,004 shares of the bank's stock worth $199,000 after buying an additional 1,147 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in ACNB in the 1st quarter worth approximately $203,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 buying an additional 234 shares in the last quarter. Finally, First Trust Advisors LP purchased a new position in ACNB in the 4th quarter worth approximately $207,000. Hedge funds and other institutional investors own 32.35% of the company's stock.

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.