ACNB Corporation (NASDAQ:ACNB) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Analyst sentiment is neutral: Five brokerages give ACNB an average “Hold” rating, with three holds and two buys. The average 12-month price target is $64.50, below the reported share price of $65.61.
• ACNB exceeded quarterly expectations: The bank reported $1.49 in quarterly EPS versus the $1.38 consensus estimate, while revenue reached $42.82 million compared with expectations of $42.21 million.
• Institutional ownership and dividends remain notable: Hedge funds and other institutions own 32.35% of ACNB, while the company declared a quarterly dividend of $0.42, equivalent to an annualized $1.68 payout and a 2.6% yield.

Shares of ACNB Corporation (NASDAQ:ACNB - Get Free Report) have received a consensus rating of "Hold" from the five ratings firms that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $64.50.

A number of brokerages recently issued reports on ACNB. Weiss Ratings restated a "buy (b)" rating on shares of ACNB in a report on Tuesday, July 21st. Hovde Group increased their price objective on ACNB from $57.00 to $64.00 and gave the stock a "market perform" rating in a report on Monday, July 27th. Finally, Piper Sandler lifted their price objective on ACNB from $58.00 to $65.00 and gave the stock an "overweight" rating in a research report on Friday, June 26th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ACNB. BlackRock Inc. bought a new position in ACNB in the 2nd quarter worth $41,871,000. Private Capital Management LLC boosted its stake in shares of ACNB by 7.3% during the 4th quarter. Private Capital Management LLC now owns 370,742 shares of the bank's stock valued at $17,925,000 after purchasing an additional 25,116 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of 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 purchasing an additional 14,789 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of ACNB by 11.9% during the first quarter. The Manufacturers Life Insurance Company now owns 162,978 shares of the bank's stock valued at $7,802,000 after buying an additional 17,337 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of ACNB by 0.8% during the second quarter. The Manufacturers Life Insurance Company now owns 148,523 shares of the bank's stock valued at $6,363,000 after buying an additional 1,224 shares during the period. 32.35% of the stock is owned by hedge funds and other institutional investors.

ACNB Trading Up 0.6%

Shares of ACNB opened at $65.61 on Friday. The stock has a market capitalization of $667.25 million, a P/E ratio of 12.45 and a beta of 0.86. ACNB has a twelve month low of $42.52 and a twelve month high of $67.60. 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 firm has a fifty day simple moving average of $62.73 and a two-hundred day simple moving average of $55.54.

ACNB (NASDAQ:ACNB - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.11. The firm had revenue of $42.82 million for the quarter, compared to analysts' expectations of $42.21 million. ACNB had a net margin of 27.15% and a return on equity of 13.78%. On average, research analysts anticipate that ACNB will post 5.72 EPS for the current year.

ACNB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.68 dividend on an annualized basis and a yield of 2.6%. ACNB's dividend payout ratio (DPR) is presently 31.88%.

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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