ACNB Corporation (NASDAQ:ACNB) Shareholders to Get $0.75 Special Dividend

Key Points

• ACNB declared a $0.75 special dividend per share for shareholders of record on December 1, payable December 15; the ex-dividend date is December 1.
• The bank’s dividend appears well covered, with a 36.7% payout ratio and analysts expecting $5.72 in annual earnings per share, versus a regular annual dividend of $1.68.
• ACNB exceeded quarterly earnings expectations, reporting $1.55 EPS and $43.81 million in revenue; analysts maintain a “Moderate Buy” consensus with an average target price of $64.50.

ACNB Corporation (NASDAQ:ACNB - Get Free Report) announced a special dividend on Wednesday, October 28th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.75 per share by the bank on Tuesday, December 15th. The ex-dividend date is Tuesday, December 1st.

ACNB has raised its dividend by an average of 0.1% annually over the last three years and has raised its dividend every year for the last 8 years. ACNB has a dividend payout ratio of 36.7% meaning its dividend is sufficiently covered by earnings. Analysts expect ACNB to earn $5.72 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 29.4%.

ACNB Stock Performance

Shares of ACNB stock opened at $65.12 on Thursday. The firm has a 50-day moving average of $64.05 and a 200-day moving average of $56.52. The company has a market cap of $662.27 million, a P/E ratio of 12.06 and a beta of 0.87. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.94 and a quick ratio of 0.93. ACNB has a one year low of $42.60 and a one year high of $67.60.

ACNB (NASDAQ:ACNB - Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The bank reported $1.55 earnings per share for the quarter, beating analysts' consensus estimates of $1.47 by $0.08. ACNB had a net margin of 27.16% and a return on equity of 13.87%. The company had revenue of $43.81 million for the quarter, compared to analyst estimates of $43.02 million. Equities research analysts forecast that ACNB will post 5.72 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Weiss Ratings restated a "buy (b)" rating on shares of ACNB in a research note on Monday, October 19th. Hovde Group upped their target price on ACNB from $57.00 to $64.00 and gave the company a "market perform" rating in a report on Monday, July 27th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $64.50.

ACNB Company Profile

ACNB Corporation NASDAQ: ACNB is a financial holding company headquartered in Gettysburg, Pennsylvania. Its principal subsidiary, ACNB Bank, provides community banking services to individuals, families, farmers, and businesses.

ACNB Bank offers deposit accounts, residential and commercial real estate lending, consumer loans, agricultural financing, business banking, cash-management services, and online and mobile banking. Through affiliated businesses, the company also provides insurance and wealth-management services.

Founded in 1857, ACNB serves communities in south-central Pennsylvania and central Maryland through its banking offices and digital channels.

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