Citadel Advisors LLC Grows Stake in ACNB Co. (NASDAQ:ACNB)

Citadel Advisors LLC lifted its stake in shares of ACNB Co. (NASDAQ:ACNB - Free Report) by 117.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,536 shares of the bank's stock after purchasing an additional 12,727 shares during the quarter. Citadel Advisors LLC owned 0.28% of ACNB worth $937,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Rhumbline Advisers grew its holdings in shares of ACNB by 2.2% during the 4th quarter. Rhumbline Advisers now owns 12,405 shares of the bank's stock worth $494,000 after purchasing an additional 268 shares in the last quarter. Northern Trust Corp boosted its stake in ACNB by 0.9% in the fourth quarter. Northern Trust Corp now owns 68,638 shares of the bank's stock valued at $2,734,000 after buying an additional 618 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in ACNB by 3.3% in the fourth quarter. Bank of New York Mellon Corp now owns 24,524 shares of the bank's stock valued at $977,000 after buying an additional 785 shares in the last quarter. SG Americas Securities LLC boosted its stake in ACNB by 35.3% in the fourth quarter. SG Americas Securities LLC now owns 3,963 shares of the bank's stock valued at $158,000 after buying an additional 1,035 shares in the last quarter. Finally, Stonebridge Financial Group LLC acquired a new stake in ACNB in the fourth quarter valued at about $42,000. 32.35% of the stock is owned by institutional investors and hedge funds.

ACNB Stock Down 1.3%

Shares of NASDAQ:ACNB traded down $0.54 during mid-day trading on Monday, hitting $41.03. 16,506 shares of the company traded hands, compared to its average volume of 23,768. The stock has a 50-day moving average price of $41.49 and a two-hundred day moving average price of $41.77. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.83. ACNB Co. has a 12-month low of $30.24 and a 12-month high of $50.72. The stock has a market cap of $429.75 million, a P/E ratio of 11.00 and a beta of 0.83.

ACNB (NASDAQ:ACNB - Get Free Report) last issued its earnings results on Thursday, April 24th. The bank reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.09. ACNB had a return on equity of 10.91% and a net margin of 24.09%. The firm had revenue of $34.27 million for the quarter, compared to analyst estimates of $32.65 million. On average, equities research analysts forecast that ACNB Co. will post 3.22 earnings per share for the current year.

ACNB Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be paid a $0.34 dividend. This is a positive change from ACNB's previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Friday, May 30th. ACNB's dividend payout ratio is currently 46.90%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Raymond James assumed coverage on ACNB in a research note on Friday, March 21st. They issued an "outperform" rating and a $47.00 price objective on the stock. Wall Street Zen raised ACNB from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Piper Sandler raised ACNB from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $37.00 to $50.00 in a research note on Monday, March 3rd. Finally, UBS Group set a $47.00 price target on ACNB in a research note on Friday, March 21st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, ACNB currently has an average rating of "Moderate Buy" and an average price target of $48.40.

ACNB Profile

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.