ACNB Corporation $ACNB Shares Purchased by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company increased its ACNB stake by 11.9% in the first quarter, purchasing 17,337 additional shares and bringing its holdings to 162,978 shares valued at approximately $7.8 million.
• ACNB reported quarterly EPS of $1.49, exceeding estimates of $1.38, while revenue reached $42.82 million. The bank also announced a quarterly dividend of $0.42 per share, equivalent to a 2.6% annualized yield.
• ACNB shares opened at $65.43, near their 52-week high of $65.94. Analysts have a consensus “Hold” rating and an average price target of $64.50.

The Manufacturers Life Insurance Company increased its holdings in shares of ACNB Corporation (NASDAQ:ACNB - Free Report) by 11.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 162,978 shares of the bank's stock after buying an additional 17,337 shares during the quarter. The Manufacturers Life Insurance Company owned 1.60% of ACNB worth $7,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ACNB. Equitable Trust Co. increased its holdings in shares of ACNB by 2.3% during the first quarter. Equitable Trust Co. now owns 9,470 shares of the bank's stock valued at $453,000 after acquiring an additional 210 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of ACNB by 5.0% in the first 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 during the last quarter. First Trust Advisors LP raised its holdings in shares of ACNB by 5.2% in the second quarter. First Trust Advisors LP now owns 6,725 shares of the bank's stock worth $288,000 after buying an additional 334 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of ACNB by 56.5% during the second quarter. BNP Paribas Financial Markets now owns 1,036 shares of the bank's stock worth $44,000 after buying an additional 374 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in shares of ACNB by 37.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,219 shares of the bank's stock valued at $107,000 after buying an additional 600 shares during the last quarter. 32.35% of the stock is currently owned by hedge funds and other institutional investors.

ACNB Stock Up 1.4%

ACNB stock opened at $65.43 on Wednesday. The firm's fifty day moving average is $58.96 and its 200 day moving average is $53.42. The firm has a market cap of $668.04 million, a PE ratio of 12.42 and a beta of 0.86. ACNB Corporation has a one year low of $41.06 and a one year high of $65.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 0.94.

ACNB (NASDAQ:ACNB - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.11. The firm had revenue of $42.82 million during the quarter, compared to analyst estimates of $42.21 million. ACNB had a return on equity of 13.83% and a net margin of 27.15%. On average, research analysts forecast that ACNB Corporation will post 5.72 EPS for the current year.

ACNB Dividend Announcement

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

Wall Street Analyst Weigh In

ACNB has been the topic of a number of research reports. Piper Sandler increased their price objective on ACNB from $58.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, June 26th. Wall Street Zen downgraded shares of ACNB from a "buy" rating to a "hold" rating in a report on Sunday, April 12th. Hovde Group lifted their price objective on shares of ACNB from $57.00 to $64.00 and gave the company a "market perform" rating in a research note on Monday, July 27th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of ACNB in a research note on Tuesday, July 21st. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $64.50.

ACNB Profile

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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