Bank of New York Mellon Corp Purchases Shares of 41,447 ACNB Corporation $ACNB

Key Points

• Bank of New York Mellon acquired 41,447 ACNB shares worth approximately $2.46 million, representing about 0.41% of the bank; institutional investors collectively own 32.35% of ACNB.
• ACNB exceeded quarterly expectations, reporting $1.49 in EPS versus the $1.38 consensus and $42.82 million in revenue versus estimates of $42.21 million.
• The company declared a quarterly dividend of $0.42 per share, equal to an annualized $1.68 payout and a 2.5% yield. Analysts maintain a consensus “Hold” rating with a $64.50 price target.

Bank of New York Mellon Corp purchased a new stake in shares of ACNB Corporation (NASDAQ:ACNB - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 41,447 shares of the bank's stock, valued at approximately $2,461,000. Bank of New York Mellon Corp owned approximately 0.41% of ACNB at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ACNB. Private Capital Management LLC lifted its holdings 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 worth $17,925,000 after acquiring an additional 25,116 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in ACNB by 4.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 334,844 shares of the bank's stock worth $16,029,000 after buying an additional 14,789 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in ACNB by 11.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 162,978 shares of the bank's stock worth $7,802,000 after buying an additional 17,337 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in ACNB by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 148,523 shares of the bank's stock worth $6,363,000 after buying an additional 1,224 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of ACNB by 5.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 105,905 shares of the bank's stock worth $5,121,000 after acquiring an additional 5,218 shares during the last quarter. Institutional investors own 32.35% of the company's stock.

ACNB Stock Performance

NASDAQ:ACNB opened at $65.95 on Tuesday. The firm has a market capitalization of $670.71 million, a P/E ratio of 12.51 and a beta of 0.86. 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 company has a fifty day moving average of $62.97 and a 200 day moving average of $55.72. ACNB Corporation has a 52 week low of $42.52 and a 52 week high of $67.60.

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

ACNB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 1st. ACNB's payout ratio is presently 31.88%.

Wall Street Analyst Weigh In

Several analysts have weighed in on ACNB shares. Hovde Group boosted their price target on shares of ACNB from $57.00 to $64.00 and gave the stock a "market perform" rating in a research note on Monday, July 27th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of ACNB in a research note on Tuesday, July 21st. Finally, Piper Sandler lifted their price objective on ACNB from $58.00 to $65.00 and gave the stock an "overweight" rating in a report on Friday, June 26th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, ACNB currently has an average rating of "Hold" and a consensus price target of $64.50.

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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