Bare Financial Services Inc Takes $347,000 Position in ACNB Corporation (NASDAQ:ACNB)

Key Points

• Bare Financial Services Inc has acquired 8,431 shares of ACNB Corporation, valued at approximately $347,000, representing about 0.08% of the bank's total shares.
• Wall Street analysts recently upgraded ACNB stock from a "sell" rating to a "hold" rating, indicating a more favorable outlook.
• ACNB Corporation is set to pay a quarterly dividend of $0.34 on September 15th, providing a dividend yield of 3.2% based on a payout ratio of 50.56%.

Bare Financial Services Inc acquired a new position in shares of ACNB Corporation (NASDAQ:ACNB - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,431 shares of the bank's stock, valued at approximately $347,000. Bare Financial Services Inc owned about 0.08% of ACNB as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its holdings in ACNB by 431.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,505 shares of the bank's stock worth $60,000 after buying an additional 1,222 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in ACNB in the 1st quarter valued at about $203,000. Wells Fargo & Company MN grew its stake in ACNB by 29.7% in the 4th quarter. Wells Fargo & Company MN now owns 5,004 shares of the bank's stock worth $199,000 after acquiring an additional 1,147 shares during the period. First Trust Advisors LP acquired a new position in ACNB in the fourth quarter valued at $207,000. Finally, Voya Investment Management LLC purchased a new stake in ACNB in the 4th quarter valued at about $271,000. Hedge funds and other institutional investors own 32.35% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of ACNB from a "sell" rating to a "hold" rating in a research report on Monday, May 12th.

ACNB Trading Up 1.6%

Shares of ACNB stock traded up $0.70 during trading hours on Wednesday, reaching $45.27. The stock had a trading volume of 31,145 shares, compared to its average volume of 31,353. The firm has a 50 day simple moving average of $42.58 and a two-hundred day simple moving average of $41.76. The firm has a market capitalization of $473.89 million, a price-to-earnings ratio of 16.83 and a beta of 0.93. ACNB Corporation has a 1 year low of $35.70 and a 1 year high of $50.72. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.65.

ACNB (NASDAQ:ACNB - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The bank reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.03). The business had revenue of $39.69 million during the quarter, compared to analyst estimates of $38.85 million. ACNB had a return on equity of 10.22% and a net margin of 15.64%. As a group, equities research analysts anticipate that ACNB Corporation will post 3.22 earnings per share for the current year.

ACNB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, August 29th. ACNB's payout ratio is currently 50.56%.

ACNB Company 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.