Equitable Trust Co. Takes Position in ACNB Corporation $ACNB

Key Points

• Equitable Trust Co. has acquired a new stake in ACNB Corporation, purchasing 8,280 shares valued at approximately $355,000, representing about 0.08% ownership of the company.
• ACNB Corporation reported an earnings per share (EPS) of $1.11 for the last quarter, which was below analysts' expectations of $1.14, but revenue surpassed estimates at $39.69 million.
• The company has declared a quarterly dividend of $0.34 per share, leading to an annualized dividend of $1.36 and a dividend yield of 3.1%.

Equitable Trust Co. bought a new stake in shares of ACNB Corporation (NASDAQ:ACNB - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 8,280 shares of the bank's stock, valued at approximately $355,000. Equitable Trust Co. owned approximately 0.08% of ACNB at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ACNB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of ACNB by 5.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,942 shares of the bank's stock valued at $203,000 after buying an additional 234 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in ACNB in the 1st quarter valued at $203,000. Cubist Systematic Strategies LLC acquired a new stake in ACNB during the 1st quarter worth $213,000. Bare Financial Services Inc purchased a new stake in shares of ACNB during the first quarter worth $347,000. Finally, Voya Investment Management LLC grew its holdings in shares of ACNB by 31.8% during the first quarter. Voya Investment Management LLC now owns 8,978 shares of the bank's stock worth $370,000 after buying an additional 2,166 shares in the last quarter. Hedge funds and other institutional investors own 32.35% of the company's stock.

ACNB Stock Down 0.9%

NASDAQ ACNB opened at $44.20 on Thursday. ACNB Corporation has a 52 week low of $35.70 and a 52 week high of $50.72. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.65. The business's fifty day simple moving average is $44.53 and its 200-day simple moving average is $42.87. The firm has a market cap of $462.69 million, a PE ratio of 16.43 and a beta of 0.95.

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

ACNB Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 1st were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, August 29th. ACNB's payout ratio is currently 50.56%.

Analyst Upgrades and Downgrades

ACNB has been the subject of a number of recent research reports. Raymond James Financial cut shares of ACNB from an "outperform" rating to a "market perform" rating in a research report on Tuesday, October 7th. Weiss Ratings reiterated a "hold (c+)" rating on shares of ACNB in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $49.25.

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.

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