The Manufacturers Life Insurance Company Takes Position in ACNB Corporation $ACNB

Key Points

• The Manufacturers Life Insurance Company acquired 161,818 ACNB shares worth approximately $9.6 million, representing a 1.59% stake. Institutional investors and hedge funds collectively own 32.35% of the company.
• ACNB reported quarterly EPS of $1.49, surpassing the $1.38 consensus estimate, while revenue of $42.82 million also exceeded expectations.
• Analysts maintain a consensus “Hold” rating with a $64.50 target price. ACNB also declared a quarterly dividend of $0.42 per share, equivalent to a 2.6% annualized yield.

The Manufacturers Life Insurance Company acquired a new stake in ACNB Corporation (NASDAQ:ACNB - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 161,818 shares of the bank's stock, valued at approximately $9,609,000. The Manufacturers Life Insurance Company owned 1.59% of ACNB as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ACNB. Maltese Capital Management LLC lifted its holdings in ACNB by 30.5% in the fourth quarter. Maltese Capital Management LLC now owns 66,164 shares of the bank's stock valued at $3,199,000 after buying an additional 15,464 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of ACNB by 4.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 334,844 shares of the bank's stock valued at $16,029,000 after purchasing an additional 14,789 shares during the period. Segall Bryant & Hamill LLC bought a new stake in shares of ACNB during the 1st quarter valued at about $548,000. Van Hulzen Asset Management LLC bought a new stake in shares of ACNB during the 2nd quarter valued at about $772,000. Finally, Planning Directions Inc. bought a new stake in ACNB in the second quarter worth approximately $263,000. Institutional investors and hedge funds own 32.35% of the company's stock.

Analyst Ratings Changes

ACNB has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of ACNB in a research report on Tuesday, July 21st. Piper Sandler increased their target price on shares of ACNB from $58.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, June 26th. Finally, Hovde Group lifted their price target 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. Two 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 target price of $64.50.

ACNB Trading Down 0.0%

Shares of ACNB stock opened at $64.51 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $656.07 million, a P/E ratio of 12.24 and a beta of 0.86. The stock has a fifty day simple moving average of $62.17 and a 200 day simple moving average of $55.16. ACNB Corporation has a 12-month low of $42.52 and a 12-month high of $65.94.

ACNB (NASDAQ:ACNB - Get Free Report) last announced its earnings results on Thursday, July 23rd. The bank reported $1.49 EPS for the quarter, beating the consensus estimate of $1.38 by $0.11. ACNB had a net margin of 27.15% and a return on equity of 13.78%. The company had revenue of $42.82 million during the quarter, compared to the consensus estimate of $42.21 million. On average, sell-side analysts anticipate that ACNB Corporation will post 5.72 earnings per share for the current fiscal year.

ACNB Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.68 annualized dividend and a dividend yield of 2.6%. ACNB's dividend payout ratio (DPR) is currently 31.88%.

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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