JPMorgan Chase & Co. Acquires 16,214 Shares of ACNB Co. (NASDAQ:ACNB)

JPMorgan Chase & Co. grew its stake in shares of ACNB Co. (NASDAQ:ACNB - Free Report) by 145.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,362 shares of the bank's stock after buying an additional 16,214 shares during the period. JPMorgan Chase & Co. owned 0.32% of ACNB worth $1,090,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Stonebridge Financial Group LLC bought a new stake in ACNB during the 4th quarter worth approximately $42,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of ACNB in the fourth quarter worth $92,000. SG Americas Securities LLC boosted its stake in ACNB by 35.3% during the fourth quarter. SG Americas Securities LLC now owns 3,963 shares of the bank's stock valued at $158,000 after buying an additional 1,035 shares during the period. Franklin Resources Inc. purchased a new position in ACNB during the third quarter worth about $221,000. Finally, Barclays PLC grew its position in ACNB by 286.7% during the third quarter. Barclays PLC now owns 10,807 shares of the bank's stock worth $472,000 after buying an additional 8,012 shares in the last quarter. 32.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ACNB. UBS Group set a $47.00 price target on ACNB in a research report on Friday, March 21st. Piper Sandler raised shares of ACNB from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $37.00 to $50.00 in a research note on Monday, March 3rd. Raymond James initiated coverage on shares of ACNB in a research report on Friday, March 21st. They set an "outperform" rating and a $47.00 price objective on the stock. Finally, StockNews.com lowered shares of ACNB from a "hold" rating to a "sell" rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, ACNB presently has an average rating of "Moderate Buy" and an average target price of $48.40.

ACNB Trading Up 2.0 %

Shares of ACNB traded up $0.86 during mid-day trading on Friday, reaching $43.06. The company's stock had a trading volume of 7,429 shares, compared to its average volume of 23,114. ACNB Co. has a 52 week low of $30.24 and a 52 week high of $50.72. The stock has a market cap of $453.98 million, a PE ratio of 11.46 and a beta of 0.69. The company's fifty day moving average price is $40.78 and its two-hundred day moving average price is $42.06. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.83.

ACNB (NASDAQ:ACNB - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The bank reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.09. The business had revenue of $34.27 million during the quarter, compared to analyst estimates of $32.65 million. ACNB had a net margin of 24.09% and a return on equity of 10.91%. On average, analysts predict that ACNB Co. will post 3.22 earnings per share for the current fiscal year.

ACNB Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 30th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.16%. This is an increase from ACNB's previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, May 30th. ACNB's payout ratio is presently 46.90%.

About ACNB

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.