ACNB (NASDAQ:ACNB) Sets New 12-Month High - Should You Buy?

Key Points

• ACNB shares reached a new 52-week high, trading as high as $68.23, above the prior close of $67.12.
• The bank beat quarterly expectations, reporting EPS of $1.55 versus $1.47 expected and revenue of $43.81 million versus $43.02 million expected. Analysts’ average rating is “Moderate Buy,” with an average price target of $64.50.
• ACNB announced a $0.75 special dividend, payable December 15 to shareholders of record on December 1.

ACNB Corporation (NASDAQ:ACNB - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $68.23 and last traded at $67.5280, with a volume of 2,831 shares changing hands. The stock had previously closed at $67.12.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ACNB. Hovde Group increased their target price on shares of ACNB from $57.00 to $64.00 and gave the company a "market perform" rating in a research report on Monday, July 27th. Weiss Ratings reissued a "buy (b)" rating on shares of ACNB in a research report on Monday, October 19th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $64.50.

ACNB Stock Performance

The stock has a market cap of $685.22 million, a PE ratio of 12.48 and a beta of 0.90. The stock has a fifty day moving average of $64.22 and a 200-day moving average of $56.88. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.51.

ACNB (NASDAQ:ACNB - Get Free Report) last released its earnings results on Thursday, October 22nd. The bank reported $1.55 EPS for the quarter, topping the consensus estimate of $1.47 by $0.08. The company had revenue of $43.81 million during the quarter, compared to analysts' expectations of $43.02 million. ACNB had a net margin of 27.16% and a return on equity of 13.87%. On average, equities analysts forecast that ACNB Corporation will post 5.81 EPS for the current year.

ACNB Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a $0.75 dividend. The ex-dividend date is Tuesday, December 1st. ACNB's dividend payout ratio (DPR) is presently 31.11%.

Institutional Investors Weigh In On ACNB

A number of institutional investors have recently added to or reduced their stakes in ACNB. BlackRock Inc. acquired a new position in ACNB during the second quarter worth $41,871,000. Dimensional Fund Advisors LP raised its stake in shares of ACNB by 4.6% during 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 raised its position in ACNB by 11.9% during the first quarter. The Manufacturers Life Insurance Company now owns 162,978 shares of the bank's stock worth $7,802,000 after acquiring an additional 17,337 shares during the last quarter. Empowered Funds LLC purchased a new stake in ACNB in the 2nd quarter valued at approximately $3,819,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of ACNB in the second quarter valued at $2,461,000. Hedge funds and other institutional investors own 32.35% of the company's stock.

ACNB Company Profile

ACNB Corporation NASDAQ: ACNB is a financial holding company headquartered in Gettysburg, Pennsylvania. Its principal subsidiary, ACNB Bank, provides community banking services to individuals, families, farmers, and businesses.

ACNB Bank offers deposit accounts, residential and commercial real estate lending, consumer loans, agricultural financing, business banking, cash-management services, and online and mobile banking. Through affiliated businesses, the company also provides insurance and wealth-management services.

Founded in 1857, ACNB serves communities in south-central Pennsylvania and central Maryland through its banking offices and digital channels.

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