ACNB (NASDAQ:ACNB) Sets New 52-Week High - Should You Buy?

Key Points

• ACNB shares reached a new 52-week high of $66.53 and were last trading at $64.99, above the previous close of $64.51.
• Analyst sentiment remains mixed: two analysts rate the stock a Buy and three rate it Hold, producing an overall “Hold” rating and an average price target of $64.50.
• ACNB reported quarterly EPS of $1.49, exceeding the $1.38 consensus estimate, and declared a quarterly dividend of $0.42, equivalent to a 2.6% yield and a 31.88% payout ratio.

Shares of ACNB Corporation (NASDAQ:ACNB - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $66.53 and last traded at $64.99, with a volume of 81027 shares. The stock had previously closed at $64.51.

Analyst Ratings Changes

A number of analysts have weighed in on ACNB shares. Hovde Group increased their price target on shares of ACNB from $57.00 to $64.00 and gave the company a "market perform" rating in a report on Monday, July 27th. Weiss Ratings restated a "buy (b)" rating on shares of ACNB in a report on Tuesday, July 21st. Finally, Piper Sandler increased their target price on shares of ACNB from $58.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, June 26th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $64.50.

ACNB Price Performance

The stock has a market cap of $660.95 million, a price-to-earnings ratio of 12.33 and a beta of 0.86. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.94 and a quick ratio of 0.93. The stock's 50 day simple moving average is $62.17 and its two-hundred day simple moving average is $55.18.

ACNB (NASDAQ:ACNB - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $42.21 million. On average, analysts forecast that ACNB Corporation will post 5.72 earnings per share for the current fiscal year.

ACNB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 1st. ACNB's dividend payout ratio is 31.88%.

Institutional Investors Weigh In On ACNB

A number of institutional investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC acquired a new position in shares of ACNB in the 1st quarter worth approximately $213,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in ACNB by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,942 shares of the bank's stock valued at $203,000 after acquiring an additional 234 shares during the period. Rhumbline Advisers grew its position in ACNB by 31.9% in the second quarter. Rhumbline Advisers now owns 15,515 shares of the bank's stock valued at $665,000 after acquiring an additional 3,749 shares during the period. First Trust Advisors LP raised its stake in ACNB by 5.2% during the second quarter. First Trust Advisors LP now owns 6,725 shares of the bank's stock worth $288,000 after acquiring an additional 334 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in ACNB by 0.8% during the second quarter. The Manufacturers Life Insurance Company now owns 148,523 shares of the bank's stock worth $6,363,000 after acquiring an additional 1,224 shares in the last quarter. 32.35% of the stock is owned by institutional investors and hedge funds.

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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