The Manufacturers Life Insurance Company Purchases 8,032 Shares of ACNB Co. (NASDAQ:ACNB)

The Manufacturers Life Insurance Company lifted its holdings in shares of ACNB Co. (NASDAQ:ACNB - Free Report) by 6.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 124,228 shares of the bank's stock after purchasing an additional 8,032 shares during the quarter. The Manufacturers Life Insurance Company owned about 1.45% of ACNB worth $4,948,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ACNB. JPMorgan Chase & Co. increased its position in shares of ACNB by 145.4% during the fourth quarter. JPMorgan Chase & Co. now owns 27,362 shares of the bank's stock worth $1,090,000 after acquiring an additional 16,214 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of ACNB by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 273,669 shares of the bank's stock worth $10,900,000 after acquiring an additional 10,796 shares during the last quarter. American Century Companies Inc. increased its position in shares of ACNB by 9.1% during the fourth quarter. American Century Companies Inc. now owns 101,437 shares of the bank's stock worth $4,040,000 after acquiring an additional 8,486 shares during the last quarter. Barclays PLC increased its holdings in ACNB by 286.7% in the third quarter. Barclays PLC now owns 10,807 shares of the bank's stock valued at $472,000 after buying an additional 8,012 shares during the last quarter. Finally, Voya Investment Management LLC bought a new stake in shares of ACNB in the 4th quarter worth approximately $271,000. Institutional investors and hedge funds own 32.35% of the company's stock.

ACNB Stock Down 0.2%

Shares of NASDAQ:ACNB traded down $0.10 on Wednesday, reaching $43.90. The company had a trading volume of 2,707 shares, compared to its average volume of 23,348. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.83. The stock has a 50-day moving average price of $41.04 and a 200 day moving average price of $42.04. The stock has a market capitalization of $462.78 million, a P/E ratio of 11.77 and a beta of 0.83. ACNB Co. has a twelve month low of $30.24 and a twelve month high of $50.72.

ACNB (NASDAQ:ACNB - Get Free Report) last issued 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 firm had revenue of $34.27 million for the quarter, compared to analyst estimates of $32.65 million. ACNB had a return on equity of 10.91% and a net margin of 24.09%. On average, equities analysts expect that ACNB Co. will post 3.22 EPS for the current year.

ACNB Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 30th will be given a dividend of $0.34 per share. The ex-dividend date is Friday, May 30th. This is a positive change from ACNB's previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 3.10%. ACNB's dividend payout ratio is 46.90%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Raymond James assumed coverage on ACNB in a research report on Friday, March 21st. They issued an "outperform" rating and a $47.00 target price on the stock. UBS Group set a $47.00 price target on ACNB in a research report on Friday, March 21st. Piper Sandler upgraded ACNB from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $37.00 to $50.00 in a research report on Monday, March 3rd. Finally, StockNews.com upgraded ACNB from a "sell" rating to a "hold" rating in a research report on Monday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, ACNB has a consensus rating of "Moderate Buy" and a consensus target price of $48.40.

ACNB Company 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.