The Manufacturers Life Insurance Company grew its stake in shares of ACNB Co. (NASDAQ:ACNB - Free Report) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 124,228 shares of the bank's stock after buying an additional 8,032 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 1.45% of ACNB worth $4,948,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of ACNB. Stonebridge Financial Group LLC bought a new position in shares of ACNB in the fourth quarter valued at $42,000. Tower Research Capital LLC TRC raised its holdings in shares of ACNB by 431.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,505 shares of the bank's stock worth $60,000 after purchasing an additional 1,222 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of ACNB during the 4th quarter valued at $92,000. SG Americas Securities LLC boosted its position in ACNB by 35.3% during the fourth quarter. SG Americas Securities LLC now owns 3,963 shares of the bank's stock worth $158,000 after purchasing an additional 1,035 shares during the period. Finally, Wells Fargo & Company MN grew its stake in ACNB by 29.7% in the 4th quarter. Wells Fargo & Company MN now owns 5,004 shares of the bank's stock valued at $199,000 after buying an additional 1,147 shares in the last quarter. 32.35% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. Raymond James initiated coverage on shares of ACNB in a research report on Friday, March 21st. They issued an "outperform" rating and a $47.00 price objective for the company. UBS Group set a $47.00 price objective on shares of ACNB in a research note on Friday, March 21st. StockNews.com lowered shares of ACNB from a "hold" rating to a "sell" rating in a report on Monday, April 28th. Finally, Piper Sandler raised ACNB from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $37.00 to $50.00 in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $48.40.
Read Our Latest Research Report on ACNB
ACNB Stock Performance
ACNB stock traded down $0.10 during midday trading on Friday, reaching $42.84. 14,017 shares of the company's stock traded hands, compared to its average volume of 23,476. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.83. The stock's 50-day moving average is $40.93 and its 200 day moving average is $42.02. The stock has a market cap of $451.66 million, a P/E ratio of 11.49 and a beta of 0.83. ACNB Co. has a 52-week low of $30.24 and a 52-week high of $50.72.
ACNB (NASDAQ:ACNB - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The bank reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.09. ACNB had a return on equity of 10.91% and a net margin of 24.09%. The business had revenue of $34.27 million during the quarter, compared to the consensus estimate of $32.65 million. As a group, analysts anticipate that ACNB Co. will post 3.22 EPS for the current year.
ACNB Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be given a dividend of $0.34 per share. This is a boost from ACNB's previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.36 dividend on an annualized basis and a yield of 3.17%. ACNB's payout ratio is 46.90%.
About ACNB
(
Free Report)
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.
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