Voya Investment Management LLC Takes $271,000 Position in ACNB Co. (NASDAQ:ACNB)

Voya Investment Management LLC bought a new position in shares of ACNB Co. (NASDAQ:ACNB - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,812 shares of the bank's stock, valued at approximately $271,000. Voya Investment Management LLC owned 0.08% of ACNB as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the stock. Stonebridge Financial Group LLC acquired a new position in ACNB during the 4th quarter worth approximately $42,000. Tower Research Capital LLC TRC grew its holdings in ACNB by 431.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,505 shares of the bank's stock worth $60,000 after acquiring an additional 1,222 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in ACNB during the fourth quarter worth $92,000. SG Americas Securities LLC raised its position in ACNB by 35.3% in the fourth quarter. SG Americas Securities LLC now owns 3,963 shares of the bank's stock worth $158,000 after acquiring an additional 1,035 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in ACNB by 29.7% in the fourth quarter. Wells Fargo & Company MN now owns 5,004 shares of the bank's stock valued at $199,000 after acquiring an additional 1,147 shares during the period. 32.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

ACNB Price Performance

NASDAQ ACNB traded down $0.17 during trading hours on Friday, reaching $44.00. The company's stock had a trading volume of 20,395 shares, compared to its average volume of 23,492. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.94 and a current ratio of 0.94. The company's 50-day moving average is $41.17 and its two-hundred day moving average is $42.07. ACNB Co. has a fifty-two week low of $30.24 and a fifty-two week high of $50.72. The stock has a market cap of $463.89 million, a PE ratio of 11.80 and a beta of 0.83.

ACNB (NASDAQ:ACNB - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The bank reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.94 by $0.09. ACNB had a net margin of 24.09% and a return on equity of 10.91%. The business had revenue of $34.27 million during the quarter, compared to analysts' expectations of $32.65 million. Analysts forecast that ACNB Co. will post 3.22 EPS for the current year.

ACNB Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 30th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.09%. This is a boost 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 46.90%.

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.