ACNB (NASDAQ:ACNB) Sets New 1-Year High – What’s Next?

Shares of ACNB Corporation (NASDAQ:ACNB) hit a new 52-week high during trading on Tuesday . The stock traded as high as $52.99 and last traded at $52.61, with a volume of 33925 shares changing hands. The stock had previously closed at $51.66.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ACNB. Raymond James Financial lowered shares of ACNB from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 7th. Wall Street Zen upgraded shares of ACNB from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Weiss Ratings restated a “hold (c+)” rating on shares of ACNB in a research note on Monday. Zacks Research raised ACNB from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. Finally, Piper Sandler lifted their price target on ACNB from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, ACNB presently has an average rating of “Moderate Buy” and a consensus target price of $48.67.

ACNB Stock Up 0.6%

The stock’s 50-day moving average price is $47.15 and its two-hundred day moving average price is $44.79. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $549.11 million, a P/E ratio of 16.16 and a beta of 0.87.

ACNB (NASDAQ:ACNB) last posted its quarterly earnings results on Thursday, October 23rd. The bank reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.22. The company had revenue of $40.54 million for the quarter, compared to analyst estimates of $39.83 million. ACNB had a net margin of 18.47% and a return on equity of 11.58%. As a group, research analysts expect that ACNB Corporation will post 3.22 earnings per share for the current fiscal year.

ACNB Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a $0.38 dividend. The ex-dividend date of this dividend was Monday, December 1st. This is an increase from ACNB’s previous quarterly dividend of $0.34. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.9%. ACNB’s dividend payout ratio is 46.48%.

Insider Buying and Selling at ACNB

In other ACNB news, EVP Brett D. Fulk sold 2,773 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $52.27, for a total transaction of $144,944.71. Following the sale, the executive vice president owned 3,306 shares in the company, valued at $172,804.62. This trade represents a 45.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Donald Arthur Seibel, Jr. sold 5,000 shares of ACNB stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $51.00, for a total value of $255,000.00. Following the sale, the director directly owned 5,927 shares of the company’s stock, valued at approximately $302,277. This trade represents a 45.76% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.53% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ACNB

A number of large investors have recently modified their holdings of the company. Turning Point Benefit Group Inc. purchased a new stake in ACNB in the third quarter worth approximately $198,000. Private Capital Management LLC lifted its holdings in shares of ACNB by 9.9% in the 3rd quarter. Private Capital Management LLC now owns 345,626 shares of the bank’s stock worth $15,221,000 after acquiring an additional 31,113 shares during the last quarter. Maltese Capital Management LLC lifted its holdings in shares of ACNB by 112.3% in the 3rd quarter. Maltese Capital Management LLC now owns 50,700 shares of the bank’s stock worth $2,233,000 after acquiring an additional 26,820 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of ACNB in the 3rd quarter valued at $414,000. Finally, Equitable Holdings Inc. grew its holdings in shares of ACNB by 15.1% during the 3rd quarter. Equitable Holdings Inc. now owns 6,214 shares of the bank’s stock valued at $274,000 after purchasing an additional 814 shares during the last quarter. 32.35% of the stock is owned by hedge funds and other institutional investors.

About ACNB

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.