ACNB (NASDAQ:ACNB) Hits New 12-Month High – Should You Buy?

ACNB Corporation (NASDAQ:ACNB) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $55.01 and last traded at $53.2810, with a volume of 155 shares trading hands. The stock had previously closed at $53.34.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Weiss Ratings raised ACNB from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Wall Street Zen lowered ACNB from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. Piper Sandler restated an “overweight” rating and set a $58.00 price target (up from $57.00) on shares of ACNB in a research report on Tuesday, April 28th. Finally, Zacks Research cut ACNB from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $58.00.

ACNB Stock Down 0.0%

The company has a 50 day moving average price of $49.59 and a two-hundred day moving average price of $49.53. 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 has a market cap of $544.40 million, a PE ratio of 10.90 and a beta of 0.87.

ACNB (NASDAQ:ACNB) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.06. The firm had revenue of $40.79 million for the quarter, compared to the consensus estimate of $41.07 million. ACNB had a net margin of 25.66% and a return on equity of 13.15%. Analysts expect that ACNB Corporation will post 5.49 EPS for the current year.

ACNB Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, June 1st. This is a positive change from ACNB’s previous quarterly dividend of $0.38. ACNB’s payout ratio is currently 31.08%.

Institutional Investors Weigh In On ACNB

A number of large investors have recently made changes to their positions in ACNB. First United Bank & Trust purchased a new stake in shares of ACNB during the 1st quarter valued at about $47,000. Russell Investments Group Ltd. bought a new stake in ACNB during the third quarter valued at approximately $45,000. BNP Paribas Financial Markets increased its holdings in ACNB by 56.5% during the second quarter. BNP Paribas Financial Markets now owns 1,036 shares of the bank’s stock valued at $44,000 after buying an additional 374 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in ACNB during the first quarter valued at approximately $71,000. Finally, Tower Research Capital LLC TRC raised its position in ACNB by 98.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,727 shares of the bank’s stock worth $74,000 after acquiring an additional 856 shares during the period. 32.35% of the stock is currently owned by institutional investors.

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.