ACNB (NASDAQ:ACNB) Hits New 1-Year High – Should You Buy?

ACNB Corporation (NASDAQ:ACNB)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $55.57 and last traded at $55.48, with a volume of 32086 shares. The stock had previously closed at $54.13.

Analysts Set New Price Targets

ACNB has been the subject of several analyst reports. Wall Street Zen lowered shares of ACNB from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Hovde Group lowered shares of ACNB from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $56.00 to $57.00 in a report on Wednesday, May 27th. Weiss Ratings upgraded shares of ACNB from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Piper Sandler restated an “overweight” rating and issued a $58.00 target price (up from $57.00) on shares of ACNB in a report on Tuesday, April 28th. Finally, Zacks Research lowered shares of ACNB from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, ACNB currently has a consensus rating of “Hold” and an average price target of $57.50.

ACNB Stock Up 1.4%

The business’s fifty day moving average is $51.65 and its two-hundred day moving average is $50.25. The company has a market cap of $560.32 million, a P/E ratio of 11.22 and a beta of 0.88. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 0.94.

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

ACNB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Monday, June 1st. This is a positive change from ACNB’s previous quarterly dividend of $0.38. ACNB’s dividend payout ratio (DPR) is 34.36%.

Institutional Investors Weigh In On ACNB

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACNB. Maltese Capital Management LLC raised its holdings in shares of ACNB by 112.3% in the third quarter. Maltese Capital Management LLC now owns 50,700 shares of the bank’s stock valued at $2,233,000 after acquiring an additional 26,820 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of ACNB by 98.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,727 shares of the bank’s stock valued at $74,000 after acquiring an additional 856 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of ACNB by 56.5% in the second quarter. BNP Paribas Financial Markets now owns 1,036 shares of the bank’s stock valued at $44,000 after acquiring an additional 374 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of ACNB by 10.0% in the first quarter. Bank of America Corp DE now owns 33,187 shares of the bank’s stock valued at $1,589,000 after acquiring an additional 3,021 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of ACNB by 8.3% in the first quarter. Bank of New York Mellon Corp now owns 37,274 shares of the bank’s stock valued at $1,784,000 after acquiring an additional 2,846 shares in the last quarter. Institutional investors own 32.35% of the company’s stock.

ACNB Company Profile

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.