ACNB (NASDAQ:ACNB) Price Target Raised to $64.00

ACNB (NASDAQ:ACNB) had its target price lifted by Hovde Group from $57.00 to $64.00 in a report released on Monday morning, Marketbeat Ratings reports. Hovde Group currently has a market perform rating on the bank’s stock.

ACNB has been the subject of several other research reports. Weiss Ratings restated a “buy (b)” rating on shares of ACNB in a report on Tuesday, July 21st. Wall Street Zen cut ACNB from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Finally, Piper Sandler increased their target price on ACNB from $58.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $64.50.

ACNB Trading Down 1.6%

Shares of ACNB stock opened at $63.53 on Monday. ACNB has a 52-week low of $40.80 and a 52-week high of $65.26. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 0.94. The firm has a market capitalization of $648.64 million, a PE ratio of 12.06 and a beta of 0.87. The stock has a fifty day simple moving average of $58.17 and a two-hundred day simple moving average of $52.96.

ACNB (NASDAQ:ACNB) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $1.49 EPS for the quarter, beating the consensus estimate of $1.38 by $0.11. ACNB had a return on equity of 13.83% and a net margin of 27.15%.The business had revenue of $42.82 million for the quarter, compared to the consensus estimate of $42.21 million. On average, analysts predict that ACNB will post 5.67 EPS for the current fiscal year.

ACNB Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.42 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.6%. ACNB’s payout ratio is presently 31.88%.

Institutional Trading of ACNB

A number of hedge funds have recently added to or reduced their stakes in ACNB. Private Capital Management LLC increased its holdings in ACNB by 7.3% during the fourth quarter. Private Capital Management LLC now owns 370,742 shares of the bank’s stock valued at $17,925,000 after buying an additional 25,116 shares during the period. Dimensional Fund Advisors LP boosted its position in ACNB by 4.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 334,844 shares of the bank’s stock valued at $16,029,000 after acquiring an additional 14,789 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of ACNB by 11.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 162,978 shares of the bank’s stock valued at $7,802,000 after acquiring an additional 17,337 shares during the period. Bridgeway Capital Management LLC increased its holdings in shares of ACNB by 5.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 105,905 shares of the bank’s stock valued at $5,121,000 after acquiring an additional 5,218 shares during the period. Finally, Maltese Capital Management LLC raised its position in shares of ACNB by 30.5% in the 4th quarter. Maltese Capital Management LLC now owns 66,164 shares of the bank’s stock worth $3,199,000 after acquiring an additional 15,464 shares in the last quarter. 32.35% of the stock is owned by hedge funds and other 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.