ACNB Corporation (NASDAQ:ACNB) Receives Average Recommendation of “Hold” from Brokerages

ACNB Corporation (NASDAQ:ACNB) has been given an average recommendation of “Hold” by the five research firms that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $64.50.

Several brokerages have commented on ACNB. Piper Sandler raised their price objective on ACNB from $58.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of ACNB in a research report on Tuesday, July 21st. Finally, Hovde Group increased their price target on shares of ACNB from $57.00 to $64.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th.

ACNB Trading Up 0.6%

ACNB opened at $65.61 on Friday. The stock has a market cap of $667.25 million, a PE ratio of 12.45 and a beta of 0.86. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.51. The business has a 50 day moving average of $62.73 and a 200-day moving average of $55.54. ACNB has a 52 week low of $42.52 and a 52 week high of $67.60.

ACNB (NASDAQ:ACNB) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.11. The company had revenue of $42.82 million for the quarter, compared to analyst estimates of $42.21 million. ACNB had a return on equity of 13.78% and a net margin of 27.15%. Equities research analysts predict that ACNB will post 5.72 earnings per share for the current fiscal year.

ACNB Dividend Announcement

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

Hedge Funds Weigh In On ACNB

Institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System lifted its holdings in shares of ACNB by 1,403.2% during the second quarter. California State Teachers Retirement System now owns 8,373 shares of the bank’s stock valued at $497,000 after purchasing an additional 7,816 shares during the last quarter. Rodgers & Associates LTD purchased a new stake in shares of ACNB in the 2nd quarter worth approximately $215,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of ACNB in the 2nd quarter worth approximately $461,000. Empowered Funds LLC bought a new position in ACNB during the 2nd quarter valued at approximately $3,819,000. Finally, Equitable Holdings Inc. bought a new position in ACNB during the 2nd quarter valued at approximately $371,000. Institutional investors own 32.35% of the company’s stock.

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.