Savant Capital LLC Acquires New Position in ACNB Co. (NASDAQ:ACNB)

Savant Capital LLC bought a new position in ACNB Co. (NASDAQ:ACNB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,890 shares of the bank’s stock, valued at approximately $264,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its holdings in shares of ACNB by 1.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 30,627 shares of the bank’s stock worth $968,000 after acquiring an additional 326 shares during the period. Allworth Financial LP acquired a new stake in shares of ACNB in the fourth quarter valued at approximately $31,000. LSV Asset Management raised its holdings in shares of ACNB by 2.6% during the third quarter. LSV Asset Management now owns 27,598 shares of the bank’s stock valued at $872,000 after buying an additional 709 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of ACNB by 21.0% during the fourth quarter. SG Americas Securities LLC now owns 4,585 shares of the bank’s stock worth $205,000 after buying an additional 795 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in ACNB by 2,578.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,732 shares of the bank’s stock valued at $86,000 after acquiring an additional 2,630 shares during the period. 32.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ACNB has been the subject of a number of analyst reports. StockNews.com upgraded ACNB from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. Piper Sandler reduced their price objective on shares of ACNB from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st.

ACNB Stock Performance

Shares of NASDAQ ACNB opened at $33.34 on Tuesday. ACNB Co. has a 1 year low of $27.50 and a 1 year high of $48.55. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a fifty day moving average price of $34.53 and a two-hundred day moving average price of $38.11. The firm has a market cap of $283.72 million, a P/E ratio of 9.64 and a beta of 0.64.

ACNB (NASDAQ:ACNB) last released its earnings results on Thursday, April 25th. The bank reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. ACNB had a return on equity of 11.18% and a net margin of 24.98%. The firm had revenue of $31.64 million for the quarter, compared to analyst estimates of $26.28 million. Research analysts forecast that ACNB Co. will post 3.3 EPS for the current fiscal year.

ACNB Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, May 31st. This is a positive change from ACNB’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a yield of 3.84%. ACNB’s dividend payout ratio is currently 34.68%.

ACNB Company Profile

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.