Geode Capital Management LLC Sells 741 Shares of ACNB Co. (NASDAQ:ACNB)

Geode Capital Management LLC decreased its holdings in shares of ACNB Co. (NASDAQ:ACNB) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 190,696 shares of the bank’s stock after selling 741 shares during the quarter. Geode Capital Management LLC owned about 2.23% of ACNB worth $7,597,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Barclays PLC boosted its position in shares of ACNB by 286.7% in the third quarter. Barclays PLC now owns 10,807 shares of the bank’s stock valued at $472,000 after acquiring an additional 8,012 shares during the period. State Street Corp raised its stake in ACNB by 3.5% during the 3rd quarter. State Street Corp now owns 142,024 shares of the bank’s stock valued at $6,202,000 after purchasing an additional 4,851 shares during the last quarter. American Century Companies Inc. boosted its holdings in ACNB by 9.1% in the 4th quarter. American Century Companies Inc. now owns 101,437 shares of the bank’s stock valued at $4,040,000 after purchasing an additional 8,486 shares during the period. Franklin Resources Inc. acquired a new stake in ACNB in the 3rd quarter worth $221,000. Finally, SG Americas Securities LLC increased its holdings in shares of ACNB by 35.3% during the 4th quarter. SG Americas Securities LLC now owns 3,963 shares of the bank’s stock worth $158,000 after purchasing an additional 1,035 shares during the period. Institutional investors and hedge funds own 32.35% of the company’s stock.

Analyst Upgrades and Downgrades

ACNB has been the subject of several research reports. UBS Group set a $47.00 target price on shares of ACNB in a research note on Friday, March 21st. Piper Sandler upgraded ACNB from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $37.00 to $50.00 in a research report on Monday, March 3rd. Finally, Raymond James began coverage on ACNB in a research report on Friday, March 21st. They set an “outperform” rating and a $47.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.40.

ACNB Price Performance

ACNB stock opened at $41.27 on Friday. The business has a 50 day simple moving average of $40.69 and a 200 day simple moving average of $42.07. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $435.11 million, a PE ratio of 11.06 and a beta of 0.69. ACNB Co. has a one year low of $30.24 and a one year high of $50.72.

ACNB (NASDAQ:ACNB) last issued its earnings results on Thursday, April 24th. The bank reported $1.03 EPS for the quarter, beating the consensus estimate of $0.92 by $0.11. ACNB had a net margin of 24.09% and a return on equity of 10.91%. On average, sell-side analysts forecast that ACNB Co. will post 3.22 EPS for the current fiscal year.

ACNB Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.34 per share. This is a positive change from ACNB’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.36 annualized dividend and a dividend yield of 3.30%. ACNB’s dividend payout ratio (DPR) is presently 34.32%.

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.