Two Sigma Investments LP Has $329,000 Position in ACNB Co. (NASDAQ:ACNB)

Two Sigma Investments LP cut its stake in shares of ACNB Co. (NASDAQ:ACNB) by 26.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,260 shares of the bank’s stock after selling 2,953 shares during the quarter. Two Sigma Investments LP owned approximately 0.10% of ACNB worth $329,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in ACNB by 4.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 273,669 shares of the bank’s stock worth $10,900,000 after buying an additional 10,796 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of ACNB by 6.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 124,228 shares of the bank’s stock valued at $4,948,000 after purchasing an additional 8,032 shares during the period. American Century Companies Inc. lifted its stake in shares of 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. Bridgeway Capital Management LLC lifted its stake in shares of ACNB by 2.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 101,187 shares of the bank’s stock valued at $4,030,000 after purchasing an additional 2,379 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of ACNB by 0.9% in the 4th quarter. Northern Trust Corp now owns 68,638 shares of the bank’s stock valued at $2,734,000 after purchasing an additional 618 shares during the period. 32.35% of the stock is owned by institutional investors and hedge funds.

ACNB Stock Performance

Shares of ACNB stock opened at $42.88 on Wednesday. ACNB Co. has a one year low of $30.52 and a one year high of $50.72. The firm has a market capitalization of $449.13 million, a price-to-earnings ratio of 11.50 and a beta of 0.85. The business has a 50-day simple moving average of $41.57 and a 200 day simple moving average of $41.57. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.94 and a quick ratio of 0.94.

ACNB (NASDAQ:ACNB) last issued its earnings results on Thursday, April 24th. The bank reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.09. ACNB had a return on equity of 10.91% and a net margin of 24.09%. The business had revenue of $34.27 million during the quarter, compared to analyst estimates of $32.65 million. On average, research analysts anticipate that ACNB Co. will post 3.22 earnings per share for the current fiscal year.

ACNB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders 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. This represents a $1.36 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Friday, May 30th. ACNB’s payout ratio is currently 46.90%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ACNB shares. UBS Group set a $47.00 price objective on ACNB in a research note on Friday, March 21st. Piper Sandler raised ACNB from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $37.00 to $50.00 in a research note on Monday, March 3rd. Raymond James started coverage on ACNB in a research note on Friday, March 21st. They issued an “outperform” rating and a $47.00 price objective on the stock. Finally, Wall Street Zen raised ACNB from a “sell” rating to a “hold” rating in a research note on Monday, May 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, ACNB has an average rating of “Moderate Buy” and a consensus price target of $48.40.

About ACNB

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.