GAMMA Investing LLC Acquires 20,470 Shares of ACNB Corporation (NASDAQ:ACNB)

GAMMA Investing LLC raised its position in ACNB Corporation (NASDAQ:ACNB) by 13,556.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,621 shares of the bank’s stock after buying an additional 20,470 shares during the quarter. GAMMA Investing LLC owned about 0.20% of ACNB worth $849,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rhumbline Advisers lifted its stake in shares of ACNB by 2.2% in the 4th quarter. Rhumbline Advisers now owns 12,405 shares of the bank’s stock valued at $494,000 after acquiring an additional 268 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in ACNB by 3.3% during the fourth quarter. Bank of New York Mellon Corp now owns 24,524 shares of the bank’s stock valued at $977,000 after acquiring an additional 785 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of ACNB by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,843 shares of the bank’s stock worth $989,000 after purchasing an additional 1,500 shares during the last quarter. SPC Financial Inc. grew its position in ACNB by 87.3% in the fourth quarter. SPC Financial Inc. now owns 11,610 shares of the bank’s stock worth $462,000 after acquiring an additional 5,410 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of ACNB by 9.1% during the fourth quarter. American Century Companies Inc. now owns 101,437 shares of the bank’s stock valued at $4,040,000 after buying an additional 8,486 shares during the period. 32.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

ACNB Trading Down 0.6%

NASDAQ ACNB opened at $40.29 on Wednesday. The company’s fifty day moving average price is $41.81 and its two-hundred day moving average price is $41.37. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.95 and a quick ratio of 0.94. ACNB Corporation has a 12 month low of $31.16 and a 12 month high of $50.72. The company has a market capitalization of $421.84 million, a price-to-earnings ratio of 13.89 and a beta of 0.85.

ACNB (NASDAQ:ACNB) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.09. The company had revenue of $34.27 million for the quarter, compared to analysts’ expectations of $32.65 million. ACNB had a net margin of 17.22% and a return on equity of 10.95%. As a group, research analysts predict that ACNB Corporation will post 3.22 earnings per share for the current fiscal year.

ACNB Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were issued a dividend of $0.34 per share. This is an increase from ACNB’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 3.38%. The ex-dividend date was Friday, May 30th. ACNB’s dividend payout ratio is currently 46.90%.

ACNB 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.