Cambridge Investment Research Advisors Inc. Acquires New Position in ACNB Corporation (NASDAQ:ACNB)

Cambridge Investment Research Advisors Inc. purchased a new stake in ACNB Corporation (NASDAQ:ACNB) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 4,926 shares of the bank’s stock, valued at approximately $203,000.

Other hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC grew its stake in shares of ACNB by 431.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,505 shares of the bank’s stock valued at $60,000 after buying an additional 1,222 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of ACNB by 29.7% in the 4th quarter. Wells Fargo & Company MN now owns 5,004 shares of the bank’s stock worth $199,000 after acquiring an additional 1,147 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of ACNB in the 4th quarter worth approximately $207,000. Voya Investment Management LLC acquired a new position in shares of ACNB in the 4th quarter worth approximately $271,000. Finally, Millennium Management LLC lifted its holdings in shares of ACNB by 34.9% in the 4th quarter. Millennium Management LLC now owns 7,627 shares of the bank’s stock worth $304,000 after acquiring an additional 1,972 shares during the last quarter. Hedge funds and other institutional investors own 32.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. UBS Group set a $47.00 target price on shares of ACNB in a report on Friday, March 21st. Wall Street Zen upgraded shares of ACNB from a “sell” rating to a “hold” rating in a report on Monday, May 12th. Finally, Raymond James Financial assumed coverage on shares of ACNB in a report on Friday, March 21st. They set an “outperform” rating and a $47.00 target price on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.40.

ACNB Price Performance

Shares of ACNB opened at $43.69 on Tuesday. ACNB Corporation has a twelve month low of $35.37 and a twelve month high of $50.72. The firm’s fifty day simple moving average is $42.60 and its 200-day simple moving average is $41.18. The firm has a market capitalization of $457.43 million, a price-to-earnings ratio of 15.07 and a beta of 0.84. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.66.

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

ACNB Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were issued a $0.34 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.11%. This is an increase from ACNB’s previous quarterly dividend of $0.32. ACNB’s dividend payout ratio is presently 46.90%.

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.