ACNB (NASDAQ:ACNB) Sees Unusually-High Trading Volume – Time to Buy?

Shares of ACNB Corporation (NASDAQ:ACNB) saw unusually-high trading volume on Friday . Approximately 29,390 shares traded hands during mid-day trading, an increase of 54% from the previous session’s volume of 19,073 shares.The stock last traded at $49.1140 and had previously closed at $49.45.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Piper Sandler increased their price objective on shares of ACNB from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Zacks Research upgraded ACNB from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 30th. Raymond James Financial cut ACNB from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 7th. Wall Street Zen upgraded ACNB from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of ACNB in a report on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $48.67.

ACNB Stock Down 0.6%

The company has a fifty day simple moving average of $45.89 and a two-hundred day simple moving average of $44.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 0.96. The firm has a market capitalization of $510.77 million, a PE ratio of 15.03 and a beta of 0.87.

ACNB (NASDAQ:ACNB) last released its earnings results on Thursday, October 23rd. The bank reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.22. The company had revenue of $40.54 million during the quarter, compared to the consensus estimate of $39.83 million. ACNB had a return on equity of 11.58% and a net margin of 18.47%. Analysts forecast that ACNB Corporation will post 3.22 EPS for the current fiscal year.

ACNB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $0.38 dividend. The ex-dividend date is Monday, December 1st. This is an increase from ACNB’s previous quarterly dividend of $0.34. This represents a $1.52 annualized dividend and a dividend yield of 3.1%. ACNB’s payout ratio is 46.48%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ACNB. Vanguard Group Inc. raised its position in ACNB by 10.4% in the 1st quarter. Vanguard Group Inc. now owns 490,884 shares of the bank’s stock valued at $20,205,000 after purchasing an additional 46,151 shares in the last quarter. Invesco Ltd. increased its stake in shares of ACNB by 12.8% during the first quarter. Invesco Ltd. now owns 19,325 shares of the bank’s stock worth $795,000 after buying an additional 2,194 shares during the period. Bare Financial Services Inc acquired a new stake in ACNB in the first quarter valued at approximately $347,000. Nuveen LLC acquired a new stake in ACNB in the first quarter valued at approximately $717,000. Finally, American Century Companies Inc. lifted its stake in ACNB by 7.4% in the first quarter. American Century Companies Inc. now owns 108,900 shares of the bank’s stock worth $4,482,000 after acquiring an additional 7,463 shares during the last quarter. 32.35% of the stock is owned by institutional investors and hedge funds.

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.