Financial Consulate Inc. Acquires Shares of 13,366 ACNB Corporation $ACNB

Financial Consulate Inc. acquired a new position in ACNB Corporation (NASDAQ:ACNB) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,366 shares of the bank’s stock, valued at approximately $589,000. Financial Consulate Inc. owned approximately 0.13% of ACNB at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ACNB. Allworth Financial LP lifted its stake in shares of ACNB by 42.9% in the 2nd quarter. Allworth Financial LP now owns 1,000 shares of the bank’s stock valued at $43,000 after purchasing an additional 300 shares during the period. BNP Paribas Financial Markets raised its position in shares of ACNB by 56.5% in the second quarter. BNP Paribas Financial Markets now owns 1,036 shares of the bank’s stock worth $44,000 after acquiring an additional 374 shares during the period. Tripletail Wealth Management LLC purchased a new stake in shares of ACNB during the 3rd quarter worth about $46,000. Tower Research Capital LLC TRC grew its position in shares of ACNB by 98.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,727 shares of the bank’s stock valued at $74,000 after acquiring an additional 856 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of ACNB during the 2nd quarter valued at about $80,000. Institutional investors and hedge funds own 32.35% of the company’s stock.

ACNB Trading Down 0.1%

Shares of ACNB stock opened at $48.35 on Friday. The stock’s fifty day moving average is $48.45 and its two-hundred day moving average is $45.40. 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 $502.36 million, a P/E ratio of 14.79 and a beta of 0.87. ACNB Corporation has a fifty-two week low of $35.70 and a fifty-two week high of $53.41.

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

ACNB Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a $0.38 dividend. This is a positive change from ACNB’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.52 dividend on an annualized basis and a yield of 3.1%. ACNB’s dividend payout ratio is 46.48%.

Insider Activity at ACNB

In other news, Director Donald Arthur Seibel, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $51.00, for a total value of $255,000.00. Following the completion of the sale, the director directly owned 5,927 shares in the company, valued at $302,277. This represents a 45.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Brett D. Fulk sold 2,773 shares of ACNB stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $52.27, for a total value of $144,944.71. Following the transaction, the executive vice president owned 3,306 shares in the company, valued at approximately $172,804.62. The trade was a 45.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ACNB shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of ACNB in a research report on Monday. Zacks Research raised shares of ACNB from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. Wall Street Zen upgraded shares of ACNB from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Raymond James Financial downgraded shares of ACNB from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 7th. Finally, Piper Sandler boosted their target price on shares of ACNB from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $48.67.

ACNB Profile

ACNB Corporation is the bank holding company for ACNB Bank, a community-focused financial institution headquartered in Gettysburg, Pennsylvania. Tracing its roots to a local banking organization established in the 19th century, the company has evolved into a regional banking franchise serving individuals, families and businesses across south-central Pennsylvania. As a publicly traded company on NASDAQ under the ticker ACNB, it operates under a traditional community banking model, emphasizing personal service and local decision-making.

The company’s main business activities encompass a full range of retail and commercial banking products.