ACNB Corporation (NASDAQ:ACNB) Receives $61.00 Consensus Price Target from Analysts

ACNB Corporation (NASDAQ:ACNB) has received a consensus recommendation of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $61.00.

Several brokerages have recently commented on ACNB. Hovde Group lowered ACNB from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $56.00 to $57.00 in a research report on Wednesday, May 27th. Piper Sandler boosted their target price on ACNB from $58.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Weiss Ratings raised ACNB from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Finally, Wall Street Zen lowered ACNB from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th.

Hedge Funds Weigh In On ACNB

Several institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its stake in 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 purchasing an additional 374 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in ACNB during the third quarter valued at about $45,000. First United Bank & Trust bought a new position in shares of ACNB during the first quarter valued at about $47,000. Cassaday & Co Wealth Management LLC bought a new position in shares of ACNB during the first quarter valued at about $71,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of ACNB by 98.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,727 shares of the bank’s stock worth $74,000 after buying an additional 856 shares during the period. Institutional investors own 32.35% of the company’s stock.

ACNB Stock Down 2.4%

Shares of NASDAQ:ACNB opened at $60.45 on Thursday. ACNB has a 52-week low of $40.80 and a 52-week high of $62.07. The firm has a fifty day moving average of $56.64 and a 200 day moving average of $52.14. The firm has a market capitalization of $617.19 million, a PE ratio of 12.36 and a beta of 0.87. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 0.94.

ACNB (NASDAQ:ACNB) last released its earnings results on Thursday, April 23rd. The bank reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.06. ACNB had a return on equity of 13.15% and a net margin of 25.66%.The business had revenue of $40.79 million for the quarter, compared to analysts’ expectations of $41.07 million. As a group, research analysts anticipate that ACNB will post 5.49 EPS for the current fiscal year.

ACNB Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Monday, June 1st. This is a positive change from ACNB’s previous quarterly dividend of $0.38. ACNB’s dividend payout ratio (DPR) is presently 34.36%.

ACNB Company 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.