ACNB (NASDAQ:ACNB) Reaches New 12-Month High Following Strong Earnings

ACNB Corporation (NASDAQ:ACNB) shares reached a new 52-week high during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $62.46 and last traded at $62.0870, with a volume of 16224 shares traded. The stock had previously closed at $60.53.

The bank reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.11. The firm had revenue of $42.82 million for the quarter, compared to analysts’ expectations of $42.21 million. ACNB had a return on equity of 13.15% and a net margin of 25.66%.

ACNB Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a $0.42 dividend. This is an increase from ACNB’s previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Monday, June 1st. ACNB’s dividend payout ratio (DPR) is currently 34.36%.

Analysts Set New Price Targets

A number of analysts recently commented on ACNB shares. Wall Street Zen cut ACNB from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. Hovde Group lowered shares of ACNB from an “outperform” rating to a “market perform” rating and upped their target price for the company from $56.00 to $57.00 in a report on Wednesday, May 27th. Piper Sandler upped their target price on shares of ACNB from $58.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Finally, Weiss Ratings raised shares of ACNB from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, ACNB currently has an average rating of “Hold” and a consensus price target of $61.00.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Equitable Trust Co. lifted its position in ACNB by 2.3% during the first quarter. Equitable Trust Co. now owns 9,470 shares of the bank’s stock valued at $453,000 after buying an additional 210 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of ACNB by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,942 shares of the bank’s stock worth $203,000 after acquiring an additional 234 shares in the last quarter. First Trust Advisors LP increased its position in shares of ACNB by 5.2% in the second quarter. First Trust Advisors LP now owns 6,725 shares of the bank’s stock worth $288,000 after acquiring an additional 334 shares in the last quarter. BNP Paribas Financial Markets increased 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 in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of ACNB by 37.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,219 shares of the bank’s stock valued at $107,000 after acquiring an additional 600 shares during the period. 32.35% of the stock is owned by hedge funds and other institutional investors.

ACNB Stock Performance

The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The firm has a market cap of $641.80 million, a PE ratio of 12.85 and a beta of 0.87. The stock’s 50 day moving average price is $57.35 and its 200 day moving average price is $52.53.

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.