Key Points
- Director Scott Kelley bought 396 ACNB shares at an average price of $40 on Nov. 20, increasing his holdings to 27,425 shares (a 1.47% boost) in a $15,840 transaction disclosed in an SEC filing.
- ACNB beat the latest quarterly expectations with EPS of $1.42 versus $1.20 and revenue of $40.54M, and the stock trades at a market cap of about $505M with a P/E of 14.87.
- The company raised its quarterly dividend to $0.38 (from $0.34), implying an annualized $1.52 and a yield of roughly 3.1%, with an ex-dividend date of Dec. 1 and payment on Dec. 15.
ACNB Corporation (NASDAQ:ACNB - Get Free Report) Director Scott Kelley acquired 396 shares of ACNB stock in a transaction on Thursday, November 20th. The stock was acquired at an average cost of $40.00 per share, for a total transaction of $15,840.00. Following the purchase, the director owned 27,425 shares of the company's stock, valued at approximately $1,097,000. This represents a 1.47% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
ACNB Price Performance
Shares of NASDAQ:ACNB traded up $1.42 during midday trading on Friday, reaching $48.61. The company's stock had a trading volume of 36,424 shares, compared to its average volume of 27,659. ACNB Corporation has a fifty-two week low of $35.70 and a fifty-two week high of $49.25. The business's fifty day simple moving average is $45.09 and its 200-day simple moving average is $43.89. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.95 and a quick ratio of 0.94. The company has a market capitalization of $504.81 million, a P/E ratio of 14.87 and a beta of 0.95.
ACNB (NASDAQ:ACNB - Get Free Report) last posted its quarterly earnings data 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. ACNB had a net margin of 18.47% and a return on equity of 11.95%. The firm had revenue of $40.54 million during the quarter, compared to analysts' expectations of $39.83 million. As a group, equities research analysts expect 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. Investors of record on Monday, December 1st will be given a $0.38 dividend. This is a boost from ACNB's previous quarterly dividend of $0.34. The ex-dividend date is Monday, December 1st. This represents a $1.52 annualized dividend and a yield of 3.1%. ACNB's dividend payout ratio is presently 46.48%.
Wall Street Analyst Weigh In
A number of research analysts have commented on ACNB shares. Weiss Ratings reiterated a "buy (b-)" rating on shares of ACNB in a research report on Monday. 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 shares of ACNB from a "hold" rating to a "buy" rating in a research report on Saturday, November 15th. Finally, Piper Sandler lifted their price target 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. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, ACNB currently has an average rating of "Buy" and an average target price of $48.67.
View Our Latest Report on ACNB
Hedge Funds Weigh In On ACNB
Several hedge funds have recently added to or reduced their stakes in ACNB. Allworth Financial LP grew its position in shares of ACNB by 42.9% during the 2nd quarter. Allworth Financial LP now owns 1,000 shares of the bank's stock worth $43,000 after buying an additional 300 shares during the period. BNP Paribas Financial Markets boosted its stake in ACNB by 56.5% during the 2nd 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 last quarter. Russell Investments Group Ltd. acquired a new position in ACNB during the third quarter valued at approximately $45,000. Tripletail Wealth Management LLC bought a new stake in ACNB in the third quarter valued at approximately $46,000. Finally, Tower Research Capital LLC TRC raised its holdings in 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 purchasing an additional 856 shares during the period. Institutional investors and hedge funds own 32.35% of the company's stock.
ACNB Company Profile
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
