Key Points
- Director sale: ACNB Director Donald Arthur Seibel, Jr. sold 5,000 shares on Dec. 11 at an average of $51.00 for $255,000, cutting his stake by 45.76% to 5,927 shares (≈$302,277).
- Dividend increase: The company raised its quarterly dividend to $0.38 (annualized $1.52) with an ex-dividend date of Dec. 1, implying a ~2.9% yield and a payout ratio of 46.48%.
- Earnings beat: ACNB reported Q3 EPS of $1.42 versus estimates of $1.20 and revenue of $40.54M vs. $39.83M, with analysts forecasting ~3.22 EPS for the year and a consensus target near $48.67.
ACNB Corporation (NASDAQ:ACNB - Get Free Report) Director Donald Arthur Seibel, Jr. sold 5,000 shares of ACNB stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $51.00, for a total transaction of $255,000.00. Following the sale, the director owned 5,927 shares of the company's stock, valued at approximately $302,277. The trade was a 45.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
ACNB Stock Up 0.1%
NASDAQ:ACNB opened at $51.66 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.96 and a quick ratio of 0.95. The company's fifty day moving average price is $46.62 and its 200-day moving average price is $44.55. ACNB Corporation has a 1-year low of $35.70 and a 1-year high of $52.26. The firm has a market capitalization of $536.75 million, a P/E ratio of 15.80 and a beta of 0.87.
ACNB (NASDAQ:ACNB - Get Free Report) last posted its earnings results on Thursday, October 23rd. The bank reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 18.47% and a return on equity of 11.58%. As a group, equities research analysts anticipate that ACNB Corporation will post 3.22 EPS for the current year.
ACNB Increases Dividend
The business also recently announced 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 a positive change from ACNB's previous quarterly dividend of $0.34. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.9%. ACNB's dividend payout ratio (DPR) is currently 46.48%.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on ACNB. Weiss Ratings cut ACNB from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday. Raymond James Financial cut shares of ACNB from an "outperform" rating to a "market perform" rating in a research note on Tuesday, October 7th. Wall Street Zen raised shares of ACNB from a "hold" rating to a "buy" rating in a report on Saturday, November 15th. Piper Sandler increased their price target on shares of ACNB from $50.00 to $52.00 and gave the stock an "overweight" rating in a report on Thursday, October 30th. Finally, Zacks Research upgraded shares of ACNB from a "hold" rating to a "strong-buy" rating in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, ACNB currently has an average rating of "Moderate Buy" and a consensus target price of $48.67.
Get Our Latest Research Report on ACNB
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Allworth Financial LP increased its holdings in ACNB by 42.9% in the 2nd quarter. Allworth Financial LP now owns 1,000 shares of the bank's stock worth $43,000 after acquiring an additional 300 shares in the last quarter. BNP Paribas Financial Markets grew 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 valued at $44,000 after purchasing an additional 374 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of ACNB during the third quarter worth about $45,000. Tripletail Wealth Management LLC purchased a new stake in shares of ACNB during the third quarter worth about $46,000. Finally, Tower Research Capital LLC TRC raised 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 worth $74,000 after purchasing an additional 856 shares during the last quarter. Hedge funds and other institutional investors own 32.35% of the company's stock.
About ACNB
(
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.
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