Key Points
- Insider sale: EVP Brett Fulk sold 2,773 shares on December 15 at an average price of $52.27 for about $144,945, leaving him with 3,306 shares — a 45.62% reduction in his ownership.
- Dividend raised: ACNB increased its quarterly dividend to $0.38 (annualized $1.52), yielding 2.9% with a payout ratio of 46.48%.
- Financials and outlook: ACNB beat recent quarterly estimates with EPS of $1.42 versus $1.20 expected and revenue of $40.54M; analysts give a consensus rating of "Moderate Buy" with an average price target of $48.67 and recent upward notes from Piper Sandler.
ACNB Corporation (NASDAQ:ACNB - Get Free Report) EVP Brett Fulk sold 2,773 shares of the company's stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $52.27, for a total value of $144,944.71. Following the sale, the executive vice president owned 3,306 shares of the company's stock, valued at $172,804.62. This represents a 45.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
ACNB Trading Up 0.3%
Shares of NASDAQ ACNB traded up $0.14 during midday trading on Thursday, hitting $52.99. The stock had a trading volume of 5,137 shares, compared to its average volume of 27,500. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.62. ACNB Corporation has a 1-year low of $35.70 and a 1-year high of $53.41. The company has a market capitalization of $550.57 million, a price-to-earnings ratio of 16.20 and a beta of 0.87. The company has a fifty day moving average price of $47.15 and a 200 day moving average price of $44.79.
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, topping analysts' consensus estimates of $1.20 by $0.22. The firm 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%. On average, analysts predict that ACNB Corporation will post 3.22 earnings per share for the current year.
ACNB Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a $0.38 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.9%. This is a boost from ACNB's previous quarterly dividend of $0.34. ACNB's payout ratio is 46.48%.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on ACNB. Piper Sandler upped 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. Weiss Ratings reiterated a "hold (c+)" rating on shares of ACNB in a report on Monday. Raymond James Financial downgraded shares of ACNB from an "outperform" rating to a "market perform" rating in a research report on Tuesday, October 7th. Wall Street Zen upgraded shares of ACNB from a "hold" rating to a "buy" rating in a research note on Saturday, November 15th. Finally, Zacks Research raised shares of ACNB from a "hold" rating to a "strong-buy" rating in a research report on Thursday, October 30th. One 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 MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $48.67.
View Our Latest Research Report on ACNB
Hedge Funds Weigh In On ACNB
Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of ACNB by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 490,884 shares of the bank's stock valued at $20,205,000 after buying an additional 46,151 shares during the last quarter. Private Capital Management LLC increased its stake in shares of ACNB by 9.9% in the third quarter. Private Capital Management LLC now owns 345,626 shares of the bank's stock worth $15,221,000 after buying an additional 31,113 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in ACNB by 2.7% in the third quarter. Dimensional Fund Advisors LP now owns 311,278 shares of the bank's stock valued at $13,708,000 after acquiring an additional 8,157 shares in the last quarter. Geode Capital Management LLC boosted its stake in ACNB by 11.5% during the 2nd quarter. Geode Capital Management LLC now owns 243,474 shares of the bank's stock valued at $10,432,000 after acquiring an additional 25,142 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in ACNB by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 148,523 shares of the bank's stock valued at $6,363,000 after acquiring an additional 1,224 shares during the last quarter. 32.35% of the stock is owned by institutional investors and hedge funds.
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.
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