Key Points
- SVP Kevin Hayes sold 750 shares at an average price of $51.30 for $38,475, cutting his stake by 22.18% to 2,632 shares, per an SEC Form 4 filing.
- ACNB declared a quarterly dividend of $0.38 per share (annualized $1.52) payable March 13, with record/ex-dividend date Feb 27, implying a ~2.9% yield and a 42.94% payout ratio.
- For the latest quarter ACNB reported EPS $1.35, beating the $1.26 estimate, with revenue of $40.74M versus $39.69M and a net margin of 19.32% (ROE 12.77%).
ACNB Corporation (NASDAQ:ACNB - Get Free Report) SVP Kevin Hayes sold 750 shares of the firm's stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $51.30, for a total value of $38,475.00. Following the completion of the transaction, the senior vice president owned 2,632 shares of the company's stock, valued at approximately $135,021.60. This represents a 22.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
ACNB Price Performance
ACNB stock opened at $53.16 on Thursday. The firm has a 50 day moving average of $49.73 and a 200-day moving average of $46.51. The firm has a market capitalization of $552.33 million, a P/E ratio of 15.02 and a beta of 0.87. ACNB Corporation has a 12 month low of $35.70 and a 12 month high of $53.41. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62.
ACNB (NASDAQ:ACNB - Get Free Report) last released its quarterly earnings results on Thursday, January 22nd. The bank reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.09. The firm had revenue of $40.74 million for the quarter, compared to analysts' expectations of $39.69 million. ACNB had a net margin of 19.32% and a return on equity of 12.77%. As a group, sell-side analysts predict that ACNB Corporation will post 3.22 earnings per share for the current fiscal year.
ACNB Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, February 27th. ACNB's payout ratio is currently 42.94%.
Institutional Investors Weigh In On ACNB
A number of large investors have recently made changes to their positions in the business. Allworth Financial LP boosted its holdings in ACNB by 42.9% in the second quarter. Allworth Financial LP now owns 1,000 shares of the bank's stock valued at $43,000 after acquiring an additional 300 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of ACNB by 56.5% in the 2nd 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 period. Russell Investments Group Ltd. bought a new stake in shares of ACNB during the 3rd quarter valued at about $45,000. Tripletail Wealth Management LLC bought a new position in ACNB in the third quarter worth about $46,000. Finally, Tower Research Capital LLC TRC raised its stake 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 buying an additional 856 shares in the last quarter. 32.35% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several brokerages have issued reports on ACNB. Zacks Research raised ACNB from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 30th. 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 note on Thursday, October 30th. Wall Street Zen upgraded shares of ACNB from a "hold" rating to a "buy" rating in a report on Saturday, November 15th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of ACNB in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, ACNB has an average rating of "Buy" and an average price target of $48.67.
View Our Latest Report on ACNB
About ACNB
(
Get Free Report)
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.
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