ACNB (NASDAQ:ACNB) Director Purchases $15,840.00 in Stock

by · The Markets Daily

ACNB Corporation (NASDAQ:ACNB – Get Free Report) Director Scott Kelley bought 396 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was bought at an average cost of $40.00 per share, with a total value of $15,840.00. Following the completion of the acquisition, the director owned 27,425 shares in the company, valued at $1,097,000. This represents a 1.47% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

ACNB Price Performance

ACNB stock traded up $1.28 during trading on Friday, hitting $48.47. The company had a trading volume of 20,851 shares, compared to its average volume of 27,586. The company has a fifty day moving average price of $45.02 and a two-hundred day moving average price of $43.85. ACNB Corporation has a fifty-two week low of $35.70 and a fifty-two week high of $49.25. The company has a market cap of $503.31 million, a P/E ratio of 14.75 and a beta of 0.95. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.65.

ACNB (NASDAQ:ACNB – Get Free Report) last issued its earnings results on Thursday, October 23rd. The bank reported $1.42 EPS 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 company had revenue of $40.54 million for the quarter, compared to the consensus estimate of $39.83 million. Equities research analysts expect that ACNB Corporation will post 3.22 earnings per share for the current fiscal year.

ACNB Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from ACNB’s previous quarterly dividend of $0.34. This represents a $1.52 annualized dividend and a dividend yield of 3.1%. ACNB’s dividend payout ratio (DPR) is 46.48%.

Hedge Funds Weigh In On ACNB

Several hedge funds have recently added to or reduced their stakes in ACNB. Allworth Financial LP increased its position in ACNB by 42.9% in the second quarter. Allworth Financial LP now owns 1,000 shares of the bank’s stock worth $43,000 after purchasing an additional 300 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of ACNB during the 3rd quarter worth approximately $45,000. BNP Paribas Financial Markets grew its position in shares of 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 buying an additional 374 shares during the period. Tripletail Wealth Management LLC bought a new stake in shares of ACNB during the third quarter worth approximately $46,000. Finally, Tower Research Capital LLC TRC lifted 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 valued at $74,000 after buying an additional 856 shares during the period. Institutional investors own 32.35% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on ACNB shares. Piper Sandler boosted their target price on ACNB from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Zacks Research raised ACNB from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. Wall Street Zen upgraded ACNB from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Raymond James Financial lowered ACNB from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 7th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of ACNB in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, ACNB currently has a consensus rating of “Buy” and an average target price of $48.67.

Check Out Our Latest Analysis on ACNB

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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