Assenagon Asset Management S.A. Makes New $834,000 Investment in ACNB Co. (NASDAQ:ACNB)

Assenagon Asset Management S.A. bought a new position in ACNB Co. (NASDAQ:ACNB) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 19,102 shares of the bank’s stock, valued at approximately $834,000. Assenagon Asset Management S.A. owned approximately 0.22% of ACNB as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of ACNB by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 425,755 shares of the bank’s stock valued at $16,008,000 after buying an additional 5,724 shares during the last quarter. Ellsworth Advisors LLC bought a new stake in shares of ACNB in the 3rd quarter valued at about $547,000. Bank of New York Mellon Corp grew its position in shares of ACNB by 8.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 30,534 shares of the bank’s stock valued at $1,107,000 after buying an additional 2,437 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of ACNB by 83.3% in the 1st quarter. BNP Paribas Financial Markets now owns 4,091 shares of the bank’s stock valued at $154,000 after buying an additional 1,859 shares during the last quarter. Finally, Empowered Funds LLC grew its position in shares of ACNB by 8.2% in the 1st quarter. Empowered Funds LLC now owns 41,756 shares of the bank’s stock valued at $1,570,000 after buying an additional 3,150 shares during the last quarter. Institutional investors own 32.35% of the company’s stock.

Analyst Ratings Changes

ACNB has been the topic of a number of analyst reports. Hovde Group upgraded ACNB from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research report on Wednesday, July 31st. StockNews.com upgraded ACNB from a “sell” rating to a “hold” rating in a research report on Thursday, July 25th.

ACNB Stock Down 0.9 %

Shares of ACNB stock opened at $41.64 on Friday. ACNB Co. has a one year low of $30.24 and a one year high of $48.55. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.93 and a quick ratio of 0.93. The stock’s 50-day moving average is $42.12 and its 200 day moving average is $37.44. The firm has a market cap of $355.98 million, a price-to-earnings ratio of 12.10 and a beta of 0.60.

ACNB (NASDAQ:ACNB) last announced its earnings results on Thursday, October 24th. The bank reported $0.84 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.04). ACNB had a net margin of 23.43% and a return on equity of 10.40%. The business had revenue of $34.07 million for the quarter, compared to the consensus estimate of $27.51 million. Equities research analysts anticipate that ACNB Co. will post 3.3 EPS for the current year.

ACNB Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.32 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.28 annualized dividend and a yield of 3.07%. ACNB’s payout ratio is currently 37.21%.

ACNB Profile

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.