Empowered Funds LLC Has $2.07 Million Position in ACNB Co. (NASDAQ:ACNB)

Empowered Funds LLC raised its stake in shares of ACNB Co. (NASDAQ:ACNB) by 5.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,408 shares of the bank’s stock after purchasing an additional 2,412 shares during the quarter. Empowered Funds LLC owned 0.55% of ACNB worth $2,070,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new position in ACNB in the third quarter valued at approximately $834,000. Ellsworth Advisors LLC bought a new position in ACNB during the 3rd quarter worth $547,000. SPC Financial Inc. acquired a new stake in shares of ACNB during the 3rd quarter worth approximately $271,000. Vanguard Group Inc. boosted its position in ACNB by 1.4% in the first 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 in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in ACNB by 2.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 253,306 shares of the bank’s stock valued at $9,186,000 after acquiring an additional 5,119 shares during the period. Institutional investors own 32.35% of the company’s stock.

ACNB Stock Performance

ACNB opened at $47.17 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.83. ACNB Co. has a 52-week low of $30.24 and a 52-week high of $50.72. The company has a market cap of $403.30 million, a P/E ratio of 13.71 and a beta of 0.61. The firm’s 50-day moving average price is $43.71 and its 200-day moving average price is $38.74.

ACNB (NASDAQ:ACNB) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.04). ACNB had a net margin of 23.43% and a return on equity of 10.18%. The company had revenue of $34.07 million during the quarter, compared to analysts’ expectations of $27.51 million. As a group, equities analysts anticipate that ACNB Co. will post 3.3 EPS for the current fiscal year.

ACNB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 annualized dividend and a yield of 2.71%. ACNB’s dividend payout ratio is currently 37.21%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Janney Montgomery Scott started coverage on ACNB in a research note on Tuesday. They issued a “buy” rating and a $53.00 price objective for the company. Hovde Group upgraded shares of ACNB from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Wednesday, July 31st. Finally, StockNews.com raised ACNB from a “sell” rating to a “hold” rating in a research note on Friday, November 15th.

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.