ACNB Co. (ACNB) to Issue Quarterly Dividend of $0.30 on March 15th

ACNB Co. (NASDAQ:ACNBGet Free Report) announced a quarterly dividend on Tuesday, January 23rd, Zacks reports. Investors of record on Friday, March 1st will be paid a dividend of 0.30 per share by the bank on Friday, March 15th. This represents a $1.20 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Thursday, February 29th.

ACNB has increased its dividend payment by an average of 4.5% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. ACNB has a dividend payout ratio of 34.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect ACNB to earn $3.46 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 34.7%.

ACNB Trading Up 0.2 %

NASDAQ ACNB opened at $35.97 on Tuesday. The company has a fifty day moving average of $41.98 and a 200 day moving average of $37.49. The company has a market capitalization of $306.03 million, a PE ratio of 9.67 and a beta of 0.63. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.84 and a quick ratio of 0.84. ACNB has a 1 year low of $27.00 and a 1 year high of $48.55.

ACNB (NASDAQ:ACNBGet Free Report) last announced its quarterly earnings results on Thursday, January 25th. The bank reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.48). ACNB had a net margin of 27.53% and a return on equity of 12.37%. The company had revenue of $22.46 million during the quarter, compared to analyst estimates of $27.75 million. Research analysts forecast that ACNB will post 3.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ACNB has been the topic of a number of recent analyst reports. Hovde Group downgraded ACNB from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $40.00 to $47.00 in a research report on Monday, December 18th. StockNews.com cut shares of ACNB from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Finally, Piper Sandler lifted their target price on shares of ACNB from $43.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, December 18th.

Read Our Latest Research Report on ACNB

Hedge Funds Weigh In On ACNB

A number of institutional investors have recently bought and sold shares of ACNB. Lazard Asset Management LLC purchased a new position in ACNB in the fourth quarter worth approximately $28,000. Tower Research Capital LLC TRC lifted its stake in shares of ACNB by 78.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,974 shares of the bank’s stock valued at $60,000 after purchasing an additional 865 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of ACNB by 16,530.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,162 shares of the bank’s stock worth $64,000 after purchasing an additional 2,149 shares during the period. Citigroup Inc. increased its position in shares of ACNB by 124,050.0% during the 2nd quarter. Citigroup Inc. now owns 2,483 shares of the bank’s stock worth $82,000 after purchasing an additional 2,481 shares during the last quarter. Finally, Barclays PLC raised its holdings in ACNB by 533.0% in the 4th quarter. Barclays PLC now owns 2,222 shares of the bank’s stock valued at $88,000 after buying an additional 1,871 shares during the period. 30.03% of the stock is owned by hedge funds and other institutional investors.

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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Dividend History for ACNB (NASDAQ:ACNB)

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