Insider Buying: ACNB Co. (NASDAQ:ACNB) Chairman Purchases 492 Shares of Stock

ACNB Co. (NASDAQ:ACNB – Get Rating) Chairman Alan J. Stock bought 492 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The stock was purchased at an average cost of $30.25 per share, with a total value of $14,883.00. Following the completion of the transaction, the chairman now owns 62,391 shares in the company, valued at $1,887,327.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

ACNB Stock Performance

Shares of ACNB stock traded up $0.01 during trading hours on Friday, reaching $30.78. 313 shares of the company’s stock were exchanged, compared to its average volume of 9,442. ACNB Co. has a 1 year low of $27.00 and a 1 year high of $41.28. The company has a market cap of $262.25 million, a P/E ratio of 6.91 and a beta of 0.36. The company’s 50 day moving average is $30.53 and its two-hundred day moving average is $35.40. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.78 and a quick ratio of 0.78.

ACNB (NASDAQ:ACNB – Get Rating) last released its quarterly earnings data on Thursday, April 27th. The bank reported $1.06 earnings per share for the quarter. ACNB had a return on equity of 15.58% and a net margin of 33.13%. The firm had revenue of $28.08 million during the quarter. Equities research analysts anticipate that ACNB Co. will post 4.14 EPS for the current fiscal year.

ACNB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 3.64%. The ex-dividend date is Wednesday, May 31st. ACNB’s payout ratio is currently 25.17%.

Hedge Funds Weigh In On ACNB

Several hedge funds have recently bought and sold shares of the company. FMR LLC increased its position in ACNB by 0.6% during the second quarter. FMR LLC now owns 543,813 shares of the bank’s stock worth $16,146,000 after buying an additional 3,100 shares in the last quarter. Vanguard Group Inc. increased its position in ACNB by 1.0% during the first quarter. Vanguard Group Inc. now owns 377,109 shares of the bank’s stock worth $13,180,000 after buying an additional 3,687 shares in the last quarter. Fourthstone LLC boosted its holdings in shares of ACNB by 13.3% during the first quarter. Fourthstone LLC now owns 261,263 shares of the bank’s stock worth $9,131,000 after purchasing an additional 30,728 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of ACNB by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 223,359 shares of the bank’s stock worth $7,270,000 after purchasing an additional 5,662 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of ACNB by 3.0% during the first quarter. Geode Capital Management LLC now owns 158,978 shares of the bank’s stock worth $5,175,000 after purchasing an additional 4,591 shares during the last quarter. 28.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Piper Sandler assumed coverage on ACNB in a research report on Friday, May 19th. They issued a “neutral” rating and a $31.00 target price for the company. Piper Jaffray Companies assumed coverage on ACNB in a research report on Friday, May 19th. They issued a “neutral” rating and a $31.00 target price for the company. Finally, StockNews.com began coverage on ACNB in a research report on Thursday, May 18th. They issued a “hold” rating for the company.

About ACNB

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ACNB Corp. is a holding company. The firm engages in the provision of banking, financial and wealth management services. It operates through the following segments: Bank and RIG. The Bank segment offers bank and related financial services. The RIG segment offers property and casualty, life and health insurance to both commercial and individual clients.