ACNB (NASDAQ:ACNB) Issues Quarterly Earnings Results, Hits Expectations

ACNB (NASDAQ:ACNB) posted its quarterly earnings data on Thursday. The bank reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80, Yahoo Finance reports. ACNB had a net margin of 24.98% and a return on equity of 11.18%. The company had revenue of $31.64 million during the quarter, compared to analysts’ expectations of $26.28 million.

ACNB Stock Up 2.9 %

ACNB stock traded up $0.96 during midday trading on Friday, hitting $34.16. 6,543 shares of the company’s stock were exchanged, compared to its average volume of 10,288. The firm has a 50 day moving average price of $35.02 and a 200-day moving average price of $38.02. ACNB has a 12-month low of $27.00 and a 12-month high of $48.55. The stock has a market capitalization of $290.70 million, a price-to-earnings ratio of 9.87 and a beta of 0.60. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.70.

ACNB Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.28 dividend on an annualized basis and a yield of 3.75%. This is an increase from ACNB’s previous quarterly dividend of $0.30. ACNB’s dividend payout ratio is currently 34.68%.

About ACNB

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.