Bank of New York Mellon Corp Increases Stake in ACNB Co. (NASDAQ:ACNB)

Bank of New York Mellon Corp grew its stake in shares of ACNB Co. (NASDAQ:ACNB) by 8.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,534 shares of the bank’s stock after purchasing an additional 2,437 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.36% of ACNB worth $1,107,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BNP Paribas Financial Markets raised its holdings in ACNB by 83.3% during 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. Empowered Funds LLC increased its position in shares of ACNB by 8.2% in the first quarter. Empowered Funds LLC now owns 41,756 shares of the bank’s stock valued at $1,570,000 after acquiring an additional 3,150 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of ACNB by 1.4% during the first quarter. Vanguard Group Inc. now owns 425,755 shares of the bank’s stock valued at $16,008,000 after acquiring an additional 5,724 shares during the last quarter. Institutional investors own 32.35% of the company’s stock.

ACNB Stock Down 1.2 %

Shares of NASDAQ ACNB opened at $43.47 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.88. ACNB Co. has a 12 month low of $30.24 and a 12 month high of $48.55. The firm has a fifty day simple moving average of $40.08 and a two-hundred day simple moving average of $35.82. The firm has a market capitalization of $371.23 million, a PE ratio of 12.56 and a beta of 0.60.

ACNB (NASDAQ:ACNB) last announced its quarterly earnings data on Wednesday, July 24th. The bank reported $1.32 EPS for the quarter, beating the consensus estimate of $0.84 by $0.48. The business had revenue of $33.30 million during the quarter, compared to analyst estimates of $26.66 million. ACNB had a return on equity of 11.32% and a net margin of 25.62%. Equities analysts expect that ACNB Co. will post 3.3 earnings per share for the current year.

ACNB Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date was Friday, August 30th. ACNB’s dividend payout ratio (DPR) is presently 36.99%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ACNB shares. StockNews.com raised ACNB from a “sell” rating to a “hold” rating in a research note on Thursday, July 25th. Hovde Group upgraded ACNB from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research report on Wednesday, July 31st.

ACNB Company 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.