ACNB Co. Announces Quarterly Dividend of $0.32 (NASDAQ:ACNB)

ACNB Co. (NASDAQ:ACNB) announced a quarterly dividend on Tuesday, October 15th,Zacks Dividends reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.32 per share by the bank on Friday, December 13th. This represents a $1.28 annualized dividend and a yield of 2.73%. The ex-dividend date is Friday, November 29th.

ACNB has raised its dividend payment by an average of 4.5% annually over the last three years. ACNB has a payout ratio of 34.9% meaning its dividend is sufficiently covered by earnings. Analysts expect ACNB to earn $3.22 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 39.8%.

ACNB Stock Performance

ACNB opened at $46.81 on Wednesday. The firm has a 50 day moving average of $44.09 and a two-hundred day moving average of $39.10. The firm has a market capitalization of $400.18 million, a PE ratio of 13.61 and a beta of 0.61. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.83. ACNB has a 12-month low of $30.24 and a 12-month high of $50.72.

ACNB (NASDAQ:ACNB) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $0.84 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.04). The business had revenue of $34.07 million during the quarter, compared to analysts’ expectations of $27.51 million. ACNB had a net margin of 23.43% and a return on equity of 10.18%. On average, analysts anticipate that ACNB will post 3.56 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. StockNews.com upgraded shares of ACNB from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Hovde Group upgraded ACNB from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research report on Wednesday, July 31st. Finally, Janney Montgomery Scott assumed coverage on ACNB in a research report on Tuesday, November 19th. They set a “buy” rating and a $53.00 target price on the stock.

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.