ACNB Co. (NASDAQ:ACNB) to Issue $0.32 Quarterly Dividend

ACNB Co. (NASDAQ:ACNB) declared 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 dividend yield of 2.73%. The ex-dividend date of this dividend 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. Equities research 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 Price Performance

NASDAQ ACNB opened at $46.96 on Thursday. The stock has a market capitalization of $401.51 million, a P/E ratio of 13.69 and a beta of 0.61. ACNB has a 1 year low of $30.24 and a 1 year high of $50.72. The business’s fifty day moving average is $44.17 and its two-hundred day moving average is $39.20. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.94 and a current ratio of 0.94.

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

Analysts Set New Price Targets

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

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.