JPMorgan Chase & Co. Purchases 16,214 Shares of ACNB Co. (NASDAQ:ACNB)

JPMorgan Chase & Co. boosted its position in ACNB Co. (NASDAQ:ACNB - Free Report) by 145.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,362 shares of the bank's stock after purchasing an additional 16,214 shares during the period. JPMorgan Chase & Co. owned 0.32% of ACNB worth $1,090,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. American Century Companies Inc. increased its stake in shares of ACNB by 9.1% in the fourth quarter. American Century Companies Inc. now owns 101,437 shares of the bank's stock valued at $4,040,000 after buying an additional 8,486 shares during the period. SPC Financial Inc. increased its position in ACNB by 87.3% in the 4th quarter. SPC Financial Inc. now owns 11,610 shares of the bank's stock valued at $462,000 after acquiring an additional 5,410 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of ACNB by 6.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,843 shares of the bank's stock valued at $989,000 after acquiring an additional 1,500 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of ACNB by 3.3% during the fourth quarter. Bank of New York Mellon Corp now owns 24,524 shares of the bank's stock valued at $977,000 after acquiring an additional 785 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of ACNB by 2.2% in the fourth quarter. Rhumbline Advisers now owns 12,405 shares of the bank's stock worth $494,000 after purchasing an additional 268 shares during the last quarter. 32.35% of the stock is currently owned by institutional investors.

ACNB Stock Performance

ACNB stock opened at $40.98 on Monday. The firm has a market cap of $432.05 million, a PE ratio of 10.99 and a beta of 0.69. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.83. The stock has a 50-day moving average price of $40.68 and a 200-day moving average price of $42.07. ACNB Co. has a 1-year low of $30.24 and a 1-year high of $50.72.

ACNB (NASDAQ:ACNB - Get Free Report) last issued its earnings results on Thursday, April 24th. The bank reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.94 by $0.09. The business had revenue of $34.27 million during the quarter, compared to the consensus estimate of $32.65 million. ACNB had a return on equity of 10.91% and a net margin of 24.09%. As a group, equities research analysts expect that ACNB Co. will post 3.22 earnings per share for the current year.

ACNB Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, May 30th. This is an increase from ACNB's previous quarterly dividend of $0.32. ACNB's payout ratio is presently 34.32%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Piper Sandler raised ACNB from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $37.00 to $50.00 in a research report on Monday, March 3rd. Raymond James assumed coverage on ACNB in a research report on Friday, March 21st. They set an "outperform" rating and a $47.00 price objective for the company. Finally, UBS Group set a $47.00 target price on ACNB in a report on Friday, March 21st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, ACNB presently has an average rating of "Moderate Buy" and a consensus target price of $48.40.

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.

Want to see what other hedge funds are holding ACNB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ACNB Co. (NASDAQ:ACNB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.