Assenagon Asset Management S.A. Invests $834,000 in ACNB Co. (NASDAQ:ACNB)

Assenagon Asset Management S.A. bought a new position in shares of ACNB Co. (NASDAQ:ACNB - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 19,102 shares of the bank's stock, valued at approximately $834,000. Assenagon Asset Management S.A. owned approximately 0.22% of ACNB as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in ACNB in the third quarter valued at about $128,000. BNP Paribas Financial Markets boosted its stake in ACNB by 83.3% in the first 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 in the last quarter. SPC Financial Inc. acquired a new stake in ACNB in the third quarter valued at about $271,000. Ellsworth Advisors LLC acquired a new stake in ACNB in the third quarter valued at about $547,000. Finally, Renaissance Technologies LLC boosted its stake in ACNB by 1.7% in the second quarter. Renaissance Technologies LLC now owns 17,856 shares of the bank's stock valued at $648,000 after buying an additional 300 shares in the last quarter. 32.35% of the stock is owned by institutional investors and hedge funds.

ACNB Trading Down 0.9 %

ACNB stock traded down $0.36 during trading hours on Friday, hitting $41.64. The stock had a trading volume of 6,456 shares, compared to its average volume of 12,299. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.88. The stock has a market cap of $356.02 million, a price-to-earnings ratio of 12.10 and a beta of 0.61. ACNB Co. has a one year low of $30.24 and a one year high of $48.55. The business's 50 day simple moving average is $42.12 and its 200-day simple moving average is $37.47.

ACNB (NASDAQ:ACNB - Get Free Report) last posted its 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 firm had revenue of $34.07 million during the quarter, compared to the consensus estimate of $27.51 million. ACNB had a net margin of 23.43% and a return on equity of 10.40%. On average, equities analysts predict that ACNB Co. will post 3.3 EPS for the current fiscal year.

ACNB Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 annualized dividend and a yield of 3.07%. ACNB's dividend payout ratio is presently 37.21%.

Wall Street Analyst Weigh In

ACNB has been the topic of several research analyst reports. StockNews.com raised ACNB from a "sell" rating to a "hold" rating in a research note on Thursday, July 25th. Hovde Group raised ACNB from a "market perform" rating to an "outperform" rating and set a $45.00 price objective on the stock in a research note 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.