The Manufacturers Life Insurance Company Has $5.07 Million Holdings in ACNB Co. (NASDAQ:ACNB)

The Manufacturers Life Insurance Company lifted its stake in shares of ACNB Co. (NASDAQ:ACNB - Free Report) by 13.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 116,196 shares of the bank's stock after purchasing an additional 13,840 shares during the quarter. The Manufacturers Life Insurance Company owned 1.36% of ACNB worth $5,074,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Thrivent Financial for Lutherans acquired a new stake in shares of ACNB during the 3rd quarter worth approximately $300,000. Empowered Funds LLC boosted its holdings in shares of ACNB by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 47,408 shares of the bank's stock valued at $2,070,000 after purchasing an additional 2,412 shares in the last quarter. Haverford Trust Co bought a new position in shares of ACNB in the 3rd quarter valued at $200,000. RKL Wealth Management LLC raised its holdings in shares of ACNB by 3.3% during the 3rd quarter. RKL Wealth Management LLC now owns 10,098 shares of the bank's stock worth $441,000 after buying an additional 326 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of ACNB during the 3rd quarter worth $834,000. Institutional investors own 32.35% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Janney Montgomery Scott initiated coverage on ACNB in a research report on Tuesday, November 19th. They issued a "buy" rating and a $53.00 target price on the stock. StockNews.com raised shares of ACNB from a "sell" rating to a "hold" rating in a report on Friday, November 15th.

ACNB Price Performance

ACNB stock traded up $0.48 during midday trading on Friday, reaching $46.74. 8,357 shares of the stock were exchanged, compared to its average volume of 18,355. ACNB Co. has a 52 week low of $30.24 and a 52 week high of $50.72. The company has a fifty day moving average price of $44.73 and a 200 day moving average price of $39.90. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $399.63 million, a PE ratio of 13.59 and a beta of 0.63.

ACNB (NASDAQ:ACNB - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.04). The firm had revenue of $34.07 million for the quarter, compared to the consensus estimate of $27.51 million. ACNB had a return on equity of 10.18% and a net margin of 23.43%. As a group, analysts expect that ACNB Co. will post 3.56 EPS for the current fiscal year.

ACNB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Friday, November 29th. ACNB's payout ratio is currently 37.21%.

ACNB 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.