The Manufacturers Life Insurance Company Grows Stock Position in ACNB Co. (NASDAQ:ACNB)

The Manufacturers Life Insurance Company grew its position in shares of ACNB Co. (NASDAQ:ACNB) by 13.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 116,196 shares of the bank’s stock after buying an additional 13,840 shares during the period. The Manufacturers Life Insurance Company owned 1.36% of ACNB worth $5,074,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC boosted its stake in ACNB by 1.7% in the 2nd quarter. Renaissance Technologies LLC now owns 17,856 shares of the bank’s stock worth $648,000 after purchasing an additional 300 shares during the period. RKL Wealth Management LLC boosted its position in shares of ACNB by 3.3% in the third quarter. RKL Wealth Management LLC now owns 10,098 shares of the bank’s stock valued at $441,000 after acquiring an additional 326 shares during the period. Empowered Funds LLC grew its stake in ACNB by 5.4% during the third quarter. Empowered Funds LLC now owns 47,408 shares of the bank’s stock valued at $2,070,000 after acquiring an additional 2,412 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in ACNB by 8.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 30,534 shares of the bank’s stock worth $1,107,000 after acquiring an additional 2,437 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in ACNB in the 3rd quarter worth approximately $128,000. Institutional investors own 32.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ACNB. Janney Montgomery Scott started coverage on ACNB in a research report on Tuesday, November 19th. They set a “buy” rating and a $53.00 target price for the company. StockNews.com upgraded shares of ACNB from a “sell” rating to a “hold” rating in a research report on Friday, November 15th.

ACNB Trading Up 1.0 %

Shares of ACNB opened at $46.74 on Friday. 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 Co. has a fifty-two week low of $30.24 and a fifty-two week high of $50.72. The firm has a 50 day moving average price of $44.73 and a 200-day moving average price of $39.85. The firm has a market cap of $399.63 million, a price-to-earnings ratio of 13.59 and a beta of 0.63.

ACNB (NASDAQ:ACNB) last announced its quarterly earnings data 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 company 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 10.18%. As a group, equities research analysts forecast that ACNB Co. will post 3.56 earnings per share for the current year.

ACNB Dividend Announcement

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

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.