ACNB Co. (NASDAQ:ACNB) Announces Dividend Increase – $0.32 Per Share

ACNB Co. (NASDAQ:ACNB) announced a quarterly dividend on Thursday, April 25th, Wall Street Journal reports. Investors of record on Friday, May 31st will be paid a dividend of 0.32 per share by the bank on Friday, June 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date is Friday, May 31st. This is a boost from ACNB’s previous quarterly dividend of $0.30.

ACNB has increased its dividend by an average of 4.5% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. ACNB has a payout ratio of 34.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ACNB to earn $3.46 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 34.7%.

ACNB Trading Down 2.3 %

Shares of NASDAQ:ACNB traded down $0.78 during midday trading on Thursday, reaching $33.20. 11,043 shares of the company’s stock were exchanged, compared to its average volume of 16,524. The firm’s 50 day simple moving average is $35.21 and its two-hundred day simple moving average is $38.08. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market cap of $282.53 million, a price-to-earnings ratio of 9.13 and a beta of 0.60. ACNB has a fifty-two week low of $27.00 and a fifty-two week high of $48.55.

ACNB (NASDAQ:ACNB) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.48). The business had revenue of $22.46 million for the quarter, compared to analyst estimates of $27.75 million. ACNB had a return on equity of 12.12% and a net margin of 27.53%. As a group, sell-side analysts forecast that ACNB will post 3.4 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded ACNB from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th.

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.