ACNB Corporation’s Executive Vice President, Brett Fulk, sold 1,486 shares of the company’s stock on January 26, 2024. The shares were sold at an average price of $48.52, bringing the total transaction value to approximately $72,100.72. Following this sale, Fulk now holds 1,048 shares valued at around $50,848.96, marking a significant reduction of 58.64% in his overall stake.
This transaction was reported in a legal filing with the Securities and Exchange Commission (SEC), making the details publicly accessible.
Current Stock Performance and Market Context
On the following trading day, January 27, 2024, shares of ACNB (NASDAQ:ACNB) increased by $0.40, reaching $48.76. During this session, 32,386 shares changed hands, surpassing the stock’s average daily volume of 27,370 shares. Currently, ACNB Corporation boasts a market capitalization of approximately $506.37 million, with a price-to-earnings ratio of 13.77 and a beta of 0.87. The stock has fluctuated between a fifty-two week low of $35.70 and a high of $53.41.
The company’s performance metrics include a debt-to-equity ratio of 0.62, a quick ratio of 0.95, and a current ratio of 0.96. ACNB’s most recent quarterly earnings report, released on January 22, 2024, indicated earnings per share (EPS) of $1.35, exceeding analysts’ expectations of $1.26 by $0.09. The reported revenue for the quarter was $40.74 million, which also surpassed the consensus estimate of $39.69 million.
Institutional Investor Activity
Recent activity among institutional investors highlights a dynamic interest in ACNB. Allworth Financial LP increased its holdings by 42.9% in the second quarter, acquiring an additional 300 shares to reach a total of 1,000 shares valued at $43,000. Similarly, BNP Paribas Financial Markets boosted its stake by 56.5%, now owning 1,036 shares worth $44,000 after purchasing an additional 374 shares.
Other notable actions include Russell Investments Group Ltd. acquiring a new stake valued at approximately $45,000 and Tripletail Wealth Management LLC, which purchased shares worth about $46,000. Furthermore, Tower Research Capital LLC significantly increased its position by 98.3%, owning 1,727 shares valued at $74,000 after acquiring an additional 856 shares.
Currently, institutional investors and hedge funds collectively hold 32.35% of ACNB Corporation’s stock.
ACNB Corporation remains a community-focused banking institution based in Gettysburg, Pennsylvania. Established from a local banking organization in the 19th century, it serves individuals, families, and businesses throughout south-central Pennsylvania, offering a comprehensive range of retail and commercial banking products. As a publicly traded entity, ACNB operates under the ticker symbol ACNB on the NASDAQ exchange, maintaining a strong emphasis on personal service and local decision-making.
