The Manufacturers Life Insurance Company has increased its holdings in ACNB Co. (NASDAQ:ACNB) by 6.9% during the fourth quarter, according to its latest 13F filing with the SEC. The institutional investor now owns 124,228 shares of the bank’s stock, valued at approximately $4,948,000.
Other institutional investors have also adjusted their stakes in ACNB Co. Barclays PLC significantly boosted its position by 286.7% in the third quarter, now owning 10,807 shares worth $472,000. American Century Companies Inc. increased its holdings by 9.1% in the fourth quarter, owning 101,437 shares valued at $4,040,000. SG Americas Securities LLC grew its position by 35.3%, now holding 3,963 shares worth $158,000. JPMorgan Chase & Co. substantially increased its stake by 145.4%, owning 27,362 shares valued at $1,090,000. Rhumbline Advisers slightly raised its position by 2.2%, now owning 12,405 shares worth $494,000.
Institutional investors collectively own 32.35% of ACNB Co.’s stock. The company’s shares opened at $42.91 on Friday, with a market capitalization of $452.40 million. ACNB Co. recently reported earnings per share (EPS) of $1.03 for the quarter, beating the consensus estimate of $0.94. The company has declared a quarterly dividend of $0.34 per share, representing a 3.17% yield on an annualized basis.
Analyst ratings for ACNB Co. vary, with one sell rating and four buy ratings. The stock has an average rating of ‘Moderate Buy’ with a consensus target price of $48.40. Recent analyst actions include Piper Sandler upgrading ACNB from ‘neutral’ to ‘overweight’ with a target price of $50.00, and Raymond James initiating coverage with an ‘outperform’ rating and a $47.00 price target.
