Fintel reports that BlackRock has filed a 13G form with the SEC disclosing ownership of 0.45MM shares of ACNB Corporation (ACNB). This represents 5.3% of the company.
In their previous filing dated July 12, 2021 they reported 0.08MM shares and 0.90% of the company, an increase in shares of 448.79% and an increase in total ownership of 4.40% (calculated as current - previous percent ownership).
Fund Sentiment
There are 176 funds or institutions reporting positions in ACNB. This is an increase of 2 owner(s) or 1.15%.
Average portfolio weight of all funds dedicated to US:ACNB is 0.0226%, an increase of 15.7008%. Total shares owned by institutions decreased in the last three months by 0.52% to 2,750K shares.
What are large shareholders doing?
FLPSX - Fidelity Low-Priced Stock Fund holds 352,615 shares representing 4.14% ownership of the company. In it's prior filing, the firm reported owning 430,258 shares, representing a decrease of 22.02%. The firm decreased its portfolio allocation in ACNB by 4.80% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 236,741 shares representing 2.78% ownership of the company. No change in the last quarter.
IWM - iShares Russell 2000 ETF holds 179,040 shares representing 2.10% ownership of the company. In it's prior filing, the firm reported owning 188,681 shares, representing a decrease of 5.38%. The firm increased its portfolio allocation in ACNB by 3.98% over the last quarter.
Geode Capital Management holds 148,378 shares representing 1.74% ownership of the company. In it's prior filing, the firm reported owning 148,206 shares, representing an increase of 0.12%. The firm increased its portfolio allocation in ACNB by 4.89% over the last quarter.
VEXMX - Vanguard Extended Market Index Fund Investor Shares holds 121,038 shares representing 1.42% ownership of the company. No change in the last quarter.
ACNB Declares $0.28 Dividend
ACNB said on January 30, 2023 that its board of directors declared a regular quarterly dividend of $0.28 per share ($1.12 annualized). Shareholders of record as of February 28, 2023 will receive the payment on March 15, 2023. Previously, the company paid $0.26 per share.
At the current share price of $40.00 / share, the stock's dividend yield is 2.80%. Looking back five years and taking a sample every week, the average dividend yield has been 3.22%, the lowest has been 2.34%, and the highest has been 4.88%. The standard deviation of yields is 0.60 (n=237).
The current dividend yield is 0.70 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.27. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.12%, demonstrating that it has increased its dividend over time.
ACNB Background Information
(This description is provided by the company.)
ACNB Corporation, headquartered in Gettysburg, PA, is the $2.6 billion financial holding company for the wholly-owned subsidiaries of ACNB Bank, Gettysburg, PA, and Russell Insurance Group, Inc., Westminster, MD. Originally founded in 1857, ACNB Bank serves its marketplace with banking and wealth management services, including trust and retail brokerage, via a network of 21 community banking offices, located in the four southcentral Pennsylvania counties of Adams, Cumberland, Franklin and York, as well as loan offices in Lancaster and York, PA, and Hunt Valley, MD. As divisions of ACNB Bank operating in Maryland, FCB Bank and NWSB Bank serve the local marketplace with a network of five and seven community banking offices located in Frederick County and Carroll County, MD, respectively. Russell Insurance Group, Inc., the Corporation's insurance subsidiary, is a full-service agency with licenses in 44 states. The agency offers a broad range of property, casualty, health, life and disability insurance serving personal and commercial clients through office locations in Westminster, Germantown and Jarrettsville, MD, and Gettysburg, PA.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
