ACNB Corporation declared a quarterly cash dividend of $0.32 per share, a 6.7% increase from 2024.
Quiver AI Summary
ACNB Corporation, based in Gettysburg, PA, announced a regular quarterly cash dividend of $0.32 per share for its common stock, reflecting a 6.7% increase from the previous quarter. This dividend, which is expected to total approximately $3.38 million, will be payable on March 14, 2025, to shareholders of record as of February 28, 2025. The increase in dividend payments is attributed to the anticipated acquisition of Traditions Bancorp, Inc., expected to close on February 1, 2025, which will add shares to the corporation. ACNB Corporation serves as a financial holding company for ACNB Bank and ACNB Insurance Services, offering various banking and insurance services across multiple states.
Potential Positives
- ACNB Corporation declared a regular quarterly cash dividend of $0.32 per share, reflecting a 6.7% increase from the previous quarter, which demonstrates strong financial performance and shareholder value.
- The anticipated aggregate dividend payments will be approximately $3.38 million, representing an increase of about 24% over the prior quarter, indicating robust growth and successful business strategies.
- The press release highlights the upcoming acquisition of Traditions Bancorp, Inc., suggesting future expansion and increased shareholder value following the completion of the acquisition.
Potential Negatives
- The increase in the quarterly dividend, while positive, may raise concerns about the sustainability of future dividend payments amidst potential economic challenges and rising costs due to inflation.
- The reliance on an acquisition to boost aggregate dividend payments could be seen as a risk, especially if the integration of the acquired company does not go smoothly or if market conditions change adversely.
- The extensive list of risk factors listed in the forward-looking statements highlights significant uncertainties that could adversely affect the corporation's performance and shareholder value.
FAQ
What is the new dividend amount for ACNB Corporation shareholders?
The Board of Directors declared a quarterly cash dividend of $0.32 per share, a 6.7% increase from last year.
When will the dividend be paid to shareholders?
The dividend is payable on March 14, 2025, to shareholders of record as of February 28, 2025.
What are the aggregate dividend payments expected for Q1 2025?
The aggregate dividend payments are expected to be approximately $3.38 million, a 24% increase over the previous quarter.
What are the key services offered by ACNB Bank?
ACNB Bank provides banking and wealth management services, including trust and retail brokerage, through its network of 27 offices.
How does the acquisition of Traditions Bancorp impact ACNB Corporation?
The acquisition is expected to increase the dividend due to the additional shares from former Traditions Bancorp shareholders.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$ACNB Insider Trading Activity
$ACNB insiders have traded $ACNB stock on the open market 6 times in the past 6 months. Of those trades, 4 have been purchases and 2 have been sales.
Here’s a breakdown of recent trading of $ACNB stock by insiders over the last 6 months:
- BRETT D FULK sold 2,897 shares for an estimated $113,177
- DANIEL W POTTS sold 500 shares for an estimated $20,174
- JAMES HELT (President & CEO) has made 2 purchases buying 114 shares for an estimated $4,999 and 0 sales.
- FRANK III ELSNER has made 2 purchases buying 11 shares for an estimated $499 and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$ACNB Hedge Fund Activity
We have seen 41 institutional investors add shares of $ACNB stock to their portfolio, and 19 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BLACKROCK, INC. added 29,227 shares (+5.9%) to their portfolio in Q3 2024, for an estimated $1,276,343
- OSAIC HOLDINGS, INC. removed 27,194 shares (-99.6%) from their portfolio in Q3 2024, for an estimated $1,187,561
- KESTRA ADVISORY SERVICES, LLC added 26,502 shares (+inf%) to their portfolio in Q3 2024, for an estimated $1,157,342
- FMR LLC added 21,358 shares (+3.9%) to their portfolio in Q3 2024, for an estimated $932,703
- ASSENAGON ASSET MANAGEMENT S.A. removed 19,102 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $760,832
- VANGUARD GROUP INC added 15,321 shares (+3.5%) to their portfolio in Q3 2024, for an estimated $669,068
- MORGAN STANLEY added 15,097 shares (+65.2%) to their portfolio in Q3 2024, for an estimated $659,285
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
GETTYSBURG, Pa., Jan. 29, 2025 (GLOBE NEWSWIRE) -- ACNB Corporation (NASDAQ: ACNB), financial holding company for ACNB Bank and ACNB Insurance Services, Inc., announced today that the Board of Directors approved and declared a regular quarterly cash dividend of $0.32 per share of ACNB Corporation common stock payable on March 14, 2025, to shareholders of record as of February 28, 2025. This per share amount reflects a 6.7% increase over the $0.30 per share paid in the first quarter of 2024. This dividend declaration is expected to result in aggregate dividend payments of approximately $3.38 million to ACNB Corporation shareholders in the first quarter of 2025, an increase of approximately 24% over the prior quarter, due to the additional shares expected to be issued to former Traditions Bancorp, Inc. shareholders upon the anticipated close of the acquisition on February 1, 2025.
ACNB Corporation, headquartered in Gettysburg, PA, is the independent $2.4 billion financial holding company for the wholly-owned subsidiaries of ACNB Bank, Gettysburg, PA, and ACNB Insurance Services, 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 27 community banking offices and two loan offices located in the Pennsylvania counties of Adams, Cumberland, Franklin, Lancaster and York and the Maryland counties of Baltimore, Carroll and Frederick. ACNB Insurance Services, Inc. is a full-service insurance agency with licenses in 46 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 and Jarrettsville, MD, and Gettysburg, PA. For more information regarding ACNB Corporation and its subsidiaries, please visit investor.acnb.com.
FORWARD-LOOKING STATEMENTS - In addition to historical information, this press release may contain forward-looking statements. Examples of forward-looking statements include, but are not limited to, (a) projections or statements regarding future earnings, expenses, net interest income, other income, earnings or loss per share, asset mix and quality, growth prospects, capital structure, and other financial terms, (b) statements of plans and objectives of Management or the Board of Directors, and (c) statements of assumptions, such as economic conditions in the Corporation’s market areas. Such forward-looking statements can be identified by the use of forward-looking terminology such as “believes”, “expects”, “may”, “intends”, “will”, “should”, “anticipates”, or the negative of any of the foregoing or other variations thereon or comparable terminology, or by discussion of strategy. Forward-looking statements are subject to certain risks and uncertainties such as national, regional and local economic conditions, competitive factors, and regulatory limitations. Actual results may differ materially from those projected in the forward-looking statements. Such risks, uncertainties, and other factors that could cause actual results and experience to differ from those projected include, but are not limited to, the following: short-term and long-term effects of inflation and rising costs on the Corporation, customers and economy; effects of governmental and fiscal policies, as well as legislative and regulatory changes; effects of new laws and regulations (including laws and regulations concerning taxes, banking, securities and insurance) and their application with which the Corporation and its subsidiaries must comply; impacts of the capital and liquidity requirements of the Basel III standards; effects of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Financial Accounting Standards Board and other accounting standard setters; ineffectiveness of the business strategy due to changes in current or future market conditions; future actions or inactions of the United States government, including the effects of short-term and long-term federal budget and tax negotiations and a failure to increase the government debt limit or a prolonged shutdown of the federal government; effects of economic conditions particularly with regard to the negative impact of any pandemic, epidemic or health-related crisis and the responses thereto on the operations of the Corporation and current customers, specifically the effect of the economy on loan customers’ ability to repay loans; effects of competition, and of changes in laws and regulations on competition, including industry consolidation and development of competing financial products and services; inflation, securities market and monetary fluctuations; risks of changes in interest rates on the level and composition of deposits, loan demand, and the values of loan collateral, securities, and interest rate protection agreements, as well as interest rate risks; difficulties in acquisitions and integrating and operating acquired business operations, including information technology difficulties; challenges in establishing and maintaining operations in new markets; effects of technology changes; effects of general economic conditions and more specifically in the Corporation’s market areas; failure of assumptions underlying the establishment of reserves for loan losses and estimations of values of collateral and various financial assets and liabilities; acts of war or terrorism or geopolitical instability; disruption of credit and equity markets; ability to manage current levels of impaired assets; loss of certain key officers; ability to maintain the value and image of the Corporation’s brand and protect the Corporation’s intellectual property rights; continued relationships with major customers; and, potential impacts to the Corporation from continually evolving cybersecurity and other technological risks and attacks, including additional costs, reputational damage, regulatory penalties, and financial losses. We caution readers not to place undue reliance on these forward-looking statements. They only reflect Management’s analysis as of this date. The Corporation does not revise or update these forward-looking statements to reflect events or changed circumstances. Please carefully review the risk factors described in other documents the Corporation files from time to time with the SEC, including the Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Please also carefully review any Current Reports on Form 8-K filed by the Corporation with the SEC.
ACNB #2025-3
Contact: |
Kevin J. Hayes
SVP/General Counsel, Secretary & Chief Governance Officer 717.339.5161 [email protected] |