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GETTYSBURG, Pa. - ACNB Corporation (NASDAQ:ACNB), the parent company of ACNB Bank and ACNB Insurance Services, Inc., has announced an increase in its regular quarterly cash dividend. The dividend of $0.32 per share represents a 6.7% hike from the $0.30 per share paid in the first quarter of the previous year. This dividend is payable on March 14, 2025, to shareholders of record as of February 28, 2025. According to InvestingPro data, ACNB has maintained dividend payments for 36 consecutive years and has raised its dividend for 7 consecutive years straight, demonstrating a strong commitment to shareholder returns.
The increase in the dividend is anticipated to result in total payments of roughly $3.38 million to shareholders for the first quarter of 2025. This marks a significant rise of about 24% over the previous quarter’s dividend payments. The increase is attributed to the expected issuance of additional shares to former Traditions Bancorp, Inc. shareholders, following the closure of its acquisition on February 1, 2025. With a current market capitalization of $360 million and a P/E ratio of 11, InvestingPro analysis suggests the stock is trading slightly above its Fair Value. The current dividend yield stands at 3.18%, making it an interesting option for income-focused investors.
ACNB Corporation, with headquarters in Gettysburg, PA, operates as an independent financial holding company with assets worth $2.4 billion. Through its wholly-owned subsidiaries, ACNB Bank and ACNB Insurance Services, Inc., the company provides a range of banking and wealth management services. ACNB Bank, established in 1857, serves customers with its network of 27 community banking offices and two loan offices across various counties in Pennsylvania and Maryland. ACNB Insurance Services, Inc., a full-service insurance agency, operates in 46 states offering property, casualty, health, life, and disability insurance. Recent financial data shows the company achieved revenue growth of 4.89% in the last twelve months, though InvestingPro analysis indicates net income may face some pressure this year.
This press release includes forward-looking statements, which are based on current management expectations and are subject to risks and uncertainties that could cause actual results to differ materially. These statements should not be relied upon as representing the company’s views as of any date subsequent to the date of this press release.
The company cautions readers to consider the risk factors that could affect financial performance. These include economic conditions, legislative and regulatory changes, the effects of competition, and technological changes among others. The full list of potential risks and uncertainties is detailed in the company’s filings with the SEC.
This news article is based on a press release statement from ACNB Corporation.
In other recent news, ACNB Corporation has provided additional details about its planned merger with Traditions Bancorp, Inc., in response to shareholder demands for greater transparency. The merger, first announced in July 2024, will see Traditions merge into ACNB’s wholly-owned subsidiary, with the subsidiary surviving the merger. The merger is expected to close in the first quarter of 2025, pending shareholder and regulatory approvals.
ACNB Corporation also recently declared a Q4 cash dividend of $0.32 per share, marking a 6.7% increase from the previous year. The company’s earnings per share for Q1 2024 were reported at $0.80. Analyst firm Piper Sandler has maintained a neutral rating on ACNB, albeit with a reduced price target.
These recent developments follow ACNB’s expansion of its Board of Directors to 11 members with the recent election of Alexandra Chiaruttini. The additional merger details and financial updates highlight ACNB’s ongoing efforts to provide transparency to its shareholders and maintain its financial momentum.
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