ACNB did not provide specific financial guidance for the current or future periods
Overview
US financial holding company's Q2 net income and EPS beat analyst expectations
Net interest income rose from the prior quarter, driven by loan growth and higher yields
Company repurchased 179,407 shares and raised regular dividend; paid special dividend in Q2
Result Drivers
Loan growth and higher yields - Co said Q2 net interest income and margin increased, driven by loan growth and new loans and investment securities funded at higher rates than those that paid off or matured, as well as continued benefit of lower funding costs
Promotional incentives - Growth in noninterest-bearing deposits was driven by promotional incentives on commercial checking accounts
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for ACNB Corp is $57.00, about 5.8% below its July 22 closing price of $60.53
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 9 three months ago
ACNB•
