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Acnb Corp. (ACNB)
NASDAQ:ACNB
US Market

ACNB (ACNB) AI Stock Analysis

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ACNB

ACNB

(NASDAQ:ACNB)

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Neutral 62 (OpenAI - 5.2)
Rating:62Neutral
Price Target:
$49.00
▲(5.42% Upside)
Action:ReiteratedDate:03/13/26
The score is driven primarily by fundamentally sound financial performance (solid profitability and cash generation, tempered by recent revenue softness and elevated leverage). Technicals are the main drag due to weak momentum and trading below key moving averages, while valuation and recent positive corporate actions (dividend increase and capital-structure optimization) provide support.
Positive Factors
Strong operating cash generation
Consistent positive operating and free cash flow, with a marked step-up in 2025, supports durable internal funding for dividends, loan originations, and subordinated note redemptions. Persistent cash generation reduces reliance on external funding and underpins long-term balance-sheet flexibility.
Proactive capital management and shareholder return
The combination of an 18.7% dividend increase and issuance of Tier 2-qualifying subordinated notes demonstrates deliberate capital planning. Strengthened regulatory capital and a rising payout signal the bank can sustain distributions while optimizing funding mix, supporting long-term credibility with regulators and investors.
Respectable ROE and asset growth
Sustained ROE in the mid-single to low-double digits and steady asset expansion indicate the franchise converts capital into earnings. This durable earnings power provides a foundation for reinvestment in branches and digital channels and supports long-term lending capacity in local markets.
Negative Factors
Elevated leverage versus prior years
The material rise in leverage since 2021 tightens regulatory and funding flexibility and increases sensitivity to interest costs and credit shocks. Even with some improvement in 2025, the higher debt-to-equity profile raises structural funding and capital risk for sustained balance-sheet growth.
Recent revenue decline and margin pressure
A rollover to declining revenue and compressed margins after prior peak years weakens the bank's ability to expand reserves and maintain payout ratios. If the trend persists, it can pressure long-term earnings power and constrain reinvestment or balance-sheet expansion.
Data/visibility gap in 2025 cash-flow reporting
A reporting gap reduces confidence in translating 2025 reported profits into reliable cash-flow forecasts. Lower visibility complicates capital planning and makes it harder to assess sustainable free cash flow for dividends, subordinated note servicing, and loan growth over the coming quarters.

ACNB (ACNB) vs. SPDR S&P 500 ETF (SPY)

ACNB Business Overview & Revenue Model

Company DescriptionACNB Corporation, a financial holding company, provides banking, insurance, and financial services to individual, business, and government customers in the United States. The company offers checking, savings, and money market deposit accounts, as well as time deposits and debit cards. It also provides commercial lending products, such as commercial mortgages, real estate development and construction loans, accounts receivable and inventory financing, and agricultural and governmental loans; consumer lending products, including home equity loans and lines of credit, automobile and recreational vehicle loans, manufactured housing loans, and personal lines of credit; and mortgage lending programs include personal residential mortgages, and residential construction and investment mortgage loans. In addition, the company provides other services that are related to testamentary trusts, life insurance trusts, charitable remainder trusts, guardianships, powers of attorney, custodial accounts, and investment management and advisory accounts; and retail brokerage services. Further, it acts as a trustee to invest in, protect, manage, and distribute financial assets. Additionally, the company offers property and casualty, health, life, and disability insurance products to commercial and individual clients; and online, telephone, and mobile banking, as well as automated teller machine services. As of December 31, 2021, it operated through a network of 19 community banking offices located in Pennsylvania, including 12 offices in Adams county, five offices in York county, one office in Cumberland County, and one office in Franklin County; five community banking offices located in Frederick County; six community banking offices located in Carroll county, Maryland; and loan offices located in Lancaster and York, Pennsylvania, and Hunt Valley, Maryland. The company was founded in 1857 and is headquartered in Gettysburg, Pennsylvania.
How the Company Makes MoneyACNB primarily makes money through (1) net interest income and (2) noninterest income. Net interest income is earned from the spread between interest and fees collected on loans and other interest-earning assets and the interest paid on deposits and other funding sources. Key drivers include loan volumes and mix (e.g., commercial, real estate, and consumer lending), yields on earning assets, the cost of deposits (including the mix between noninterest-bearing and interest-bearing accounts), and overall interest-rate conditions. Noninterest income is generated from banking-related fees and service charges, which commonly include deposit account service charges, interchange/card-related fees, and other customer service fees; ACNB may also earn income from mortgage banking or other ancillary financial services, but specific line-item contributions are null without company financial statement detail. Additional factors influencing earnings include credit quality (loan loss provisions can reduce earnings), operating efficiency (noninterest expense relative to revenue), and regulatory capital and liquidity requirements that affect balance-sheet growth and funding strategy.

ACNB Financial Statement Overview

Summary
Underlying profitability and cash generation are solid, but the latest period shows revenue decline and some margin softening, while leverage remains higher than earlier years despite some improvement.
Income Statement
72
Positive
Profitability is solid for a regional bank, with consistently healthy net margins (~17%–33%) and strong operating profitability across the period. Revenue growth was positive in most years (notably 2024), but the latest year (2025) shows a revenue decline (-4.18%) and some margin compression versus the exceptionally strong 2022–2023 levels—suggesting the earnings profile is good, but momentum has softened recently.
Balance Sheet
58
Neutral
Returns on equity are respectable (roughly ~7%–15%), indicating the balance sheet is generating earnings, but leverage has increased meaningfully. Debt-to-equity moved from a low ~0.27 (2021–2022) to ~0.90 (2023–2024) before improving to ~0.78 in 2025—still elevated versus earlier years. Total assets expanded over time, but the higher leverage trend is the key balance-sheet risk factor.
Cash Flow
64
Positive
Operating cash flow and free cash flow are consistently positive, with a strong step-up in 2025 and solid free-cash-flow growth that year (~16%). Cash conversion versus net income looked strong in 2020–2024 (free cash flow roughly in line with earnings), but 2025 shows reported cash-flow-to-earnings fields at 0.0, which creates a data-quality/visibility gap for the most recent period despite higher absolute cash generation.
BreakdownDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue170.38M132.19M114.75M108.44M100.94M
Gross Profit125.53M111.10M105.58M104.81M93.97M
EBITDA46.45M43.45M43.21M48.75M38.46M
Net Income37.05M31.85M31.69M35.75M27.83M
Balance Sheet
Total Assets3.23B2.39B2.42B2.53B2.79B
Cash, Cash Equivalents and Short-Term Investments20.61M64.85M517.65M721.72M1.15B
Total Debt329.02M273.92M254.79M66.12M73.17M
Total Liabilities2.81B2.09B2.14B2.28B2.51B
Stockholders Equity419.97M303.27M277.46M245.04M272.11M
Cash Flow
Free Cash Flow52.57M38.82M39.43M37.39M40.55M
Operating Cash Flow53.64M39.78M40.60M39.20M42.13M
Investing Cash Flow64.65M2.43M15.44M-331.72M60.52M
Financing Cash Flow0.00-60.91M-158.24M-249.45M208.13M

ACNB Technical Analysis

Technical Analysis Sentiment
Negative
Last Price46.48
Price Trends
50DMA
49.58
Negative
100DMA
48.56
Negative
200DMA
45.58
Positive
Market Momentum
MACD
-1.00
Positive
RSI
32.91
Neutral
STOCH
15.24
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ACNB, the sentiment is Negative. The current price of 46.48 is below the 20-day moving average (MA) of 49.60, below the 50-day MA of 49.58, and above the 200-day MA of 45.58, indicating a neutral trend. The MACD of -1.00 indicates Positive momentum. The RSI at 32.91 is Neutral, neither overbought nor oversold. The STOCH value of 15.24 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ACNB.

ACNB Risk Analysis

ACNB disclosed 48 risk factors in its most recent earnings report. ACNB reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

ACNB Peers Comparison

Overall Rating
UnderperformOutperform
Sector (68)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
78
Outperform
$375.02M8.9919.46%2.40%-6.72%19.64%
68
Neutral
$18.00B11.429.92%3.81%9.73%1.22%
66
Neutral
$536.30M9.188.49%3.59%6.86%6.11%
63
Neutral
$475.24M10.418.63%13.96%25.74%
62
Neutral
$481.23M13.399.18%2.78%41.95%-4.72%
53
Neutral
$506.90M27.712.67%5.16%-11.91%-235.73%
49
Neutral
$462.49M-15.87-15.74%-6.47%-75.82%
* Financial Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
ACNB
ACNB
46.48
6.33
15.77%
AROW
Arrow Financial
32.48
7.51
30.10%
FFIC
Flushing Financial
14.96
2.68
21.85%
FFWM
First Foundation
5.58
0.65
13.18%
BWB
Bridgewater Bancshares
17.08
3.13
22.44%
BSVN
Bank7
39.67
1.83
4.84%

ACNB Corporate Events

Business Operations and StrategyPrivate Placements and Financing
ACNB Issues Subordinated Notes to Strengthen Capital Structure
Positive
Mar 12, 2026

On March 12, 2026, ACNB Corporation privately placed $15 million of 5.875% fixed-to-floating rate subordinated notes due March 15, 2036, with institutional accredited investors and qualified institutional buyers at par. The unsecured notes, which rank junior to senior indebtedness, are structured to qualify as Tier 2 capital at the holding company level and feature a fixed rate until March 15, 2031, then a SOFR-based floating rate plus 245 basis points.

The net proceeds are earmarked for general corporate purposes, including the potential redemption of outstanding 4.00% fixed-to-floating subordinated notes due March 31, 2031, which could optimize ACNB’s capital structure and funding costs. The notes cannot generally be redeemed before March 15, 2031, and interest will be paid semi-annually during the fixed period and quarterly during the floating period, shaping the company’s long-term capital and liability profile.

The most recent analyst rating on (ACNB) stock is a Hold with a $53.00 price target. To see the full list of analyst forecasts on ACNB stock, see the ACNB Stock Forecast page.

Business Operations and StrategyPrivate Placements and Financing
ACNB Redeems 4% Subordinated Notes to Optimize Capital
Positive
Mar 2, 2026

On February 27, 2026, ACNB Corporation announced it would redeem on March 31, 2026 all of its outstanding 4.00% fixed-to-floating rate subordinated notes due March 31, 2031, totaling $15 million in principal. The notes will be redeemed at 100% of principal plus accrued and unpaid interest, reflecting a proactive step in managing the company’s liabilities and capital structure.

ACNB plans to fund the redemption using excess cash on hand, with the option to issue new fixed-to-floating subordinated notes in an equal principal amount. This approach indicates the company is optimizing its funding mix while maintaining access to subordinated debt markets, which may affect its interest costs and the risk-return profile for noteholders and other stakeholders.

The most recent analyst rating on (ACNB) stock is a Hold with a $53.00 price target. To see the full list of analyst forecasts on ACNB stock, see the ACNB Stock Forecast page.

Business Operations and StrategyExecutive/Board Changes
ACNB Enhances Executive Change-in-Control Protections and Benefits
Neutral
Feb 20, 2026

On February 19, 2026, ACNB Corporation and its subsidiary ACNB Bank amended employment agreements for Chief Financial Officer Jason H. Weber and Chief Strategy Officer Brett D. Fulk to enhance change-in-control protections. The changes increase potential cash severance from 2.0 to 2.99 times agreed compensation, extend continuation of health and welfare benefits for up to two years, and lengthen post-termination non-solicitation restrictions from six months to two years.

Fulk’s agreement was further revised to add a limited gross-up to offset potential excise taxes under federal parachute payment rules and to remove a prior provision that reduced change-in-control payments. The amendments signal a move to more robust executive retention and protection structures around potential change-in-control scenarios, while tightening post-employment restrictions that help ACNB safeguard its customer relationships and strategic interests.

The most recent analyst rating on (ACNB) stock is a Hold with a $53.00 price target. To see the full list of analyst forecasts on ACNB stock, see the ACNB Stock Forecast page.

Dividends
ACNB Increases Quarterly Dividend, Highlighting Stronger Capital Position
Positive
Jan 29, 2026

On January 27, 2026, ACNB Corporation’s board of directors approved and declared a regular quarterly cash dividend of $0.38 per share for the first quarter of 2026, payable on March 13, 2026, to shareholders of record as of February 27, 2026. The dividend, announced publicly on January 29, 2026, represents an 18.7% increase, or $0.06 per share, over the $0.32 dividend paid in the first quarter of the prior year, signaling a strengthened capital position and a continued commitment to returning cash to shareholders, which may enhance the company’s appeal to income-focused investors in the regional financial services sector.

The most recent analyst rating on (ACNB) stock is a Buy with a $57.00 price target. To see the full list of analyst forecasts on ACNB stock, see the ACNB Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Mar 13, 2026