Overview
ACNB Q3 net income rose to $14.9 mln, beating analyst expectations
Adjusted EPS for Q3 was $1.42, surpassing consensus estimates
Company increased quarterly cash dividend by 11.8% over prior quarter
Outlook
ACNB did not provide specific financial guidance for future quarters in its press release
Result Drivers
ACQUISITION IMPACT - The acquisition of Traditions Bancorp contributed to increased average loan balances and profitability
NET INTEREST MARGIN - Increase in net interest margin driven by lower cost of interest-bearing deposits and higher loan yields
EXPENSE MANAGEMENT - Reduction in noninterest expenses due to lower merger-related costs and decreased salaries and benefits
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 EPS | Beat | $1.42 | $1.18 (4 Analysts) |
Q3 Net Income | Beat | $14.87 mln | $12.50 mln (4 Analysts) |
Q3 Net Interest Income | $32.13 mln | ||
Q3 Pretax Profit | Beat | $18.91 mln | $15.70 mln (4 Analysts) |
Q3 CET1 Capital Ratio | 14.45% | ||
Q3 Net Interest Margin | 4.27% |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "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 $48.50, about 10.2% above its October 21 closing price of $43.57
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 10 three months ago
Press Release: ID:nGNXc2gBfW
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)