Acnb Corp CEO Buys $3,185 Worth of Stock By Investing.com
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ACNB Corp (NASDAQ:ACNB) President and CEO James Helt recently purchased shares of the company’s stock, according to a new SEC filing. On March 15, 2024, Helt acquired 90.3044 shares for $35.28 per share, for a total of $3,185. The transaction was executed with a deemed execution date of March 18, 2024.
In addition to the purchase, the filing also disclosed that Helt received 8511.9048 shares as part of restricted stock awards. The shares, valued at the same price of $35.28 each, are part of the ACNB Bank Variable Compensation Plan and variable equity compensation under the ACNB Corporation 2018 Omnibus Stock Incentive Plan. One-third of this award has already been fully secured and the remaining portion will be secured over the next few years.
Additionally, Helt disposed of 808.3472 shares at $35.28 per share to cover tax liabilities related to the vested portion of stock compensation. The total value of this transaction was $28,518, which is common practice for resolving tax liabilities associated with stock-based compensation.
Pursuant to these transactions, Helt’s direct ownership of ACNB Corp was adjusted to reflect the new share capitalization. Purchases and equity compensation are part of the routine financial disclosures required by corporate executives and provide insight into actions taken by company insiders.
Investors frequently monitor such transactions as they may indicate management’s confidence in the company’s future performance. ACNB Corp’s stock activity by its CEO is of interest to shareholders and potential investors, reflecting the ongoing financial decisions at the management level.
InvestingPro Insights
When considering recent insider transactions in ACNB Corp (NASDAQ:ACNB), investors can look for additional context in the company’s financial metrics and market performance. The President and CEO’s stock purchase coincides with a period in which ACNB has demonstrated its commitment to shareholder returns, including six consecutive years of dividend increases and 36 consecutive years of maintenance. This can be seen as a sign of the company’s stable financial health and a positive sign for investors seeking consistent profits.
ACNB’s current market capitalization is $302.02 million, and its price-to-earnings (P/E) ratio is 9.55, which reflects a valuation that can be considered reasonable in today’s market. As of the fourth quarter of 2023, its adjusted P/E ratio for the last 12 months is slightly higher at 9.61. Moreover, the company’s dividend yield as of 80 days in 2024 is a healthy 3.42%, which makes it attractive to dividend-seeking investors, especially when paired with a dividend growth rate of 7.14% over the past 12 months.
Although the company’s revenue growth has been modest at 0.65% over the last 12 months, as of Q4 2023, ACNB has seen a significant quarterly earnings decline of -24.92% in Q4 2023, which may be of interest to investors. Nevertheless, the operating profit margin is still maintained at a solid level of 40.28%, suggesting efficient business operations.
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