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ACNB Corporation (ACNB)

NasdaqCM - NasdaqCM Real-time price. Currency in USD
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27.18+0.30 (+1.12%)
At close: 4:00PM EST
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  • B
    Brer
    Public filing on SEC Form S-3, for up to $100 million capital raise? Now this one takes me by surprise. Any thoughts/insights?
  • x
    xbanker2010
    It’s become an everyday occurrence to read about another community bank issuing sub-debt, so this is my last reference. Rates are low today, bank stocks are selling below book. These uniquely favorable conditions are the opportunities for community banks to easily increase EPS and shareholder value, i.e., borrowing to do buybacks. Again, ACNB can deploy $100 million in many ways, each option should be with the intent of increasing long-term shareholder value. https://www.globenewswire.com/news-release/2020/11/09/2122476/0/en/Southside-Bancshares-Inc-Announces-Completion-of-Private-Placement-of-100-0-Million-of-3-875-Fixed-to-Floating-Rate-Subordinated-Notes.html
    TYLER, Texas, Nov. 09, 2020 (GLOBE NEWSWIRE) -- Southside Bancshares, Inc. (the “Company”) (NASDAQ:SBSI), the parent company of Southside Bank, announced...
    TYLER, Texas, Nov. 09, 2020 (GLOBE NEWSWIRE) -- Southside Bancshares, Inc. (the “Company”) (NASDAQ:SBSI), the parent company of Southside Bank, announced...
    www.globenewswire.com
  • x
    xbanker2010
    Regarding Form S-filing, perhaps ACNB mgt read the attached article on sub-debt used to buy common. The size of the filing seems to enable them to pursue various options with timing being open ended. Regarding additional acquisitions, they need to ‘consolidate’ their recent acquisition and get their stock price up over book. https://www.bankdirector.com/issues/strategy/why-two-community-banks-raised-debt-to-repurchase-shares/
    These banks decided to take advantage of market conditions created by the pandemic to repurchase their discounted shares.
    These banks decided to take advantage of market conditions created by the pandemic to repurchase their discounted shares.
    www.bankdirector.com
  • x
    xbanker2010
    https://sec.report/Document/0001104659-20-120035/

    Regarding SEC Form S-3, looks like a ‘catch all’ to give them flexibility to ‘manage capital’, which is prudent given the uncertainties of the COVID economy. Issuing common stock when the current price is below book would be dilutive. I expect some community banks are looking at sub-debt to support their balance sheet (asset quality and growth) and possibly do common stock buybacks, make an acquisition, increase institutional ownership, support asset growth, pursue strategic initiatives, make regulators happy, etc. I think this filing allows issuance of stock or debt. Generally speaking, I think most community banks are thinking post COVID.

    As someone else noted below, the stock is a bit boring and it would be nice to see more trading volume. It would also be nice to see more insider purchases, especially as a reflection of confidence. They announced earning and unless there’s another reason, insiders should be out of the blackout period.
  • x
    xbanker2010
    Some positive news hopefully reflecting industry experience. During economic downturns, banks tend to over-reserve, maintain more than adequate capital ratios, and control expenses. For banks that are ultra conservative in stress testing their loan portfolios and are in pre-Covid healthy economic markets, we’ll hopefully see some insider buying and stock buybacks, while stocks are selling at a wide discount to book. Of course, it helps if a bank has had a recent good S&S exam result. Looking forward to 2021 when hopefully things will look a lot better for the industry.

    https://finance.yahoo.com/news/acnb-corporation-announces-updated-loan-213400424.html
    GETTYSBURG, Pa., Sept. 24, 2020 (GLOBE NEWSWIRE) -- ACNB Corporation (NASDAQ: ACNB) announced that its wholly-owned banking subsidiary, ACNB Bank, has experienced a substantial decrease in the number and amount of loans subject to temporary modificat
    GETTYSBURG, Pa., Sept. 24, 2020 (GLOBE NEWSWIRE) -- ACNB Corporation (NASDAQ: ACNB) announced that its wholly-owned banking subsidiary, ACNB Bank, has experienced a substantial decrease in the number and amount of loans subject to temporary modificat
    finance.yahoo.com
  • B
    Brer
    Seems like the stock price could be better, based on expected final Earnings for 2019.
  • B
    Brer
    First Q’20 finance report on 10-Q will be first indication of impact with Frederick County...and may provide some indication of direction and severity of virus on loan volume and overall asset quality. Other community banks have already reported, and the clear trend is to fortify the allowance for expected loan losses. Two important indicators for rest of 2020 will be top line revenue, and fortification of the loan loss allowance. Let’s see what they say.
  • B
    Brer
    Stock price down over $5 in last 30 days...why? Based on 2919 earnings release this morning, should be potential for upward movement.
  • B
    Brer
    Nearly August and still no 2Q reporting from ACNB on Earnings and Condition. For a company approaching $2.5 billion in assets, an SEC registrant, and publicly traded on NASDAQ...very inefficient in getting current information out to the market. Way behind peers in its public reporting...
  • L
    LEWIS
    Big jump today= Any news?
  • x
    xbanker2010
    A lot of volume and holding a decent price. Frederick is a good growth market.
  • B
    Brer
    PPP loan processing fees, and 24 month advances to loan volume from PPP originations, very likely to mask underlying loan/asset quality issues, and have impact to EPS. About time for 2Q reporting, right?
  • B
    Brer
    Asset quality for many community banks will be at risk. Especially in such “normal” industries as tourism, agriculture, and manufacturing. Caution is now an important factor.
  • B
    Brer
    Rather abrupt resignation of Board Chairman...perhaps some dissension in this Boardroom? Let’s see how the merger of Frederick County impacts ACNB in future quarters.
  • J
    Jowels
    Look for Dutch auction or other share buyback
  • n
    nikola50packs
    xnet nvta Lmnd bynd kndi nkla igt spce