ACNB Co. (NASDAQ:ACNB) Sees Large Drop in Short Interest

ACNB Co. (NASDAQ:ACNB) was the recipient of a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 66,900 shares, a decline of 11.6% from the March 15th total of 75,700 shares. Currently, 0.8% of the shares of the company are short sold. Based on an average daily volume of 16,800 shares, the short-interest ratio is currently 4.0 days.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. FMR LLC grew its holdings in shares of ACNB by 0.6% during the second quarter. FMR LLC now owns 543,813 shares of the bank’s stock worth $16,146,000 after purchasing an additional 3,100 shares during the last quarter. BlackRock Inc. boosted its holdings in ACNB by 4.2% in the second quarter. BlackRock Inc. now owns 466,347 shares of the bank’s stock valued at $15,469,000 after acquiring an additional 18,654 shares during the last quarter. Vanguard Group Inc. boosted its holdings in ACNB by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 420,031 shares of the bank’s stock valued at $18,801,000 after acquiring an additional 11,138 shares during the last quarter. Fourthstone LLC boosted its holdings in ACNB by 13.3% in the first quarter. Fourthstone LLC now owns 261,263 shares of the bank’s stock valued at $9,131,000 after acquiring an additional 30,728 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of ACNB by 3.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 245,478 shares of the bank’s stock worth $10,988,000 after buying an additional 8,421 shares in the last quarter. Institutional investors and hedge funds own 32.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ACNB shares. Hovde Group downgraded shares of ACNB from an “outperform” rating to a “market perform” rating and upped their price target for the company from $40.00 to $47.00 in a research note on Monday, December 18th. Piper Sandler upped their price target on shares of ACNB from $43.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, December 18th. Finally, StockNews.com downgraded shares of ACNB from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th.

ACNB Trading Down 0.1 %

Shares of ACNB stock opened at $32.63 on Tuesday. The firm’s 50-day moving average price is $35.70 and its two-hundred day moving average price is $38.06. The company has a market capitalization of $277.52 million, a price-to-earnings ratio of 8.77 and a beta of 0.60. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.70. ACNB has a 12-month low of $27.00 and a 12-month high of $48.55.

ACNB (NASDAQ:ACNB) last announced its quarterly earnings data on Thursday, January 25th. The bank reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.48). ACNB had a net margin of 27.53% and a return on equity of 12.12%. The firm had revenue of $22.46 million during the quarter, compared to the consensus estimate of $27.75 million. On average, analysts forecast that ACNB will post 3.4 earnings per share for the current fiscal year.

ACNB Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend was Thursday, February 29th. ACNB’s payout ratio is 32.26%.

About ACNB

ACNB Corporation, a financial holding company, offers banking, insurance, and financial services to individual, business, and government customers in the United States. The company provides checking, savings, and money market deposit accounts, as well as time deposits and debit cards. It also offers 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.