Short Interest in ACNB Co. (NASDAQ:ACNB) Drops By 6.0%

ACNB Co. (NASDAQ:ACNB) saw a significant decrease in short interest in April. As of April 15th, there was short interest totalling 62,900 shares, a decrease of 6.0% from the March 31st total of 66,900 shares. Based on an average trading volume of 14,400 shares, the days-to-cover ratio is presently 4.4 days. Approximately 0.8% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Piper Sandler lowered their price target on ACNB from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday. StockNews.com upgraded ACNB from a “sell” rating to a “hold” rating in a report on Tuesday.

Institutional Trading of ACNB

A number of hedge funds have recently made changes to their positions in the business. FMR LLC lifted its position in shares of ACNB by 2.0% in the third quarter. FMR LLC now owns 490,483 shares of the bank’s stock valued at $15,504,000 after buying an additional 9,497 shares during the last quarter. Haverford Trust Co acquired a new stake in shares of ACNB in the fourth quarter valued at approximately $1,521,000. Bank of New York Mellon Corp lifted its position in shares of ACNB by 1.1% in the third quarter. Bank of New York Mellon Corp now owns 30,627 shares of the bank’s stock valued at $968,000 after buying an additional 326 shares during the last quarter. LSV Asset Management lifted its position in shares of ACNB by 2.6% in the third quarter. LSV Asset Management now owns 27,598 shares of the bank’s stock valued at $872,000 after buying an additional 709 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of ACNB in the fourth quarter valued at approximately $583,000. 32.35% of the stock is owned by institutional investors and hedge funds.

ACNB Stock Up 1.8 %

ACNB stock opened at $33.13 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.70. The business has a 50 day moving average price of $34.75 and a two-hundred day moving average price of $38.10. The company has a market cap of $281.94 million, a price-to-earnings ratio of 9.58 and a beta of 0.60. ACNB has a twelve month low of $27.00 and a twelve month high of $48.55.

ACNB (NASDAQ:ACNB) last posted its quarterly earnings results on Thursday, April 25th. The bank reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. The firm had revenue of $31.64 million during the quarter, compared to the consensus estimate of $26.28 million. ACNB had a return on equity of 11.18% and a net margin of 24.98%. Analysts anticipate that ACNB will post 3.4 EPS for the current fiscal year.

ACNB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.86%. This is a boost from ACNB’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, May 31st. ACNB’s dividend payout ratio (DPR) is presently 34.68%.

ACNB Company Profile

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.