Short Interest in ACNB Co. (NASDAQ:ACNB) Decreases 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 daily volume of 14,400 shares, the short-interest ratio is currently 4.4 days. Approximately 0.8% of the company’s stock are short sold.

Institutional Investors Weigh In On ACNB

A number of hedge funds have recently bought and sold shares of ACNB. Allworth Financial LP bought a new stake in ACNB during the fourth quarter valued at about $31,000. Allspring Global Investments Holdings LLC lifted its stake in shares of ACNB by 2,578.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,732 shares of the bank’s stock valued at $86,000 after buying an additional 2,630 shares during the period. SG Americas Securities LLC bought a new stake in shares of ACNB in the third quarter valued at about $120,000. Savant Capital LLC bought a new position in ACNB during the fourth quarter worth about $264,000. Finally, RKL Wealth Management LLC bought a new position in ACNB during the fourth quarter worth about $434,000. 32.35% of the stock is currently owned by institutional investors.

ACNB Price Performance

ACNB opened at $32.25 on Tuesday. The stock has a fifty day moving average of $34.83 and a 200-day moving average of $38.10. The firm has a market capitalization of $274.29 million, a P/E ratio of 9.32 and a beta of 0.60. ACNB has a 12-month low of $27.00 and a 12-month high of $48.55. 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 (NASDAQ:ACNB) last posted its quarterly earnings results on Thursday, April 25th. The bank reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. ACNB had a net margin of 24.98% and a return on equity of 11.18%. The business had revenue of $31.64 million for the quarter, compared to the consensus estimate of $26.28 million. Equities analysts forecast that ACNB will post 3.4 EPS for the current fiscal year.

ACNB Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.97%. This is a boost from ACNB’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, May 31st. ACNB’s dividend payout ratio is 36.99%.

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.