ACNB Co. (NASDAQ:ACNB) Short Interest Up 28.5% in March

ACNB Co. (NASDAQ:ACNB) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 89,700 shares, a growth of 28.5% from the March 15th total of 69,800 shares. Currently, 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 38,100 shares, the short-interest ratio is presently 2.4 days.

Institutional Trading of ACNB

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC increased its position in ACNB by 286.7% during the third quarter. Barclays PLC now owns 10,807 shares of the bank’s stock valued at $472,000 after acquiring an additional 8,012 shares during the last quarter. State Street Corp grew its holdings in ACNB by 3.5% during the 3rd quarter. State Street Corp now owns 142,024 shares of the bank’s stock valued at $6,202,000 after purchasing an additional 4,851 shares during the last quarter. American Century Companies Inc. raised its position in ACNB by 9.1% in the 4th quarter. American Century Companies Inc. now owns 101,437 shares of the bank’s stock worth $4,040,000 after purchasing an additional 8,486 shares during the period. Franklin Resources Inc. bought a new stake in ACNB in the third quarter worth about $221,000. Finally, Geode Capital Management LLC boosted its position in shares of ACNB by 1.1% during the third quarter. Geode Capital Management LLC now owns 191,437 shares of the bank’s stock valued at $8,361,000 after buying an additional 2,026 shares during the period. Hedge funds and other institutional investors own 32.35% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Raymond James initiated coverage on shares of ACNB in a report on Friday, March 21st. They issued an “outperform” rating and a $47.00 target price for the company. Piper Sandler upgraded ACNB from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $37.00 to $50.00 in a research note on Monday, March 3rd. Finally, UBS Group set a $47.00 price objective on ACNB in a research note on Friday, March 21st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, ACNB currently has a consensus rating of “Moderate Buy” and an average price target of $48.40.

ACNB Trading Up 0.7 %

Shares of ACNB opened at $40.63 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.94 and a quick ratio of 0.94. The company has a 50 day simple moving average of $40.69 and a two-hundred day simple moving average of $42.10. ACNB has a 1 year low of $30.24 and a 1 year high of $50.72. The firm has a market cap of $428.36 million, a P/E ratio of 10.89 and a beta of 0.69.

ACNB (NASDAQ:ACNB) last posted its earnings results on Thursday, January 23rd. The bank reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.06). ACNB had a net margin of 24.09% and a return on equity of 10.91%. On average, equities analysts expect that ACNB will post 3.22 earnings per share for the current fiscal year.

ACNB Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Friday, February 28th. ACNB’s payout ratio is 34.32%.

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.