ACNB Co. (NASDAQ:ACNB) Short Interest Update

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. FMR LLC boosted its position in shares of ACNB by 2.0% during the third quarter. FMR LLC now owns 490,483 shares of the bank’s stock worth $15,504,000 after buying an additional 9,497 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of ACNB by 2,578.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,732 shares of the bank’s stock worth $86,000 after buying an additional 2,630 shares during the period. SG Americas Securities LLC purchased a new position in shares of ACNB during the third quarter worth $120,000. Assenagon Asset Management S.A. purchased a new position in shares of ACNB during the fourth quarter worth $583,000. Finally, RKL Wealth Management LLC purchased a new position in shares of ACNB during the fourth quarter worth $434,000. 32.35% of the stock is currently owned by hedge funds and other institutional investors.

ACNB Trading Down 2.2 %

Shares of ACNB stock opened at $32.65 on Friday. The firm has a market capitalization of $277.85 million, a price-to-earnings ratio of 8.78 and a beta of 0.60. ACNB has a fifty-two week low of $27.00 and a fifty-two week high of $48.55. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a 50 day moving average of $35.78 and a 200 day moving average of $38.01.

ACNB (NASDAQ:ACNB) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.48). The business had revenue of $22.46 million during the quarter, compared to analysts’ expectations of $27.75 million. ACNB had a return on equity of 12.12% and a net margin of 27.53%. As a group, research analysts predict that ACNB will post 3.4 earnings per share for the current year.

ACNB Announces Dividend

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

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.