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

ACNB Co. (NASDAQ:ACNB) was the recipient of a large decrease in short interest in the month of 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 short-interest ratio is currently 4.4 days. Currently, 0.8% of the company’s stock are sold short.

Institutional Trading of ACNB

A number of hedge funds have recently made changes to their positions in the stock. FMR LLC lifted its position in ACNB by 2.0% in the 3rd quarter. FMR LLC now owns 490,483 shares of the bank’s stock valued at $15,504,000 after acquiring an additional 9,497 shares in the last quarter. Haverford Trust Co bought a new position in ACNB in the 4th quarter valued at approximately $1,521,000. Bank of New York Mellon Corp lifted its position in ACNB by 1.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 30,627 shares of the bank’s stock valued at $968,000 after acquiring an additional 326 shares in the last quarter. LSV Asset Management lifted its position in ACNB by 2.6% in the 3rd quarter. LSV Asset Management now owns 27,598 shares of the bank’s stock valued at $872,000 after acquiring an additional 709 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in ACNB in the 4th quarter valued at approximately $583,000. 32.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded ACNB from a “sell” rating to a “hold” rating in a report on Tuesday.

ACNB Stock Performance

Shares of ACNB opened at $32.54 on Wednesday. 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’s 50 day moving average price is $34.83 and its 200-day moving average price is $38.10. ACNB has a 52 week low of $27.00 and a 52 week high of $48.55. The stock has a market cap of $276.92 million, a P/E ratio of 9.40 and a beta of 0.60.

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

ACNB Increases Dividend

The business also recently declared 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 is a boost from ACNB’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Friday, May 31st. ACNB’s payout ratio is currently 34.68%.

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.