Short Interest in ACNB Co. (NASDAQ:ACNB) Decreases By 5.4%

ACNB Co. (NASDAQ:ACNB) was the target of a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 54,500 shares, a decrease of 5.4% from the May 31st total of 57,600 shares. Based on an average daily volume of 11,700 shares, the short-interest ratio is currently 4.7 days. Currently, 0.7% of the company’s shares are short sold.

Institutional Investors Weigh In On ACNB

Large investors have recently modified their holdings of the stock. FMR LLC raised its position in ACNB by 2.0% during the 3rd 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 last quarter. SG Americas Securities LLC raised its holdings in ACNB by 21.0% during the fourth quarter. SG Americas Securities LLC now owns 4,585 shares of the bank’s stock worth $205,000 after purchasing an additional 795 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in ACNB in the fourth quarter valued at about $583,000. Allworth Financial LP purchased a new stake in ACNB in the 4th quarter valued at approximately $31,000. Finally, RKL Wealth Management LLC acquired a new position in ACNB during the 4th quarter worth approximately $434,000. Hedge funds and other institutional investors own 32.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ACNB shares. StockNews.com lowered shares of ACNB from a “hold” rating to a “sell” rating in a research note on Tuesday, June 11th. Piper Sandler cut their price target on ACNB from $40.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st.

ACNB Price Performance

ACNB stock opened at $34.90 on Thursday. The business has a 50 day moving average price of $32.60 and a 200 day moving average price of $36.61. ACNB has a fifty-two week low of $30.24 and a fifty-two week high of $48.55. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.91. The stock has a market cap of $298.05 million, a price-to-earnings ratio of 10.09 and a beta of 0.62.

ACNB (NASDAQ:ACNB) last issued its quarterly earnings data on Thursday, April 25th. The bank reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. ACNB had a return on equity of 11.00% and a net margin of 24.98%. The company had revenue of $31.64 million during the quarter, compared to analysts’ expectations of $26.28 million. Equities research analysts anticipate that ACNB will post 3.3 earnings per share for the current fiscal year.

ACNB Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, May 31st. This is an increase from ACNB’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a yield of 3.67%. ACNB’s dividend payout ratio is currently 36.99%.

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.