ACNB Co. (NASDAQ:ACNB) Short Interest Down 11.6% in March

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

Wall Street Analyst Weigh In

ACNB has been the subject of a number of recent research reports. Piper Sandler boosted their target price on shares of ACNB from $43.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, December 18th. StockNews.com downgraded ACNB from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Finally, Hovde Group downgraded ACNB from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $40.00 to $47.00 in a research note on Monday, December 18th.

ACNB Stock Down 2.2 %

ACNB stock opened at $32.65 on Monday. 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 company has a market cap of $277.85 million, a PE ratio of 8.78 and a beta of 0.60. ACNB has a 52 week low of $27.00 and a 52 week high of $48.55. The business has a 50-day simple moving average of $35.78 and a 200 day simple moving average of $38.06.

ACNB (NASDAQ:ACNB) last issued its earnings results on Thursday, January 25th. The bank reported $0.48 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.48). The business had revenue of $22.46 million for the quarter, compared to analyst estimates of $27.75 million. ACNB had a return on equity of 12.12% and a net margin of 27.53%. Sell-side analysts anticipate that ACNB will post 3.4 EPS for the current fiscal year.

ACNB Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of ACNB by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 420,031 shares of the bank’s stock valued at $18,801,000 after buying an additional 11,138 shares during the period. Barclays PLC increased its stake in shares of ACNB by 697.7% in the fourth quarter. Barclays PLC now owns 11,359 shares of the bank’s stock valued at $509,000 after buying an additional 9,935 shares during the period. Nuveen Asset Management LLC increased its stake in shares of ACNB by 36.4% in the fourth quarter. Nuveen Asset Management LLC now owns 16,218 shares of the bank’s stock valued at $726,000 after buying an additional 4,331 shares during the period. Bridgeway Capital Management LLC increased its stake in shares of ACNB by 4.0% in the fourth quarter. Bridgeway Capital Management LLC now owns 90,006 shares of the bank’s stock valued at $4,029,000 after buying an additional 3,456 shares during the period. Finally, Citadel Advisors LLC acquired a new position in shares of ACNB in the fourth quarter valued at approximately $404,000. Institutional investors and hedge funds own 32.35% of the company’s stock.

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.