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

ACNB Co. (NASDAQ:ACNB) saw a large decrease in short interest in 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 daily volume of 14,400 shares, the short-interest ratio is presently 4.4 days. Approximately 0.8% of the company’s shares are sold short.

Wall Street Analyst Weigh In

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

ACNB Stock Up 0.9 %

Shares of ACNB stock opened at $32.54 on Wednesday. ACNB has a one year low of $27.00 and a one year high of $48.55. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.87 and a quick ratio of 0.87. The stock’s 50-day moving average is $34.83 and its 200 day moving average is $38.10. The firm has a market cap of $276.92 million, a price-to-earnings ratio of 9.40 and a beta of 0.60.

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

ACNB Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.28 annualized dividend and a yield of 3.93%. This is a positive change from ACNB’s previous quarterly dividend of $0.30. ACNB’s dividend payout ratio is presently 34.68%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP bought a new position in ACNB in the fourth quarter worth approximately $31,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of ACNB by 2,578.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,732 shares of the bank’s stock valued at $86,000 after purchasing an additional 2,630 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of ACNB in the third quarter valued at approximately $120,000. Savant Capital LLC bought a new position in shares of ACNB in the fourth quarter valued at approximately $264,000. Finally, RKL Wealth Management LLC bought a new position in shares of ACNB in the fourth quarter valued at approximately $434,000. Institutional investors 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.