ACNB Co. (NASDAQ:ACNB) Short Interest Down 11.1% in May

ACNB Co. (NASDAQ:ACNBGet Free Report) was the target of a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 57,600 shares, a decrease of 11.1% from the May 15th total of 64,800 shares. Approximately 0.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 12,100 shares, the days-to-cover ratio is currently 4.8 days.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ACNB. FMR LLC raised its position in ACNB by 2.0% during the third quarter. FMR LLC now owns 490,483 shares of the bank’s stock valued at $15,504,000 after buying an additional 9,497 shares during the period. SG Americas Securities LLC raised its position in ACNB by 21.0% during the fourth quarter. SG Americas Securities LLC now owns 4,585 shares of the bank’s stock valued at $205,000 after buying an additional 795 shares during the period. Assenagon Asset Management S.A. acquired a new position in ACNB during the fourth quarter valued at $583,000. Allworth Financial LP acquired a new position in ACNB during the fourth quarter valued at $31,000. Finally, RKL Wealth Management LLC acquired a new position in ACNB during the fourth quarter valued at $434,000. 32.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ACNB has been the subject of several research analyst reports. Piper Sandler cut their price objective on ACNB from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. lowered ACNB from a “hold” rating to a “sell” rating in a report on Tuesday, June 11th.

View Our Latest Report on ACNB

ACNB Stock Up 1.0 %

Shares of ACNB stock opened at $31.39 on Tuesday. The stock’s fifty day moving average is $32.44 and its 200-day moving average is $37.24. The firm has a market capitalization of $268.07 million, a PE ratio of 9.07 and a beta of 0.62. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.91. ACNB has a 12-month low of $30.24 and a 12-month high of $48.55.

ACNB (NASDAQ:ACNBGet Free Report) last announced its earnings results on Thursday, April 25th. The bank reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. The company had revenue of $31.64 million for the quarter, compared to analyst estimates of $26.28 million. ACNB had a return on equity of 11.00% and a net margin of 24.98%. Equities analysts anticipate that ACNB will post 3.3 earnings per share for the current year.

ACNB Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a dividend of $0.32 per share. The ex-dividend date was Friday, May 31st. This is a positive change from ACNB’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.08%. ACNB’s payout ratio is 36.99%.

ACNB Company Profile

(Get Free Report)

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.

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