ACNB Co. (NASDAQ:ACNB) Short Interest Up 28.5% in March

ACNB Co. (NASDAQ:ACNB - Get Free Report) was the target of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 89,700 shares, an increase of 28.5% from the March 15th total of 69,800 shares. Based on an average daily trading volume, of 38,100 shares, the days-to-cover ratio is currently 2.4 days. Currently, 1.1% of the company's stock are sold short.

ACNB Stock Up 0.7 %

Shares of ACNB traded up $0.31 during trading on Wednesday, reaching $41.66. The company's stock had a trading volume of 32,425 shares, compared to its average volume of 22,917. ACNB has a twelve month low of $30.24 and a twelve month high of $50.72. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.83. The company has a market cap of $439.22 million, a price-to-earnings ratio of 11.17 and a beta of 0.69. The company has a fifty day moving average of $40.69 and a two-hundred day moving average of $42.08.

ACNB (NASDAQ:ACNB - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.06). ACNB had a net margin of 24.09% and a return on equity of 10.91%. On average, sell-side analysts predict that ACNB will post 3.22 EPS for the current fiscal year.

ACNB Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.34 per share. This is a boost from ACNB's previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 3.26%. ACNB's dividend payout ratio (DPR) is presently 34.32%.

Analyst Ratings Changes

ACNB has been the subject of a number of analyst reports. Raymond James started coverage on ACNB in a report on Friday, March 21st. They issued an "outperform" rating and a $47.00 price target for the company. Piper Sandler upgraded shares of ACNB from a "neutral" rating to an "overweight" rating and upped their target price for the company from $37.00 to $50.00 in a research note on Monday, March 3rd. Finally, UBS Group set a $47.00 price target on shares of ACNB in a research note on Friday, March 21st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, ACNB currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.40.

Institutional Trading of ACNB

Hedge funds and other institutional investors have recently bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new position in shares of ACNB in the 4th quarter worth approximately $42,000. Tower Research Capital LLC TRC lifted its stake in ACNB by 431.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,505 shares of the bank's stock worth $60,000 after purchasing an additional 1,222 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in ACNB in the fourth quarter worth $92,000. SG Americas Securities LLC increased its stake in ACNB by 35.3% during the fourth quarter. SG Americas Securities LLC now owns 3,963 shares of the bank's stock valued at $158,000 after purchasing an additional 1,035 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of ACNB by 29.7% during the fourth quarter. Wells Fargo & Company MN now owns 5,004 shares of the bank's stock worth $199,000 after purchasing an additional 1,147 shares during the period. 32.35% of the stock is owned by institutional investors.

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.