ACNB Co. (NASDAQ:ACNB) Short Interest Down 75.5% in February

ACNB Co. (NASDAQ:ACNB - Get Free Report) saw a large drop in short interest in the month of February. As of February 15th, there was short interest totalling 60,000 shares, a drop of 75.5% from the January 31st total of 245,000 shares. Based on an average daily volume of 25,400 shares, the days-to-cover ratio is currently 2.4 days.

Institutional Investors Weigh In On ACNB

A number of large investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. acquired a new position in ACNB in the 3rd quarter worth approximately $834,000. RKL Wealth Management LLC lifted its holdings in shares of ACNB by 3.3% in the third quarter. RKL Wealth Management LLC now owns 10,098 shares of the bank's stock valued at $441,000 after purchasing an additional 326 shares in the last quarter. Haverford Trust Co acquired a new stake in shares of ACNB in the third quarter worth $200,000. Empowered Funds LLC grew its holdings in shares of ACNB by 5.4% during the third quarter. Empowered Funds LLC now owns 47,408 shares of the bank's stock valued at $2,070,000 after buying an additional 2,412 shares in the last quarter. Finally, Thrivent Financial for Lutherans acquired a new position in ACNB during the third quarter valued at $300,000. Institutional investors and hedge funds own 32.35% of the company's stock.

ACNB Price Performance

Shares of NASDAQ:ACNB traded up $2.29 on Monday, reaching $43.26. 53,651 shares of the company traded hands, compared to its average volume of 32,286. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $369.83 million, a PE ratio of 11.60 and a beta of 0.65. The company's 50 day moving average is $40.07 and its 200-day moving average is $42.33. ACNB has a fifty-two week low of $30.24 and a fifty-two week high of $50.72.

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ACNB (NASDAQ:ACNB - Get Free Report) last announced its earnings results on Thursday, January 23rd. The bank reported $0.77 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%. As a group, analysts anticipate that ACNB will post 3.22 earnings per share for the current fiscal year.

ACNB Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Friday, February 28th. ACNB's payout ratio is 34.32%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ACNB. Piper Sandler upgraded ACNB from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $37.00 to $50.00 in a report on Monday. Janney Montgomery Scott started coverage on shares of ACNB in a research report on Tuesday, November 19th. They issued a "buy" rating and a $53.00 price target on the stock. Finally, StockNews.com upgraded shares of ACNB from a "sell" rating to a "hold" rating in a research report on Friday, November 15th.

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.