ACNB Co. Sees 5.6% Rise in Short Interest for January

ACNB Co. (NASDAQ:ACNB) reported a notable rise in its short interest during January. As of January 31st, short interest reached 245,000 shares, indicating a 5.6% increase from the 231,900 shares as of January 15th. Given the average daily trading volume of 24,200 shares, this results in a short-interest ratio of 10.1 days.

Wall Street Analysts Predict Growth

Various financial analysts have shared their insights on ACNB stock. Notably, Janney Montgomery Scott initiated coverage on ACNB with a "buy" rating and set a price target of $53.00. Additionally, StockNews.com upgraded ACNB from a "sell" to a "hold" rating in its earlier report.

Changes in Institutional Holdings

Recent adjustments in institutional holding of ACNB have also been observed. FMR LLC increased its stake in ACNB by 3.9% during the third quarter, now owning 570,731 shares valued at approximately $24.9 million after an additional purchase of 21,358 shares. Dimensional Fund Advisors LP saw a 4.1% growth in its holdings during the fourth quarter and now controls 273,669 shares, worth about $10.9 million, following an acquisition of 10,796 shares. Similarly, Geode Capital Management LLC’s holdings rose by 1.1% to reach 191,437 shares valued at around $8.36 million. State Street Corp also grew its stake by 3.5%, owning 142,024 shares worth approximately $6.2 million after acquiring an additional 4,851 shares. The Manufacturers Life Insurance Company increased its investment in ACNB by 6.9%, now holding 124,228 shares valued at about $4.95 million after acquiring 8,032 shares. Overall, institutional investors and hedge funds hold 32.35% of the company's stock.

ACNB Stock Performance

On a recent trading day, ACNB opened at $41.53. The company has a market capitalization of $355.08 million, a P/E ratio of 11.13, and a beta of 0.65. The stock exhibits a current ratio and quick ratio of 0.94 each, while its debt-to-equity ratio stands at 0.83. The 50-day simple moving average is $40.86, contrasting with a 200-day moving average of $42.11. For context, ACNB recorded a 12-month low of $30.24 and a high of $50.72.

The bank disclosed its earnings results on January 23rd, reporting an EPS of $0.77 for the quarter, which was below analysts' expectations of $0.83, missing by $0.06. The net margin for ACNB was 24.09%, and its return on equity came in at 10.91%. Current projections suggest that ACNB may achieve an EPS of 3.22 for the upcoming year.

Dividend Announcement

ACNB also declared a quarterly dividend of $0.32, which shareholders of record on February 28th will receive. This translates to an annualized dividend payout of $1.28, yielding 3.08%. The ex-dividend date is set for February 28th, with a current payout ratio of 34.32%.

Company Overview

ACNB Corporation is a financial holding company that provides banking, insurance, and financial services to individual, business, and government customers across the United States. Its offerings include checking, savings, and money market accounts, commercial lending products such as mortgages and equipment financing, as well as consumer lending products that encompass home equity lines and auto loans.

ACNB, Stock, Investors