ACNB Co. (NASDAQ:ACNB) Sees Significant Increase in Short Interest

ACNB Co. (NASDAQ:ACNB) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 210,200 shares, an increase of 8.5% from the September 30th total of 193,700 shares. Based on an average daily volume of 17,500 shares, the short-interest ratio is currently 12.0 days. Currently, 2.6% of the shares of the stock are sold short.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ACNB shares. Hovde Group raised ACNB from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research note on Wednesday, July 31st. StockNews.com upgraded ACNB from a “sell” rating to a “hold” rating in a research report on Thursday, July 25th.

ACNB Stock Up 1.1 %

ACNB stock opened at $41.99 on Thursday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $358.59 million, a P/E ratio of 12.14 and a beta of 0.60. ACNB has a 52-week low of $30.24 and a 52-week high of $48.55. The company’s 50 day simple moving average is $42.09 and its 200-day simple moving average is $37.34.

ACNB (NASDAQ:ACNB) last announced its earnings results on Thursday, October 24th. The bank reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.04). The firm had revenue of $34.07 million for the quarter, compared to analyst estimates of $27.51 million. ACNB had a net margin of 25.62% and a return on equity of 11.32%. As a group, equities research analysts anticipate that ACNB will post 3.3 EPS for the current year.

ACNB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Friday, November 29th. ACNB’s dividend payout ratio is currently 36.99%.

Institutional Investors Weigh In On ACNB

A number of institutional investors have recently bought and sold shares of ACNB. Renaissance Technologies LLC lifted its position in shares of ACNB by 1.7% in the second quarter. Renaissance Technologies LLC now owns 17,856 shares of the bank’s stock worth $648,000 after purchasing an additional 300 shares in the last quarter. BNP Paribas Financial Markets increased its stake in ACNB by 83.3% in the 1st quarter. BNP Paribas Financial Markets now owns 4,091 shares of the bank’s stock valued at $154,000 after buying an additional 1,859 shares during the period. Bank of New York Mellon Corp lifted its position in ACNB by 8.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 30,534 shares of the bank’s stock worth $1,107,000 after buying an additional 2,437 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of ACNB during the 3rd quarter valued at $128,000. Finally, Empowered Funds LLC grew its holdings in shares of ACNB by 8.2% during the 1st quarter. Empowered Funds LLC now owns 41,756 shares of the bank’s stock valued at $1,570,000 after acquiring an additional 3,150 shares in the last quarter. 32.35% of the stock is currently owned by institutional investors and hedge funds.

ACNB Company Profile

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.