ACNB Co. (NASDAQ:ACNB) Short Interest Up 16.8% in September

ACNB Co. (NASDAQ:ACNB) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 193,700 shares, an increase of 16.8% from the September 15th total of 165,900 shares. Based on an average daily trading volume, of 18,500 shares, the short-interest ratio is currently 10.5 days. Currently, 2.4% of the company’s shares are sold short.

Analysts Set New Price Targets

ACNB has been the topic of a number of recent analyst reports. StockNews.com raised ACNB from a “sell” rating to a “hold” rating in a research note on Thursday, July 25th. Hovde Group upgraded shares of ACNB from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research report on Wednesday, July 31st.

ACNB Stock Performance

ACNB stock opened at $42.54 on Monday. The firm has a market cap of $363.29 million, a PE ratio of 12.29 and a beta of 0.60. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.88. The stock has a 50-day moving average price of $40.90 and a 200-day moving average price of $36.65. ACNB has a 1-year low of $30.24 and a 1-year high of $48.55.

ACNB (NASDAQ:ACNB) last issued its earnings results on Wednesday, July 24th. The bank reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.48. The business had revenue of $33.30 million during the quarter, compared to the consensus estimate of $26.66 million. ACNB had a return on equity of 11.32% and a net margin of 25.62%. As a group, equities research analysts expect that ACNB will post 3.3 earnings per share for the current year.

ACNB Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date was Friday, August 30th. ACNB’s payout ratio is 36.99%.

Hedge Funds Weigh In On ACNB

Several institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in shares of ACNB in the 3rd quarter valued at about $128,000. BNP Paribas Financial Markets boosted its holdings in ACNB by 83.3% in the first quarter. BNP Paribas Financial Markets now owns 4,091 shares of the bank’s stock worth $154,000 after acquiring an additional 1,859 shares in the last quarter. Renaissance Technologies LLC grew its stake in ACNB by 1.7% in the second quarter. Renaissance Technologies LLC now owns 17,856 shares of the bank’s stock valued at $648,000 after acquiring an additional 300 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of ACNB by 8.7% during the second quarter. Bank of New York Mellon Corp now owns 30,534 shares of the bank’s stock valued at $1,107,000 after acquiring an additional 2,437 shares in the last quarter. Finally, Empowered Funds LLC raised its position in shares of ACNB by 8.2% during the first quarter. Empowered Funds LLC now owns 41,756 shares of the bank’s stock worth $1,570,000 after purchasing an additional 3,150 shares during the period. Institutional investors and hedge funds own 32.35% of the company’s stock.

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.