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

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new position in shares of ACNB during the 3rd quarter valued at $834,000. Ellsworth Advisors LLC purchased a new stake in ACNB during the 3rd quarter worth about $547,000. SPC Financial Inc. purchased a new stake in ACNB during the 3rd quarter worth about $271,000. SG Americas Securities LLC purchased a new stake in ACNB during the 3rd quarter worth about $128,000. Finally, Renaissance Technologies LLC lifted its holdings in ACNB by 1.7% during the 2nd 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. Hedge funds and other institutional investors own 32.35% of the company’s stock.

ACNB Stock Up 0.0 %

Shares of NASDAQ:ACNB opened at $42.00 on Friday. The company has a market capitalization of $358.68 million, a PE ratio of 12.14 and a beta of 0.60. 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 business has a fifty day moving average price of $42.09 and a two-hundred day moving average price of $37.34. ACNB has a 1 year low of $30.24 and a 1 year high of $48.55.

ACNB (NASDAQ:ACNB) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.04). ACNB had a net margin of 25.62% and a return on equity of 11.32%. The business had revenue of $34.07 million during the quarter, compared to the consensus estimate of $27.51 million. Analysts forecast that ACNB will post 3.3 earnings per share for the current year.

ACNB Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, November 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.05%. ACNB’s dividend payout ratio is presently 36.99%.

Analyst Upgrades and Downgrades

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

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.