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

ACNB Co. (NASDAQ:ACNB) was the target of a significant increase in short interest in 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 volume of 18,500 shares, the short-interest ratio is presently 10.5 days. Approximately 2.4% of the company’s stock are short sold.

ACNB Price Performance

ACNB stock opened at $42.73 on Wednesday. The stock’s 50 day moving average is $41.13 and its two-hundred day moving average is $36.72. ACNB has a 52-week low of $30.24 and a 52-week high of $48.55. The company has a market capitalization of $364.91 million, a PE ratio of 12.35 and a beta of 0.60. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.88.

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

ACNB Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.32 per share. The ex-dividend date was Friday, August 30th. This represents a $1.28 annualized dividend and a dividend yield of 3.00%. ACNB’s payout ratio is 36.99%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On ACNB

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in ACNB during the 3rd quarter worth approximately $128,000. Renaissance Technologies LLC lifted its stake in ACNB by 1.7% during 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 during the last quarter. Dimensional Fund Advisors LP boosted its holdings in ACNB by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 253,306 shares of the bank’s stock worth $9,186,000 after purchasing an additional 5,119 shares during the period. Bank of New York Mellon Corp increased its stake in 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 purchasing an additional 2,437 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of ACNB by 1.4% during the first quarter. Vanguard Group Inc. now owns 425,755 shares of the bank’s stock worth $16,008,000 after purchasing an additional 5,724 shares during the period. 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.