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

ACNB Co. (NASDAQ:ACNB) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 235,100 shares, an increase of 8.4% from the October 31st total of 216,800 shares. Currently, 2.9% of the company’s stock are short sold. Based on an average daily volume of 17,400 shares, the days-to-cover ratio is presently 13.5 days.

Institutional Investors Weigh In On ACNB

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in shares of ACNB in the third quarter valued at approximately $128,000. Haverford Trust Co bought a new position in shares of ACNB during the 3rd quarter valued at about $200,000. Martingale Asset Management L P purchased a new position in shares of ACNB during the 3rd quarter valued at about $223,000. Franklin Resources Inc. bought a new position in ACNB during the third quarter valued at approximately $221,000. Finally, SPC Financial Inc. purchased a new position in shares of ACNB during the third quarter worth approximately $271,000. Hedge funds and other institutional investors own 32.35% of the company’s stock.

ACNB Stock Performance

NASDAQ ACNB traded up $0.52 during trading hours on Wednesday, reaching $45.52. 8,330 shares of the company were exchanged, compared to its average volume of 16,411. The stock has a market capitalization of $389.20 million, a P/E ratio of 13.08 and a beta of 0.63. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.83. ACNB has a 1 year low of $30.24 and a 1 year high of $50.72. The business’s 50 day simple moving average is $44.49 and its 200-day simple moving average is $39.65.

ACNB (NASDAQ:ACNB) last released its earnings results 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). The firm had revenue of $34.07 million during the quarter, compared to analysts’ expectations of $27.51 million. ACNB had a return on equity of 10.18% and a net margin of 23.43%. On average, equities research analysts expect that ACNB will post 3.56 earnings per share 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 dividend on an annualized basis and a yield of 2.81%. ACNB’s dividend payout ratio is 37.21%.

Analyst Upgrades and Downgrades

ACNB has been the subject of several analyst reports. Janney Montgomery Scott assumed coverage on shares of ACNB in a report on Tuesday, November 19th. They issued a “buy” rating and a $53.00 target price for the company. StockNews.com upgraded ACNB from a “sell” rating to a “hold” rating in a research note on Friday, November 15th.

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.