ACNB Co. (NASDAQ:ACNB) Short Interest Up 8.5% in October

ACNB Co. (NASDAQ:ACNB) saw a large 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. Based on an average daily volume of 17,500 shares, the short-interest ratio is presently 12.0 days. Currently, 2.6% of the company’s stock are short sold.

Analysts Set New Price Targets

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

ACNB Price Performance

Shares of NASDAQ ACNB opened at $41.52 on Wednesday. The stock’s 50-day simple moving average is $42.03 and its 200-day simple moving average is $37.31. The firm has a market capitalization of $354.58 million, a PE ratio of 12.00 and a beta of 0.60. ACNB has a fifty-two week low of $30.24 and a fifty-two week high of $48.55. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.93 and a current ratio of 0.93.

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

ACNB Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Friday, November 29th. ACNB’s payout ratio is 36.99%.

Institutional Trading of ACNB

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in ACNB during the 3rd quarter worth approximately $128,000. BNP Paribas Financial Markets increased its holdings in shares of 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 acquiring an additional 1,859 shares during the period. SPC Financial Inc. purchased a new stake in ACNB in the 3rd quarter valued at $271,000. Ellsworth Advisors LLC purchased a new stake in ACNB in the 3rd quarter valued at $547,000. Finally, Renaissance Technologies LLC boosted its stake 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 during the period. 32.35% of the stock is owned by hedge funds and other institutional investors.

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.