ACNB Co. (NASDAQ:ACNB) Short Interest Up 33.4% in August

ACNB Co. (NASDAQ:ACNB) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 167,100 shares, an increase of 33.4% from the August 15th total of 125,300 shares. Based on an average daily trading volume, of 17,600 shares, the days-to-cover ratio is currently 9.5 days. Currently, 2.0% of the shares of the stock are short sold.

ACNB Stock Performance

NASDAQ ACNB opened at $42.18 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.93 and a quick ratio of 0.93. ACNB has a 1-year low of $30.24 and a 1-year high of $48.55. The business has a 50 day simple moving average of $39.44 and a two-hundred day simple moving average of $35.62. The stock has a market capitalization of $360.64 million, a PE ratio of 12.19 and a beta of 0.60.

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

ACNB Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.03%. ACNB’s dividend payout ratio (DPR) is presently 36.99%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC raised its position in ACNB by 1.7% during the second quarter. Renaissance Technologies LLC now owns 17,856 shares of the bank’s stock valued at $648,000 after purchasing an additional 300 shares during the period. BNP Paribas Financial Markets increased its position in shares of ACNB by 83.3% during the 1st quarter. BNP Paribas Financial Markets now owns 4,091 shares of the bank’s stock valued at $154,000 after purchasing an additional 1,859 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in ACNB by 8.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 30,534 shares of the bank’s stock valued at $1,107,000 after buying an additional 2,437 shares during the period. Empowered Funds LLC lifted its position in ACNB by 8.2% in the first quarter. Empowered Funds LLC now owns 41,756 shares of the bank’s stock worth $1,570,000 after buying an additional 3,150 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in ACNB by 2.1% during the second quarter. Dimensional Fund Advisors LP now owns 253,306 shares of the bank’s stock worth $9,186,000 after buying an additional 5,119 shares during the period. Institutional investors own 32.35% of the company’s stock.

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.