ACNB Co. (NASDAQ:ACNB) Short Interest Update

ACNB Co. (NASDAQ:ACNB) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 124,400 shares, a growth of 87.9% from the July 15th total of 66,200 shares. Approximately 1.5% of the shares of the stock are sold short. Based on an average daily volume of 16,500 shares, the days-to-cover ratio is presently 7.5 days.

Hedge Funds Weigh In On ACNB

Institutional investors and hedge funds have recently made changes to their positions in the business. Allworth Financial LP purchased a new stake in shares of ACNB during the 4th quarter valued at about $31,000. BNP Paribas Financial Markets increased its stake in ACNB by 83.3% during the first quarter. BNP Paribas Financial Markets now owns 4,091 shares of the bank’s stock worth $154,000 after acquiring an additional 1,859 shares during the last quarter. Savant Capital LLC purchased a new stake in ACNB during the fourth quarter valued at approximately $264,000. 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. Finally, Bank of New York Mellon Corp boosted its holdings in shares of ACNB by 8.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 30,534 shares of the bank’s stock worth $1,107,000 after purchasing an additional 2,437 shares during the period. 32.35% of the stock is owned by hedge funds and other institutional investors.

ACNB Price Performance

Shares of ACNB stock opened at $38.11 on Thursday. The firm has a market cap of $325.46 million, a PE ratio of 11.01 and a beta of 0.62. The stock has a 50 day moving average of $35.97 and a 200 day moving average of $35.17. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.91. ACNB has a 12 month low of $30.24 and a 12 month high of $48.55.

ACNB (NASDAQ:ACNB) last issued its quarterly earnings data on Wednesday, July 24th. The bank reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.48. ACNB had a return on equity of 11.51% and a net margin of 25.62%. The business had revenue of $33.30 million for the quarter, compared to analysts’ expectations of $26.66 million. On average, research analysts expect that ACNB will post 3.3 EPS for the current fiscal year.

ACNB Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.36%. ACNB’s payout ratio is currently 36.99%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Hovde Group upgraded shares of ACNB from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research report on Wednesday, July 31st. Piper Sandler cut their target price on shares of ACNB from $40.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Finally, StockNews.com upgraded shares of ACNB from a “sell” rating to a “hold” rating in a report on Thursday, July 25th.

About ACNB

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.