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

ACNB Co. (NASDAQ:ACNB) was the target of a significant 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. Based on an average daily volume of 16,500 shares, the short-interest ratio is currently 7.5 days. Currently, 1.5% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ACNB shares. 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. Piper Sandler decreased their price target 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.

ACNB Trading Down 1.0 %

NASDAQ ACNB opened at $38.11 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.91. ACNB has a 52 week low of $30.24 and a 52 week high of $48.55. The business has a 50 day moving average price of $35.97 and a 200-day moving average price of $35.17. The company has a market cap of $325.46 million, a price-to-earnings ratio of 11.01 and a beta of 0.62.

ACNB (NASDAQ:ACNB) last posted its quarterly earnings results on Wednesday, July 24th. The bank reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.48. ACNB had a net margin of 25.62% and a return on equity of 11.51%. The business had revenue of $33.30 million during the quarter, compared to the consensus estimate of $26.66 million. As a group, equities analysts expect that ACNB will post 3.3 earnings per share for the current fiscal year.

ACNB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued 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 dividend payout ratio is presently 36.99%.

Hedge Funds Weigh In On ACNB

Large investors have recently added to or reduced their stakes in the business. Allworth Financial LP purchased a new stake in shares of ACNB in the fourth quarter worth approximately $31,000. BNP Paribas Financial Markets raised its position in 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 buying an additional 1,859 shares during the last quarter. Savant Capital LLC purchased a new stake in ACNB in the 4th quarter valued at $264,000. Renaissance Technologies LLC lifted its stake in ACNB by 1.7% during the 2nd quarter. Renaissance Technologies LLC now owns 17,856 shares of the bank’s stock valued at $648,000 after acquiring an additional 300 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted 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 worth $1,107,000 after acquiring an additional 2,437 shares during the last quarter. 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.