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

ACNB Co. (NASDAQ:ACNB - Get Free Report) was the recipient of a significant growth in short interest in the month of 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. Currently, 2.6% of the shares of the company are sold short. Based on an average daily volume of 17,500 shares, the days-to-cover ratio is currently 12.0 days.

ACNB Stock Performance

NASDAQ ACNB traded up $0.47 during midday trading on Wednesday, hitting $41.99. The company had a trading volume of 7,116 shares, compared to its average volume of 16,083. The firm has a fifty day simple moving average of $42.09 and a two-hundred day simple moving average of $37.34. ACNB has a fifty-two week low of $30.24 and a fifty-two week high of $48.55. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.88. The stock has a market cap of $358.59 million, a price-to-earnings ratio of 12.14 and a beta of 0.60.

ACNB (NASDAQ:ACNB - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.04). ACNB had a net margin of 25.62% and a return on equity of 11.32%. The firm had revenue of $34.07 million for the quarter, compared to the consensus estimate of $27.51 million. Equities analysts forecast that ACNB will post 3.3 earnings per share for the current fiscal year.

ACNB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 annualized dividend and a yield of 3.05%. ACNB's dividend payout ratio (DPR) is currently 36.99%.

Institutional Investors Weigh In On ACNB

A number of institutional investors have recently bought and sold shares of ACNB. Vanguard Group Inc. boosted its position in shares of ACNB by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 425,755 shares of the bank's stock valued at $16,008,000 after acquiring an additional 5,724 shares in the last quarter. Ellsworth Advisors LLC acquired a new stake in ACNB during the third quarter valued at approximately $547,000. Bank of New York Mellon Corp grew its stake 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 valued at $1,107,000 after purchasing an additional 2,437 shares during the period. BNP Paribas Financial Markets raised 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 worth $154,000 after buying an additional 1,859 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of ACNB by 8.2% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 32.35% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Hovde Group upgraded 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 ACNB from a "sell" rating to a "hold" rating in a research note on Thursday, July 25th.

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.