Orrstown Financial Services, Inc. (NASDAQ:ORRF) Short Interest Update

Orrstown Financial Services, Inc. (NASDAQ:ORRF) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totalling 184,900 shares, a growth of 23.3% from the December 15th total of 150,000 shares. Based on an average daily volume of 104,200 shares, the short-interest ratio is currently 1.8 days.

Insider Transactions at Orrstown Financial Services

In related news, EVP David Todd Hornberger sold 4,000 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $37.82, for a total transaction of $151,280.00. Following the sale, the executive vice president now owns 20,877 shares of the company’s stock, valued at approximately $789,568.14. This represents a 16.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.20% of the company’s stock.

Institutional Trading of Orrstown Financial Services

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fourthstone LLC lifted its holdings in shares of Orrstown Financial Services by 223.8% in the 3rd quarter. Fourthstone LLC now owns 1,811,825 shares of the bank’s stock worth $65,153,000 after acquiring an additional 1,252,356 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Orrstown Financial Services by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 499,814 shares of the bank’s stock worth $13,674,000 after purchasing an additional 7,465 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Orrstown Financial Services by 32.2% during the third quarter. Geode Capital Management LLC now owns 434,228 shares of the bank’s stock valued at $15,617,000 after buying an additional 105,735 shares during the last quarter. State Street Corp increased its holdings in shares of Orrstown Financial Services by 12.8% in the third quarter. State Street Corp now owns 342,119 shares of the bank’s stock worth $12,303,000 after buying an additional 38,886 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Orrstown Financial Services in the 3rd quarter valued at about $8,734,000. Hedge funds and other institutional investors own 44.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ORRF. Hovde Group downgraded shares of Orrstown Financial Services from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 13th. Piper Sandler began coverage on shares of Orrstown Financial Services in a research note on Wednesday, January 8th. They issued an “overweight” rating and a $43.00 target price on the stock.

Orrstown Financial Services Price Performance

NASDAQ ORRF traded up $0.15 during trading on Friday, reaching $36.06. The company’s stock had a trading volume of 110,884 shares, compared to its average volume of 72,241. The firm has a fifty day moving average of $38.00 and a 200 day moving average of $35.64. Orrstown Financial Services has a one year low of $24.70 and a one year high of $41.99. The stock has a market capitalization of $699.20 million, a PE ratio of 19.39 and a beta of 0.91. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.88 and a quick ratio of 0.88.

Orrstown Financial Services (NASDAQ:ORRF) last announced its earnings results on Tuesday, October 22nd. The bank reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.19. Orrstown Financial Services had a net margin of 6.63% and a return on equity of 14.41%. The company had revenue of $95.37 million during the quarter, compared to analyst estimates of $60.90 million. Analysts expect that Orrstown Financial Services will post 4 EPS for the current fiscal year.

Orrstown Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Tuesday, November 5th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.55%. Orrstown Financial Services’s dividend payout ratio is 49.46%.

Orrstown Financial Services Company Profile

Orrstown Financial Services, Inc operates as the financial holding company for Orrstown Bank that provides commercial banking and financial advisory services to retail, commercial, non-profit, and government clients in the United States. It accepts various deposits, including checking, savings, time, demand, and money market deposits, as well as certificates of deposit.