Orrstown Financial Services, Inc. (NASDAQ:ORRF) Short Interest Down 16.4% in January

Orrstown Financial Services, Inc. (NASDAQ:ORRF) saw a significant drop in short interest during the month of January. As of January 15th, there was short interest totalling 154,600 shares, a drop of 16.4% from the December 31st total of 184,900 shares. Based on an average daily volume of 114,300 shares, the days-to-cover ratio is presently 1.4 days.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ORRF. Comprehensive Financial Planning Inc. PA bought a new position in Orrstown Financial Services in the fourth quarter valued at approximately $38,000. R Squared Ltd bought a new stake in shares of Orrstown Financial Services in the fourth quarter worth $42,000. CWM LLC raised its position in Orrstown Financial Services by 31.0% during the third quarter. CWM LLC now owns 2,217 shares of the bank’s stock worth $80,000 after acquiring an additional 525 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in Orrstown Financial Services in the fourth quarter valued at $92,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Orrstown Financial Services in the fourth quarter valued at $123,000. Institutional investors and hedge funds own 44.27% of the company’s stock.

Orrstown Financial Services Stock Performance

NASDAQ:ORRF traded down $0.27 during midday trading on Friday, reaching $36.34. The stock had a trading volume of 159,615 shares, compared to its average volume of 100,259. Orrstown Financial Services has a 1-year low of $24.70 and a 1-year high of $41.99. The firm’s fifty day simple moving average is $37.17 and its 200-day simple moving average is $36.18. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $704.49 million, a P/E ratio of 19.54 and a beta of 0.91.

Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings results on Friday, January 31st. The bank reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.17). Orrstown Financial Services had a return on equity of 14.41% and a net margin of 6.63%. On average, equities research analysts forecast that Orrstown Financial Services will post 4 EPS for the current fiscal year.

Orrstown Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 14th will be given a dividend of $0.26 per share. This is a boost from Orrstown Financial Services’s previous quarterly dividend of $0.23. This represents a $1.04 annualized dividend and a dividend yield of 2.86%. Orrstown Financial Services’s payout ratio is currently 56.52%.

Analyst Upgrades and Downgrades

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

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.