Orrstown Financial Services Inc (NASDAQ:ORRF) Short Interest Down 16.5% in December

Orrstown Financial Services Inc (NASDAQ:ORRF) was the recipient of a significant drop in short interest during the month of December. As of December 15th, there was short interest totaling 326,306 shares, a drop of 16.5% from the November 30th total of 390,811 shares. Based on an average daily volume of 385,568 shares, the days-to-cover ratio is currently 0.8 days. Approximately 1.8% of the shares of the stock are sold short. Approximately 1.8% of the shares of the stock are sold short. Based on an average daily volume of 385,568 shares, the days-to-cover ratio is currently 0.8 days.

Orrstown Financial Services Price Performance

ORRF remained flat at $35.49 during trading on Wednesday. The company’s stock had a trading volume of 69,884 shares, compared to its average volume of 159,107. The company has a market cap of $692.06 million, a price-to-earnings ratio of 9.39 and a beta of 0.82. Orrstown Financial Services has a 52 week low of $25.57 and a 52 week high of $38.38. The company’s fifty day simple moving average is $35.42 and its two-hundred day simple moving average is $34.18. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.06.

Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings data on Tuesday, November 8th. The bank reported $0.65 EPS for the quarter. Orrstown Financial Services had a return on equity of 14.39% and a net margin of 20.48%.The firm had revenue of $28.27 million during the quarter. Analysts predict that Orrstown Financial Services will post 4.23 EPS for the current year.

Orrstown Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 12th. Stockholders of record on Wednesday, November 5th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Wednesday, November 5th. Orrstown Financial Services’s dividend payout ratio is currently 28.57%.

Analysts Set New Price Targets

ORRF has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Orrstown Financial Services in a report on Wednesday, October 8th. Zacks Research cut Orrstown Financial Services from a “strong-buy” rating to a “hold” rating in a report on Friday, October 3rd. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.25.

Institutional Investors Weigh In On Orrstown Financial Services

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Caldwell Trust Co purchased a new position in shares of Orrstown Financial Services during the 2nd quarter valued at approximately $25,000. State of Alaska Department of Revenue bought a new position in Orrstown Financial Services during the 3rd quarter valued at $26,000. Financial Consulate Inc. acquired a new position in Orrstown Financial Services during the 3rd quarter worth $36,000. Quarry LP bought a new stake in shares of Orrstown Financial Services in the 3rd quarter worth about $42,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Orrstown Financial Services in the 2nd quarter valued at about $45,000. 44.27% of the stock is currently owned by hedge funds and other institutional investors.

About Orrstown Financial Services

Orrstown Financial Services, Inc is the bank holding company for Orrstown Bank, a community banking organization headquartered in Shippensburg, Pennsylvania. The roots of Orrstown Bank date back to 1865, and the holding company structure was established to support its growth and diversification. As a regional financial institution, Orrstown Financial Services focuses on delivering personalized banking solutions to individuals, families and businesses across Central Pennsylvania.

The company’s core offerings include a full suite of deposit products such as checking and savings accounts, money market accounts and certificates of deposit.