Short Interest in Orrstown Financial Services, Inc. (NASDAQ:ORRF) Decreases By 41.5%

Orrstown Financial Services, Inc. (NASDAQ:ORRF) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 107,700 shares, a drop of 41.5% from the October 15th total of 184,000 shares. Based on an average daily volume of 91,400 shares, the short-interest ratio is presently 1.2 days.

Insider Transactions at Orrstown Financial Services

In other news, EVP David Todd Hornberger sold 4,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $37.82, for a total transaction of $151,280.00. Following the transaction, the executive vice president now owns 20,877 shares in the company, valued at approximately $789,568.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.30% of the stock is owned by corporate insiders.

Institutional Trading of Orrstown Financial Services

Large investors have recently made changes to their positions in the company. EntryPoint Capital LLC acquired a new stake in shares of Orrstown Financial Services in the 1st quarter valued at about $31,000. CWM LLC boosted its stake in Orrstown Financial Services by 227.9% during the 2nd quarter. CWM LLC now owns 1,692 shares of the bank’s stock valued at $46,000 after purchasing an additional 1,176 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Orrstown Financial Services by 92.9% during the 1st quarter. BNP Paribas Financial Markets now owns 5,227 shares of the bank’s stock valued at $140,000 after purchasing an additional 2,518 shares during the last quarter. SG Americas Securities LLC acquired a new position in Orrstown Financial Services during the 2nd quarter valued at about $154,000. Finally, Quest Partners LLC acquired a new position in Orrstown Financial Services during the 3rd quarter valued at about $155,000. 44.27% of the stock is currently owned by institutional investors and hedge funds.

Orrstown Financial Services Trading Down 0.7 %

Shares of ORRF stock traded down $0.30 during mid-day trading on Wednesday, hitting $40.84. The company’s stock had a trading volume of 136,515 shares, compared to its average volume of 79,586. The company’s fifty day simple moving average is $36.42 and its 200-day simple moving average is $31.75. Orrstown Financial Services has a 52 week low of $22.44 and a 52 week high of $41.99. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $791.07 million, a PE ratio of 22.34 and a beta of 0.89.

Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings data on Tuesday, October 22nd. The bank reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.19. The firm had revenue of $95.37 million during the quarter, compared to analyst estimates of $60.90 million. Orrstown Financial Services had a return on equity of 17.66% and a net margin of 6.63%. As a group, equities research analysts expect that Orrstown Financial Services will post 4 earnings per share for the current fiscal year.

Orrstown Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.92 annualized dividend and a dividend yield of 2.25%. Orrstown Financial Services’s dividend payout ratio is presently 49.46%.

Wall Street Analysts Forecast Growth

Separately, Hovde Group downgraded Orrstown Financial Services from an “outperform” rating to a “market perform” rating in a report on Wednesday.

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.