Orrstown Financial Services, Inc. (NASDAQ:ORRF) was the target of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 26,800 shares, a drop of 12.4% from the January 15th total of 30,600 shares. Based on an average daily trading volume, of 13,300 shares, the short-interest ratio is currently 2.0 days. Currently, 0.3% of the shares of the company are sold short.
A number of equities research analysts have recently commented on ORRF shares. ValuEngine upgraded Orrstown Financial Services from a “sell” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research cut Orrstown Financial Services from a “hold” rating to a “sell” rating in a research report on Saturday, January 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Orrstown Financial Services has a consensus rating of “Hold” and a consensus target price of $23.83.
Shares of NASDAQ:ORRF traded down $0.86 during trading on Friday, reaching $20.71. 10,500 shares of the company’s stock traded hands, compared to its average volume of 15,961. Orrstown Financial Services has a fifty-two week low of $18.09 and a fifty-two week high of $23.48. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.43. The firm has a market cap of $243.38 million, a PE ratio of 13.03 and a beta of 0.62. The company has a 50-day simple moving average of $21.84 and a 200-day simple moving average of $21.91.
Orrstown Financial Services (NASDAQ:ORRF) last posted its earnings results on Tuesday, January 21st. The bank reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.08. Orrstown Financial Services had a return on equity of 9.40% and a net margin of 13.93%. The firm had revenue of $24.97 million for the quarter, compared to analysts’ expectations of $22.94 million. On average, equities research analysts forecast that Orrstown Financial Services will post 1.92 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Monday, February 3rd were given a dividend of $0.17 per share. The ex-dividend date was Friday, January 31st. This is a boost from Orrstown Financial Services’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.28%. Orrstown Financial Services’s dividend payout ratio (DPR) is 36.96%.
Several large investors have recently bought and sold shares of ORRF. Citigroup Inc. grew its position in shares of Orrstown Financial Services by 85.5% during the 4th quarter. Citigroup Inc. now owns 2,029 shares of the bank’s stock valued at $46,000 after acquiring an additional 935 shares during the period. Metropolitan Life Insurance Co NY acquired a new stake in shares of Orrstown Financial Services during the 3rd quarter valued at about $84,000. Bessemer Group Inc. grew its position in shares of Orrstown Financial Services by 65.4% during the 4th quarter. Bessemer Group Inc. now owns 8,600 shares of the bank’s stock valued at $195,000 after acquiring an additional 3,400 shares during the period. Barclays PLC grew its position in shares of Orrstown Financial Services by 98.0% during the 4th quarter. Barclays PLC now owns 10,311 shares of the bank’s stock valued at $233,000 after acquiring an additional 5,104 shares during the period. Finally, UBS Group AG grew its position in shares of Orrstown Financial Services by 42.9% during the 4th quarter. UBS Group AG now owns 13,161 shares of the bank’s stock valued at $298,000 after acquiring an additional 3,951 shares during the period. Hedge funds and other institutional investors own 41.83% of the company’s stock.
About Orrstown Financial Services
Orrstown Financial Services, Inc operates as the holding company for Orrstown Bank that provides commercial banking and trust services in the United States. The company accepts various deposits, including checking, savings, time, demand, and money market deposits. It also offers commercial loans, such as commercial real estate, equipment, working capital, and other commercial purpose loans; consumer loans comprising home equity and other consumer loans, as well as home equity lines of credit; residential mortgage loans; agribusiness loans; acquisition and development loans; municipal loans; and installment and other loans.
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