Acadian Asset Management LLC increased its stake in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF – Free Report) by 1.8% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 82,328 shares of the bank’s stock after acquiring an additional 1,418 shares during the period. Acadian Asset Management LLC owned approximately 0.77% of Orrstown Financial Services worth $1,634,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of ORRF. FMR LLC raised its position in shares of Orrstown Financial Services by 5.0% in the 1st quarter. FMR LLC now owns 565,991 shares of the bank’s stock valued at $11,241,000 after purchasing an additional 27,047 shares in the last quarter. American Century Companies Inc. raised its position in shares of Orrstown Financial Services by 5.1% in the 1st quarter. American Century Companies Inc. now owns 64,585 shares of the bank’s stock valued at $1,288,000 after purchasing an additional 3,135 shares in the last quarter. Salzhauer Michael acquired a new position in shares of Orrstown Financial Services in the 1st quarter valued at approximately $207,000. Barclays PLC raised its position in shares of Orrstown Financial Services by 17.5% in the 1st quarter. Barclays PLC now owns 16,189 shares of the bank’s stock valued at $322,000 after purchasing an additional 2,416 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Orrstown Financial Services by 111.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,422 shares of the bank’s stock valued at $147,000 after purchasing an additional 3,907 shares in the last quarter. 43.27% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
ORRF has been the topic of a number of recent analyst reports. Piper Sandler upped their target price on Orrstown Financial Services from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Monday, July 31st. StockNews.com assumed coverage on Orrstown Financial Services in a report on Thursday, August 17th. They issued a “hold” rating for the company.
Orrstown Financial Services Price Performance
Shares of NASDAQ ORRF opened at $21.76 on Friday. Orrstown Financial Services, Inc. has a twelve month low of $15.52 and a twelve month high of $28.42. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $230.90 million, a price-to-earnings ratio of 6.72 and a beta of 0.89. The business has a 50 day simple moving average of $21.61 and a 200-day simple moving average of $20.35.
Orrstown Financial Services (NASDAQ:ORRF – Get Free Report) last issued its quarterly earnings data on Tuesday, July 25th. The bank reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.19. The firm had revenue of $33.53 million during the quarter, compared to the consensus estimate of $31.75 million. Orrstown Financial Services had a return on equity of 15.69% and a net margin of 21.81%. As a group, equities research analysts expect that Orrstown Financial Services, Inc. will post 3.4 earnings per share for the current year.
Orrstown Financial Services Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 8th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, August 7th. This represents a $0.80 annualized dividend and a dividend yield of 3.68%. Orrstown Financial Services’s payout ratio is 24.69%.
About Orrstown Financial Services
Orrstown Financial Services, Inc operates as the holding company for Orrstown Bank that provides commercial banking and financial advisory services in the United States. The company accepts various deposits, including checking, savings, time, demand, and money market deposits, as well as certificates of deposit.
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