Vanguard Group Inc. Boosts Position in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Vanguard Group Inc. grew its holdings in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,042,866 shares of the bank’s stock after buying an additional 61,081 shares during the quarter. Vanguard Group Inc. owned 5.38% of Orrstown Financial Services worth $38,179,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ORRF. Comprehensive Financial Planning Inc. PA purchased a new stake in Orrstown Financial Services during the 4th quarter worth $38,000. R Squared Ltd acquired a new stake in shares of Orrstown Financial Services in the fourth quarter valued at about $42,000. VSM Wealth Advisory LLC purchased a new stake in shares of Orrstown Financial Services during the 4th quarter valued at about $47,000. Stonebridge Financial Group LLC acquired a new position in Orrstown Financial Services during the 4th quarter worth approximately $92,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Orrstown Financial Services in the fourth quarter valued at $123,000. Institutional investors and hedge funds own 44.27% of the company’s stock.

Analyst Upgrades and Downgrades

ORRF has been the topic of a number of recent analyst reports. Piper Sandler began coverage on shares of Orrstown Financial Services in a report on Wednesday, January 8th. They issued an “overweight” rating and a $43.00 price objective on the stock. Raymond James began coverage on Orrstown Financial Services in a report on Thursday. They issued an “outperform” rating and a $35.00 price target for the company. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $42.00 price objective (down previously from $46.00) on shares of Orrstown Financial Services in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Orrstown Financial Services presently has a consensus rating of “Moderate Buy” and an average target price of $38.80.

Insider Buying and Selling

In other Orrstown Financial Services news, Director John W. Giambalvo acquired 1,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average price of $30.80 per share, with a total value of $30,800.00. Following the transaction, the director now directly owns 40,562 shares in the company, valued at approximately $1,249,309.60. This represents a 2.53 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian D. Brunner bought 2,500 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was acquired at an average cost of $30.87 per share, for a total transaction of $77,175.00. Following the acquisition, the director now directly owns 49,330 shares of the company’s stock, valued at $1,522,817.10. The trade was a 5.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 6,800 shares of company stock worth $211,892 over the last ninety days. 5.30% of the stock is owned by insiders.

Orrstown Financial Services Price Performance

ORRF opened at $26.16 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 0.88. Orrstown Financial Services, Inc. has a 1-year low of $24.70 and a 1-year high of $41.99. The company has a 50-day moving average of $31.17 and a 200-day moving average of $35.18. The company has a market capitalization of $510.25 million, a P/E ratio of 14.22 and a beta of 0.78.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings data on Friday, January 31st. The bank reported $0.87 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.17). Orrstown Financial Services had a net margin of 7.70% and a return on equity of 15.77%. Equities analysts expect that Orrstown Financial Services, Inc. will post 4.23 EPS for the current fiscal year.

Orrstown Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 14th were given a dividend of $0.26 per share. This is a positive change from Orrstown Financial Services’s previous quarterly dividend of $0.23. This represents a $1.04 annualized dividend and a dividend yield of 3.98%. The ex-dividend date was Friday, February 14th. Orrstown Financial Services’s dividend payout ratio is currently 56.52%.

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.