BNP Paribas Financial Markets Acquires 4,502 Shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF)

BNP Paribas Financial Markets boosted its position in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) by 64.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,537 shares of the bank’s stock after purchasing an additional 4,502 shares during the period. BNP Paribas Financial Markets owned about 0.06% of Orrstown Financial Services worth $422,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Summit Investment Advisors Inc. raised its holdings in Orrstown Financial Services by 21.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,942 shares of the bank’s stock worth $71,000 after purchasing an additional 349 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of Orrstown Financial Services by 4.9% in the fourth quarter. Sterling Capital Management LLC now owns 11,258 shares of the bank’s stock valued at $412,000 after buying an additional 524 shares during the period. American Century Companies Inc. raised its stake in shares of Orrstown Financial Services by 0.3% in the 4th quarter. American Century Companies Inc. now owns 228,067 shares of the bank’s stock valued at $8,350,000 after purchasing an additional 755 shares during the period. Comprehensive Financial Planning Inc. PA bought a new stake in Orrstown Financial Services in the 4th quarter valued at approximately $38,000. Finally, R Squared Ltd acquired a new position in Orrstown Financial Services during the fourth quarter worth $42,000. Institutional investors own 44.27% of the company’s stock.

Wall Street Analyst Weigh In

ORRF has been the topic of several recent analyst reports. Hovde Group boosted their price target on Orrstown Financial Services from $35.00 to $37.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 14th. Raymond James initiated coverage on Orrstown Financial Services in a report on Thursday, April 10th. They issued an “outperform” rating and a $35.00 price objective on the stock. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Orrstown Financial Services from $40.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $36.80.

Insider Activity at Orrstown Financial Services

In related news, Director John W. Giambalvo acquired 1,000 shares of Orrstown Financial Services stock in a transaction dated Monday, March 10th. The stock was bought 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 $1,249,309.60. This represents a 2.53% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Brian D. Brunner acquired 2,500 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were bought at an average price 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 approximately $1,522,817.10. This trade represents a 5.34% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 6,500 shares of company stock worth $201,485 over the last ninety days. Insiders own 4.70% of the company’s stock.

Orrstown Financial Services Price Performance

Orrstown Financial Services stock opened at $29.62 on Monday. The stock has a market capitalization of $577.83 million, a P/E ratio of 16.10 and a beta of 0.77. 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 52 week low of $24.91 and a 52 week high of $41.99. The stock has a fifty day moving average of $29.13 and a 200-day moving average of $33.64.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings data on Tuesday, April 22nd. The bank reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.05. Orrstown Financial Services had a return on equity of 15.77% and a net margin of 7.70%. The company had revenue of $60.39 million for the quarter, compared to the consensus estimate of $51.83 million. During the same quarter last year, the business posted $0.88 EPS. On average, sell-side analysts expect that Orrstown Financial Services, Inc. will post 4.23 earnings per share for the current fiscal year.

Orrstown Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 13th. Shareholders of record on Tuesday, May 6th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.51%. The ex-dividend date was Tuesday, May 6th. Orrstown Financial Services’s payout ratio is presently 53.06%.

Orrstown Financial Services 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.