22,753 Shares in Orrstown Financial Services, Inc. (NASDAQ:ORRF) Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Orrstown Financial Services, Inc. (NASDAQ:ORRF) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 22,753 shares of the bank’s stock, valued at approximately $833,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.12% of Orrstown Financial Services at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Squarepoint Ops LLC lifted its stake in Orrstown Financial Services by 266.1% in the fourth quarter. Squarepoint Ops LLC now owns 27,112 shares of the bank’s stock valued at $993,000 after acquiring an additional 19,706 shares during the last quarter. Millennium Management LLC acquired a new stake in Orrstown Financial Services in the fourth quarter valued at $5,404,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Orrstown Financial Services by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,519 shares of the bank’s stock valued at $385,000 after acquiring an additional 456 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Orrstown Financial Services by 116.4% in the fourth quarter. Janus Henderson Group PLC now owns 20,191 shares of the bank’s stock valued at $740,000 after acquiring an additional 10,860 shares during the last quarter. Finally, Deutsche Bank AG raised its position in shares of Orrstown Financial Services by 40.9% in the fourth quarter. Deutsche Bank AG now owns 14,985 shares of the bank’s stock valued at $549,000 after purchasing an additional 4,347 shares during the period. Institutional investors and hedge funds own 44.27% of the company’s stock.

Orrstown Financial Services Price Performance

Shares of Orrstown Financial Services stock opened at $31.20 on Wednesday. Orrstown Financial Services, Inc. has a twelve month low of $24.91 and a twelve month high of $41.99. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.13. The company has a 50-day simple moving average of $29.13 and a two-hundred day simple moving average of $32.84. The stock has a market capitalization of $608.65 million, a price-to-earnings ratio of 16.96 and a beta of 0.79.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings data on Tuesday, April 22nd. The bank reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.05. Orrstown Financial Services had a net margin of 7.70% and a return on equity of 15.77%. The business had revenue of $60.39 million during the quarter, compared to analysts’ expectations of $51.83 million. During the same quarter in the previous year, the company earned $0.88 EPS. Analysts forecast that Orrstown Financial Services, Inc. will post 4.23 EPS for the current year.

Orrstown Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 13th. Shareholders of record on Tuesday, May 6th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.33%. The ex-dividend date was Tuesday, May 6th. Orrstown Financial Services’s dividend payout ratio (DPR) is 53.06%.

Insiders Place Their Bets

In other news, Director Scott V. Fainor bought 3,000 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were purchased at an average cost of $31.17 per share, with a total value of $93,510.00. Following the acquisition, the director now directly owns 13,396 shares in the company, valued at $417,553.32. This represents a 28.86% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian D. Brunner bought 2,500 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was purchased at an average cost of $30.87 per share, for a total transaction of $77,175.00. Following the completion of the acquisition, the director now owns 49,330 shares in the company, valued at approximately $1,522,817.10. This trade represents a 5.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 4.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ORRF. Raymond James began coverage on shares of Orrstown Financial Services in a research report on Thursday, April 10th. They issued an “outperform” rating and a $35.00 price objective on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of Orrstown Financial Services from $40.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Finally, Hovde Group increased their price objective on shares of Orrstown Financial Services from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Wednesday, May 14th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Orrstown Financial Services has an average rating of “Buy” and a consensus target price of $36.80.

About Orrstown Financial Services

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.