SG Americas Securities LLC Raises Stock Position in Orrstown Financial Services Inc (NASDAQ:ORRF)

SG Americas Securities LLC grew its holdings in Orrstown Financial Services Inc (NASDAQ:ORRF) by 198.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,399 shares of the bank’s stock after acquiring an additional 16,232 shares during the period. SG Americas Securities LLC owned about 0.13% of Orrstown Financial Services worth $732,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. VSM Wealth Advisory LLC purchased a new stake in Orrstown Financial Services during the 4th quarter worth $47,000. Summit Investment Advisors Inc. increased its stake 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 buying an additional 349 shares during the period. Quantbot Technologies LP purchased a new stake in Orrstown Financial Services during the 4th quarter worth $127,000. KLP Kapitalforvaltning AS purchased a new stake in Orrstown Financial Services during the 4th quarter worth $132,000. Finally, GAMMA Investing LLC increased its stake in Orrstown Financial Services by 3,994.9% during the 1st quarter. GAMMA Investing LLC now owns 4,832 shares of the bank’s stock worth $161,000 after buying an additional 4,714 shares during the period. Hedge funds and other institutional investors own 44.27% of the company’s stock.

Orrstown Financial Services Stock Performance

ORRF stock opened at $29.85 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $582.37 million, a price-to-earnings ratio of 15.23 and a beta of 0.79. Orrstown Financial Services Inc has a 12 month low of $25.10 and a 12 month high of $41.99. The firm has a 50 day moving average of $29.68 and a two-hundred day moving average of $32.36.

Orrstown Financial Services (NASDAQ:ORRF) last released its earnings results on Tuesday, April 22nd. The bank reported $1.00 EPS for the quarter, beating the consensus estimate of $0.95 by $0.05. Orrstown Financial Services had a net margin of 9.74% and a return on equity of 14.35%. The firm had revenue of $60.39 million during the quarter, compared to analysts’ expectations of $51.83 million. During the same period in the prior year, the company earned $0.88 EPS. As a group, equities analysts anticipate that Orrstown Financial Services Inc will post 4.23 EPS for the current fiscal year.

Orrstown Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 13th. Investors of record on Tuesday, May 6th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Tuesday, May 6th. Orrstown Financial Services’s dividend payout ratio (DPR) is currently 53.06%.

Insiders Place Their Bets

In other Orrstown Financial Services news, Director Scott V. Fainor bought 3,000 shares of Orrstown Financial Services stock in a transaction dated Monday, March 24th. The shares were bought at an average price of $31.17 per share, with a total value of $93,510.00. Following the purchase, the director now owns 13,396 shares of the company’s stock, valued at $417,553.32. This trade represents a 28.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 4.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ORRF shares. Raymond James Financial started coverage on shares of Orrstown Financial Services in a report on Thursday, April 10th. They issued an “outperform” rating and a $35.00 price target for the company. Hovde Group lifted their price target on shares of Orrstown Financial Services from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Wednesday, May 14th. Finally, Keefe, Bruyette & Woods decreased 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 report on Thursday, April 24th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Orrstown Financial Services presently has a consensus rating of “Buy” and an average target price of $36.80.

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.