Orrstown Financial Services Inc $ORRF Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its holdings in shares of Orrstown Financial Services Inc (NASDAQ:ORRF) by 2.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,119 shares of the bank’s stock after selling 1,069 shares during the quarter. Wellington Management Group LLP owned about 0.23% of Orrstown Financial Services worth $1,324,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Orrstown Financial Services by 0.6% during the first quarter. Vanguard Group Inc. now owns 1,049,610 shares of the bank’s stock worth $31,499,000 after buying an additional 6,744 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Orrstown Financial Services by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 833,950 shares of the bank’s stock worth $30,531,000 after buying an additional 2,872 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Orrstown Financial Services by 6.7% during the fourth quarter. Northern Trust Corp now owns 159,868 shares of the bank’s stock worth $5,853,000 after buying an additional 10,096 shares in the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of Orrstown Financial Services by 0.7% during the fourth quarter. Bridgeway Capital Management LLC now owns 157,379 shares of the bank’s stock worth $5,762,000 after buying an additional 1,083 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Orrstown Financial Services during the fourth quarter worth $5,404,000. Hedge funds and other institutional investors own 44.27% of the company’s stock.

Orrstown Financial Services Trading Up 0.1%

Shares of ORRF opened at $34.85 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.13. Orrstown Financial Services Inc has a 12-month low of $25.57 and a 12-month high of $41.99. The firm has a 50-day moving average price of $33.33 and a 200 day moving average price of $31.25. The firm has a market capitalization of $679.23 million, a P/E ratio of 15.56 and a beta of 0.86.

Orrstown Financial Services (NASDAQ:ORRF) last announced its earnings results on Tuesday, July 22nd. The bank reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.05. The company had revenue of $62.43 million during the quarter, compared to analyst estimates of $51.98 million. Orrstown Financial Services had a net margin of 11.97% and a return on equity of 14.69%. Sell-side analysts forecast that Orrstown Financial Services Inc will post 4.23 EPS for the current year.

Orrstown Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.1%. This is a boost from Orrstown Financial Services’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Tuesday, August 5th. Orrstown Financial Services’s payout ratio is 48.21%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ORRF shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $42.00 target price (up previously from $39.00) on shares of Orrstown Financial Services in a report on Thursday, July 24th. Wall Street Zen lowered shares of Orrstown Financial Services from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. Finally, Hovde Group upped their price objective 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. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Orrstown Financial Services presently has an average rating of “Buy” and an average target price of $39.25.

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.