Stonebridge Financial Group LLC Invests $92,000 in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Stonebridge Financial Group LLC bought a new position in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,510 shares of the bank’s stock, valued at approximately $92,000.

Other large investors have also recently bought and sold shares of the company. Barclays PLC boosted its position in shares of Orrstown Financial Services by 120.4% during the 3rd quarter. Barclays PLC now owns 33,721 shares of the bank’s stock worth $1,212,000 after acquiring an additional 18,422 shares in the last quarter. Empowered Funds LLC lifted its stake in Orrstown Financial Services by 206.0% during the third quarter. Empowered Funds LLC now owns 72,563 shares of the bank’s stock worth $2,609,000 after purchasing an additional 48,851 shares during the last quarter. Principal Financial Group Inc. acquired a new position in Orrstown Financial Services in the third quarter valued at approximately $478,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Orrstown Financial Services by 110.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,387 shares of the bank’s stock valued at $1,596,000 after purchasing an additional 23,333 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Orrstown Financial Services by 503.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 158,029 shares of the bank’s stock valued at $5,683,000 after purchasing an additional 131,845 shares during the last quarter. Hedge funds and other institutional investors own 44.27% of the company’s stock.

Orrstown Financial Services Price Performance

ORRF stock opened at $33.88 on Thursday. The business has a 50 day simple moving average of $36.32 and a 200-day simple moving average of $36.32. The company has a market capitalization of $656.93 million, a P/E ratio of 18.41 and a beta of 0.90. Orrstown Financial Services, Inc. has a twelve month low of $24.70 and a twelve month high of $41.99. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13.

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

Orrstown Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 14th will be issued a dividend of $0.26 per share. The ex-dividend date is Friday, February 14th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.07%. This is a positive change from Orrstown Financial Services’s previous quarterly dividend of $0.23. Orrstown Financial Services’s dividend payout ratio (DPR) is currently 50.00%.

Wall Street Analysts Forecast Growth

ORRF has been the subject of several research analyst reports. Hovde Group cut shares of Orrstown Financial Services from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 13th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $42.00 price target (down from $46.00) on shares of Orrstown Financial Services in a research report on Monday, February 3rd. Finally, Piper Sandler initiated coverage on Orrstown Financial Services in a report on Wednesday, January 8th. They set an “overweight” rating and a $43.00 price objective on the stock.

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.