Empowered Funds LLC Buys 3,673 Shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Empowered Funds LLC boosted its stake in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) by 5.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,236 shares of the bank’s stock after purchasing an additional 3,673 shares during the period. Empowered Funds LLC owned about 0.39% of Orrstown Financial Services worth $2,791,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ORRF. CWM LLC raised its stake in Orrstown Financial Services by 31.0% during the 3rd quarter. CWM LLC now owns 2,217 shares of the bank’s stock valued at $80,000 after buying an additional 525 shares during the last quarter. R Squared Ltd bought a new stake in shares of Orrstown Financial Services in the fourth quarter worth $42,000. Segall Bryant & Hamill LLC increased its position in Orrstown Financial Services by 1.7% during the third quarter. Segall Bryant & Hamill LLC now owns 124,652 shares of the bank’s stock valued at $4,482,000 after acquiring an additional 2,143 shares during the last quarter. RKL Wealth Management LLC lifted its holdings in Orrstown Financial Services by 22.8% in the third quarter. RKL Wealth Management LLC now owns 12,286 shares of the bank’s stock valued at $442,000 after acquiring an additional 2,281 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in Orrstown Financial Services in the fourth quarter worth about $123,000. Hedge funds and other institutional investors own 44.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ORRF shares. Hovde Group downgraded Orrstown Financial Services from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 13th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $42.00 target price (down from $46.00) on shares of Orrstown Financial Services in a research report on Monday, February 3rd. Finally, Piper Sandler began coverage on shares of Orrstown Financial Services in a research report on Wednesday, January 8th. They issued an “overweight” rating and a $43.00 price target on the stock.

Orrstown Financial Services Stock Performance

Shares of ORRF opened at $33.90 on Friday. The business has a 50-day simple moving average of $36.32 and a two-hundred day simple moving average of $36.32. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.13. Orrstown Financial Services, Inc. has a 52 week low of $24.70 and a 52 week high of $41.99. The stock has a market cap of $657.32 million, a price-to-earnings ratio of 18.42 and a beta of 0.90.

Orrstown Financial Services (NASDAQ:ORRF) last released its earnings results 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%. On average, analysts expect that Orrstown Financial Services, Inc. will post 4.23 EPS for the current year.

Orrstown Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 14th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.07%. This is an increase from Orrstown Financial Services’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, February 14th. Orrstown Financial Services’s dividend payout ratio (DPR) is presently 50.00%.

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.