Wilmington Savings Fund Society FSB Purchases Shares of 3,353 Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Wilmington Savings Fund Society FSB purchased a new position in Orrstown Financial Services, Inc. (NASDAQ:ORRF) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,353 shares of the bank’s stock, valued at approximately $123,000.

A number of other large investors have also modified their holdings of ORRF. CWM LLC boosted its stake in Orrstown Financial Services by 31.0% in the 3rd quarter. CWM LLC now owns 2,217 shares of the bank’s stock worth $80,000 after purchasing an additional 525 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Orrstown Financial Services during the fourth quarter worth $42,000. Segall Bryant & Hamill LLC lifted its stake in shares of Orrstown Financial Services by 1.7% during the third quarter. Segall Bryant & Hamill LLC now owns 124,652 shares of the bank’s stock worth $4,482,000 after buying an additional 2,143 shares during the period. RKL Wealth Management LLC grew its holdings in shares of Orrstown Financial Services by 22.8% during the third quarter. RKL Wealth Management LLC now owns 12,286 shares of the bank’s stock valued at $442,000 after buying an additional 2,281 shares during the last quarter. Finally, Jane Street Group LLC increased its position in shares of Orrstown Financial Services by 21.5% in the 3rd quarter. Jane Street Group LLC now owns 20,768 shares of the bank’s stock valued at $747,000 after acquiring an additional 3,680 shares during the period. Hedge funds and other institutional investors own 44.27% of the company’s stock.

Orrstown Financial Services Price Performance

Shares of ORRF opened at $33.90 on Friday. The business’s 50-day moving average is $36.32 and its two-hundred day moving average is $36.32. The company has a market capitalization of $657.32 million, a P/E ratio of 18.42 and a beta of 0.90. Orrstown Financial Services, Inc. has a fifty-two week low of $24.70 and a fifty-two week high of $41.99. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 0.88.

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

Orrstown Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 14th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.07%. This is a positive change 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 payout ratio is 50.00%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ORRF. Hovde Group cut Orrstown Financial Services from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 13th. Piper Sandler assumed coverage on Orrstown Financial Services in a report on Wednesday, January 8th. They set an “overweight” rating and a $43.00 target price for the company. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $42.00 price target (down previously from $46.00) on shares of Orrstown Financial Services in a report on Monday, February 3rd.

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.