Orrstown Financial Services Inc $ORRF Shares Bought by UBS Group AG

UBS Group AG grew its stake in shares of Orrstown Financial Services Inc (NASDAQ:ORRF) by 99.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,329 shares of the bank’s stock after acquiring an additional 50,979 shares during the period. UBS Group AG’s holdings in Orrstown Financial Services were worth $3,624,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ORRF. Kennedy Capital Management LLC grew its holdings in Orrstown Financial Services by 569.5% during the 3rd quarter. Kennedy Capital Management LLC now owns 280,723 shares of the bank’s stock worth $9,539,000 after acquiring an additional 238,790 shares in the last quarter. Marshall Wace LLP acquired a new position in Orrstown Financial Services during the 2nd quarter worth $7,424,000. Millennium Management LLC grew its holdings in Orrstown Financial Services by 123.8% during the 1st quarter. Millennium Management LLC now owns 330,322 shares of the bank’s stock worth $9,913,000 after acquiring an additional 182,709 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Orrstown Financial Services by 10.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 765,332 shares of the bank’s stock worth $26,006,000 after acquiring an additional 72,373 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in Orrstown Financial Services by 468.4% during the 3rd quarter. First Trust Advisors LP now owns 71,038 shares of the bank’s stock worth $2,414,000 after acquiring an additional 58,540 shares in the last quarter. 44.27% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Brian D. Brunner acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The shares were purchased at an average cost of $34.02 per share, for a total transaction of $34,020.00. Following the transaction, the director directly owned 50,529 shares in the company, valued at $1,718,996.58. This trade represents a 2.02% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ORRF has been the subject of several recent analyst reports. DA Davidson initiated coverage on shares of Orrstown Financial Services in a report on Friday, May 15th. They set a “neutral” rating and a $41.00 price objective for the company. Weiss Ratings raised shares of Orrstown Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Finally, Hovde Group raised their price objective on shares of Orrstown Financial Services from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.67.

Orrstown Financial Services Trading Down 0.4%

Shares of NASDAQ:ORRF opened at $36.61 on Friday. The company has a market cap of $719.39 million, a PE ratio of 8.38 and a beta of 0.71. The company’s 50-day moving average price is $36.44 and its 200 day moving average price is $36.28. Orrstown Financial Services Inc has a fifty-two week low of $29.31 and a fifty-two week high of $40.72. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.06.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.08. The firm had revenue of $64.58 million for the quarter, compared to the consensus estimate of $63.20 million. Orrstown Financial Services had a net margin of 23.58% and a return on equity of 14.75%. Sell-side analysts anticipate that Orrstown Financial Services Inc will post 4.29 earnings per share for the current year.

Orrstown Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Investors of record on Tuesday, May 5th were given a $0.30 dividend. The ex-dividend date was Tuesday, May 5th. This represents a $1.20 annualized dividend and a yield of 3.3%. Orrstown Financial Services’s dividend payout ratio (DPR) is currently 27.46%.

About Orrstown Financial Services

Orrstown Financial Services, Inc is the bank holding company for Orrstown Bank, a community banking organization headquartered in Shippensburg, Pennsylvania. The roots of Orrstown Bank date back to 1865, and the holding company structure was established to support its growth and diversification. As a regional financial institution, Orrstown Financial Services focuses on delivering personalized banking solutions to individuals, families and businesses across Central Pennsylvania.

The company’s core offerings include a full suite of deposit products such as checking and savings accounts, money market accounts and certificates of deposit.