Orrstown Financial Services, Inc. (NASDAQ:ORRF) Shares Purchased by PL Capital Advisors LLC

PL Capital Advisors LLC raised its holdings in Orrstown Financial Services, Inc. (NASDAQ:ORRF) by 3,561.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,356,073 shares of the bank’s stock after buying an additional 2,291,717 shares during the quarter. Orrstown Financial Services makes up 1.0% of PL Capital Advisors LLC’s investment portfolio, making the stock its 15th largest position. PL Capital Advisors LLC owned about 0.12% of Orrstown Financial Services worth $86,256,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Orrstown Financial Services in the 4th quarter valued at about $38,000. R Squared Ltd purchased a new stake in Orrstown Financial Services during the fourth quarter worth about $42,000. Stonebridge Financial Group LLC acquired a new position in Orrstown Financial Services during the fourth quarter worth about $92,000. Wilmington Savings Fund Society FSB purchased a new position in Orrstown Financial Services in the fourth quarter valued at about $123,000. Finally, Quest Partners LLC acquired a new stake in shares of Orrstown Financial Services during the 3rd quarter valued at approximately $155,000. 44.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ORRF. Keefe, Bruyette & Woods restated 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. Hovde Group lowered Orrstown Financial Services from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 13th. Finally, Piper Sandler initiated coverage on Orrstown Financial Services in a research report on Wednesday, January 8th. They issued an “overweight” rating and a $43.00 price target for the company.

Orrstown Financial Services Trading Up 0.9 %

Shares of ORRF opened at $33.20 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.88 and a quick ratio of 0.88. Orrstown Financial Services, Inc. has a 1-year low of $24.70 and a 1-year high of $41.99. The stock has a market cap of $643.62 million, a price-to-earnings ratio of 18.04 and a beta of 0.90. The firm has a 50 day simple moving average of $35.31 and a 200-day simple moving average of $36.35.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings results on Friday, January 31st. The bank reported $0.87 earnings per share 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%. Equities analysts forecast that Orrstown Financial Services, Inc. will post 4.23 EPS for the current fiscal year.

Orrstown Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 14th were paid a $0.26 dividend. This is an increase from Orrstown Financial Services’s previous quarterly dividend of $0.23. The ex-dividend date was Friday, February 14th. This represents a $1.04 annualized dividend and a yield of 3.13%. Orrstown Financial Services’s payout ratio is presently 56.52%.

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.