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

PL Capital Advisors LLC raised its stake in Orrstown Financial Services, Inc. (NASDAQ:ORRF) by 3,561.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,356,073 shares of the bank’s stock after purchasing an additional 2,291,717 shares during the period. Orrstown Financial Services accounts for about 1.0% of PL Capital Advisors LLC’s holdings, making the stock its 15th biggest position. PL Capital Advisors LLC owned 12.15% of Orrstown Financial Services worth $86,256,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Orrstown Financial Services in the 4th quarter valued at $38,000. R Squared Ltd purchased a new position in shares of Orrstown Financial Services during the fourth quarter worth about $42,000. Stonebridge Financial Group LLC acquired a new stake in shares of Orrstown Financial Services during the fourth quarter worth about $92,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Orrstown Financial Services in the 4th quarter valued at about $123,000. Finally, Quest Partners LLC acquired a new stake in shares of Orrstown Financial Services in the 3rd quarter valued at about $155,000. Institutional investors and hedge funds own 44.27% of the company’s stock.

Analyst Upgrades and Downgrades

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

Orrstown Financial Services Trading Up 0.9 %

Shares of ORRF stock opened at $33.20 on Wednesday. The company has a market capitalization of $643.62 million, a P/E ratio of 18.04 and a beta of 0.90. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $35.31 and its two-hundred day moving average is $36.35. Orrstown Financial Services, Inc. has a twelve month low of $24.70 and a twelve month high of $41.99.

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

Orrstown Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 14th were issued 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 dividend yield of 3.13%. Orrstown Financial Services’s payout ratio is presently 56.52%.

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.