38,100 Shares in Orrstown Financial Services, Inc. (NASDAQ:ORRF) Acquired by Swiss National Bank

Swiss National Bank acquired a new stake in Orrstown Financial Services, Inc. (NASDAQ:ORRF) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 38,100 shares of the bank’s stock, valued at approximately $1,395,000. Swiss National Bank owned approximately 0.20% of Orrstown Financial Services as of its most recent SEC filing.

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

Orrstown Financial Services Stock Performance

ORRF stock opened at $30.00 on Friday. The firm has a market cap of $581.58 million, a P/E ratio of 16.30 and a beta of 0.87. Orrstown Financial Services, Inc. has a 12-month low of $24.70 and a 12-month high of $41.99. The stock’s 50 day simple moving average is $33.20 and its 200 day simple moving average is $35.83. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings results on Friday, January 31st. The bank reported $0.87 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%. As a group, equities research analysts predict that Orrstown Financial Services, Inc. will post 4.23 EPS for the current year.

Orrstown Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were paid a dividend of $0.26 per share. This is a positive change from Orrstown Financial Services’s previous quarterly dividend of $0.23. This represents a $1.04 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date was Friday, February 14th. Orrstown Financial Services’s dividend payout ratio (DPR) is presently 56.52%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ORRF shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $42.00 target price (down from $46.00) on shares of Orrstown Financial Services in a research report on Monday, February 3rd. Piper Sandler started coverage on shares of Orrstown Financial Services in a report on Wednesday, January 8th. They issued an “overweight” rating and a $43.00 price target on the stock.

Insider Activity

In other news, Director Brian D. Brunner acquired 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was purchased at an average price of $30.87 per share, with a total value of $77,175.00. Following the purchase, the director now owns 49,330 shares of the company’s stock, valued at approximately $1,522,817.10. This trade represents a 5.34 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John W. Giambalvo acquired 1,000 shares of Orrstown Financial Services stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average cost of $30.80 per share, with a total value of $30,800.00. Following the completion of the purchase, the director now owns 40,562 shares in the company, valued at approximately $1,249,309.60. This represents a 2.53 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 6,800 shares of company stock worth $211,892. Corporate insiders own 5.30% of the company’s stock.

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.