Quantbot Technologies LP Acquires New Shares in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Quantbot Technologies LP bought a new position in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,478 shares of the bank’s stock, valued at approximately $127,000.

Other large investors also recently bought and sold shares of the company. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Orrstown Financial Services in the 4th quarter worth about $38,000. R Squared Ltd purchased a new stake in shares of Orrstown Financial Services in the fourth quarter valued at about $42,000. Principal Financial Group Inc. grew its position in shares of Orrstown Financial Services by 9.4% in the fourth quarter. Principal Financial Group Inc. now owns 14,535 shares of the bank’s stock valued at $532,000 after purchasing an additional 1,245 shares during the last quarter. VSM Wealth Advisory LLC purchased a new position in shares of Orrstown Financial Services during the 4th quarter worth approximately $47,000. Finally, Stonebridge Financial Group LLC acquired a new position in shares of Orrstown Financial Services during the 4th quarter worth approximately $92,000. Institutional investors and hedge funds own 44.27% of the company’s stock.

Insider Transactions at Orrstown Financial Services

In other Orrstown Financial Services news, Director Brian D. Brunner purchased 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were acquired at an average price of $30.87 per share, for a total transaction of $77,175.00. Following the completion of the purchase, the director now owns 49,330 shares in the company, valued at $1,522,817.10. The trade was a 5.34 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Scott V. Fainor bought 3,000 shares of Orrstown Financial Services stock in a transaction dated Monday, March 24th. The shares were acquired at an average price of $31.17 per share, with a total value of $93,510.00. Following the completion of the purchase, the director now owns 13,396 shares in the company, valued at approximately $417,553.32. The trade was a 28.86 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 6,800 shares of company stock valued at $211,892 over the last 90 days. Corporate insiders own 5.30% of the company’s stock.

Orrstown Financial Services Price Performance

ORRF opened at $30.00 on Monday. Orrstown Financial Services, Inc. has a 1 year low of $24.70 and a 1 year high of $41.99. The company’s 50 day simple moving average is $33.20 and its 200 day simple moving average is $35.85. The stock has a market capitalization of $581.58 million, a PE ratio of 16.30 and a beta of 0.87. 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 released its quarterly earnings data 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%. As a group, sell-side analysts expect that Orrstown Financial Services, Inc. will post 4.23 EPS for the current year.

Orrstown Financial Services Increases Dividend

The firm also recently disclosed 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 an increase from Orrstown Financial Services’s previous quarterly dividend of $0.23. This represents a $1.04 annualized dividend and a yield of 3.47%. The ex-dividend date was Friday, February 14th. Orrstown Financial Services’s payout ratio is currently 56.52%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $42.00 price target (down previously from $46.00) on shares of Orrstown Financial Services in a research report on Monday, February 3rd. Piper Sandler initiated coverage on shares of Orrstown Financial Services in a research note on Wednesday, January 8th. They issued an “overweight” rating and a $43.00 target price for the company.

Orrstown Financial Services 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.