Susquehanna Fundamental Investments LLC Takes $332,000 Position in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Susquehanna Fundamental Investments LLC purchased a new position in Orrstown Financial Services, Inc. (NASDAQ:ORRF - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 9,070 shares of the bank's stock, valued at approximately $332,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. raised its holdings in Orrstown Financial Services by 36.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 55,297 shares of the bank's stock valued at $2,024,000 after acquiring an additional 14,894 shares in the last quarter. Barclays PLC lifted its position in Orrstown Financial Services by 120.4% in the third quarter. Barclays PLC now owns 33,721 shares of the bank's stock worth $1,212,000 after purchasing an additional 18,422 shares during the period. JPMorgan Chase & Co. increased its holdings in Orrstown Financial Services by 36.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 89,407 shares of the bank's stock valued at $3,215,000 after buying an additional 23,819 shares during the period. Principal Financial Group Inc. acquired a new position in shares of Orrstown Financial Services in the 3rd quarter valued at $478,000. Finally, Swiss National Bank bought a new position in shares of Orrstown Financial Services during the 4th quarter worth about $1,395,000. Institutional investors own 44.27% of the company's stock.

Orrstown Financial Services Trading Down 0.6 %

ORRF traded down $0.19 during trading on Friday, hitting $30.34. The company's stock had a trading volume of 19,858 shares, compared to its average volume of 117,775. The firm has a market capitalization of $591.78 million, a P/E ratio of 16.49 and a beta of 0.77. The stock's fifty day moving average price is $29.23 and its 200-day moving average price is $34.25. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.13. Orrstown Financial Services, Inc. has a twelve month low of $24.91 and a twelve month high of $41.99.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The bank reported $1.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.05. Orrstown Financial Services had a net margin of 7.70% and a return on equity of 15.77%. The business had revenue of $60.39 million during the quarter, compared to the consensus estimate of $51.83 million. During the same period in the prior year, the firm posted $0.88 EPS. Analysts anticipate that Orrstown Financial Services, Inc. will post 4.23 EPS for the current year.

Orrstown Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 13th. Shareholders of record on Tuesday, May 6th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $1.04 annualized dividend and a yield of 3.43%. Orrstown Financial Services's dividend payout ratio is currently 53.06%.

Insider Buying and Selling

In other Orrstown Financial Services news, Director Scott V. Fainor purchased 3,000 shares of the stock in a transaction on Monday, March 24th. The stock was acquired at an average cost of $31.17 per share, with a total value of $93,510.00. Following the completion of the purchase, the director now directly owns 13,396 shares of the company's stock, valued at approximately $417,553.32. This trade represents a 28.86 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brian D. Brunner bought 2,500 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were purchased at an average price of $30.87 per share, with a total value of $77,175.00. Following the completion of the acquisition, the director now owns 49,330 shares of the company's stock, valued at $1,522,817.10. This trade represents a 5.34 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 6,500 shares of company stock valued at $201,485. Company insiders own 4.70% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ORRF. Hovde Group raised shares of Orrstown Financial Services from a "market perform" rating to an "outperform" rating and set a $35.00 price target for the company in a research report on Wednesday, April 30th. Keefe, Bruyette & Woods reduced their target price on Orrstown Financial Services from $40.00 to $37.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Finally, Raymond James started coverage on shares of Orrstown Financial Services in a research report on Thursday, April 10th. They issued an "outperform" rating and a $35.00 price objective for the company. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Orrstown Financial Services currently has an average rating of "Buy" and an average target price of $36.40.

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.