UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires Shares of 22,753 Orrstown Financial Services, Inc. (NASDAQ:ORRF)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Orrstown Financial Services, Inc. (NASDAQ:ORRF - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 22,753 shares of the bank's stock, valued at approximately $833,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.12% of Orrstown Financial Services as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in shares of Orrstown Financial Services during the 4th quarter valued at about $123,000. Empowered Funds LLC increased its position in shares of Orrstown Financial Services by 5.1% during the 4th quarter. Empowered Funds LLC now owns 76,236 shares of the bank's stock valued at $2,791,000 after purchasing an additional 3,673 shares during the last quarter. Savant Capital LLC bought a new position in shares of Orrstown Financial Services during the 4th quarter valued at about $373,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Orrstown Financial Services during the 4th quarter valued at about $38,000. Finally, Stonebridge Financial Group LLC bought a new position in shares of Orrstown Financial Services during the 4th quarter valued at about $92,000. 44.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Raymond James assumed coverage on Orrstown Financial Services in a research report on Thursday, April 10th. They set an "outperform" rating and a $35.00 price objective on the stock. Hovde Group increased their price objective on Orrstown Financial Services from $35.00 to $37.00 and gave the company an "outperform" rating in a research report on Wednesday, May 14th. Finally, Keefe, Bruyette & Woods reduced their price objective on Orrstown Financial Services from $40.00 to $37.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $36.80.

Orrstown Financial Services Trading Down 2.4%

ORRF traded down $0.75 on Friday, hitting $30.23. 125,817 shares of the company were exchanged, compared to its average volume of 126,950. The firm has a fifty day simple moving average of $29.38 and a two-hundred day simple moving average of $32.65. 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, Inc. has a 12 month low of $25.06 and a 12 month high of $41.99. The stock has a market capitalization of $589.73 million, a PE ratio of 16.43 and a beta of 0.79.

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

Orrstown Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 13th. Stockholders of record on Tuesday, May 6th were given a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.44%. Orrstown Financial Services's dividend payout ratio is currently 53.06%.

Insider Transactions at Orrstown Financial Services

In other news, Director Scott V. Fainor bought 3,000 shares of the stock in a transaction dated Monday, March 24th. The stock was bought at an average price of $31.17 per share, for a total transaction of $93,510.00. Following the purchase, the director now directly owns 13,396 shares in the company, valued at $417,553.32. This trade represents a 28.86% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian D. Brunner bought 2,500 shares of the stock in a transaction dated 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 in the company, valued at $1,522,817.10. This trade represents a 5.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 4.70% 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.