UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Makes New Investment in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Orrstown Financial Services, Inc. (NASDAQ:ORRF - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 approximately 0.12% of Orrstown Financial Services at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Comprehensive Financial Planning Inc. PA acquired a new stake in Orrstown Financial Services during the fourth quarter valued at approximately $38,000. VSM Wealth Advisory LLC acquired a new stake in Orrstown Financial Services in the 4th quarter valued at $47,000. Summit Investment Advisors Inc. boosted its stake in Orrstown Financial Services by 21.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,942 shares of the bank's stock valued at $71,000 after buying an additional 349 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in Orrstown Financial Services in the fourth quarter valued at $92,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Orrstown Financial Services during the fourth quarter worth $123,000. 44.27% of the stock is owned by institutional investors.

Orrstown Financial Services Price Performance

ORRF traded down $0.07 during trading on Thursday, hitting $30.90. The company's stock had a trading volume of 16,844 shares, compared to its average volume of 125,500. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $602.80 million, a price-to-earnings ratio of 16.79 and a beta of 0.79. The firm's 50 day moving average price is $29.22 and its two-hundred day moving average price is $32.83. Orrstown Financial Services, Inc. has a 12 month low of $25.06 and a 12 month high of $41.99.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The bank reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.05. The company had revenue of $60.39 million during 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 posted $0.88 earnings per share. Sell-side analysts forecast that Orrstown Financial Services, Inc. will post 4.23 earnings per share for the current fiscal year.

Orrstown Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 13th. Shareholders of record on Tuesday, May 6th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend was Tuesday, May 6th. Orrstown Financial Services's dividend payout ratio is presently 53.06%.

Insider Transactions at Orrstown Financial Services

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ORRF. Raymond James initiated coverage on Orrstown Financial Services in a report on Thursday, April 10th. They set an "outperform" rating and a $35.00 price objective for the company. Hovde Group increased their target price on shares of Orrstown Financial Services from $35.00 to $37.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of 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 analysts have rated the stock with a buy rating, According to data from MarketBeat, Orrstown Financial Services presently has a consensus rating of "Buy" and an average target price of $36.80.

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.