Orrstown Financial Services, Inc. (NASDAQ:ORRF) Stock Holdings Boosted by Janus Henderson Group PLC

Janus Henderson Group PLC lifted its position in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF - Free Report) by 116.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,191 shares of the bank's stock after buying an additional 10,860 shares during the quarter. Janus Henderson Group PLC owned approximately 0.10% of Orrstown Financial Services worth $740,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. PL Capital Advisors LLC boosted its holdings in shares of Orrstown Financial Services by 3,561.0% in the 4th quarter. PL Capital Advisors LLC now owns 2,356,073 shares of the bank's stock valued at $86,256,000 after purchasing an additional 2,291,717 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Orrstown Financial Services by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 1,042,866 shares of the bank's stock worth $38,179,000 after buying an additional 61,081 shares during the period. JPMorgan Chase & Co. boosted its holdings in Orrstown Financial Services by 55.6% in the fourth quarter. JPMorgan Chase & Co. now owns 139,081 shares of the bank's stock valued at $5,092,000 after acquiring an additional 49,674 shares during the last quarter. Barclays PLC grew its position in Orrstown Financial Services by 119.2% during the fourth quarter. Barclays PLC now owns 73,922 shares of the bank's stock valued at $2,707,000 after acquiring an additional 40,201 shares during the period. Finally, Tudor Investment Corp ET AL purchased a new stake in Orrstown Financial Services during the fourth quarter valued at about $1,457,000. Institutional investors and hedge funds own 44.27% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Hovde Group raised their price objective on Orrstown Financial Services from $35.00 to $37.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. Raymond James began coverage on shares of Orrstown Financial Services in a report on Thursday, April 10th. They issued an "outperform" rating and a $35.00 price target on the stock. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Orrstown Financial Services from $40.00 to $37.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $36.80.

Orrstown Financial Services Stock Up 0.4%

Shares of NASDAQ ORRF traded up $0.13 on Thursday, hitting $29.93. The company had a trading volume of 93,569 shares, compared to its average volume of 120,161. 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 12-month low of $24.91 and a 12-month high of $41.99. The firm has a market capitalization of $583.87 million, a P/E ratio of 16.27 and a beta of 0.77. The business has a 50 day moving average of $29.05 and a two-hundred day moving average of $33.44.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The bank reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.05. Orrstown Financial Services had a return on equity of 15.77% and a net margin of 7.70%. The firm had revenue of $60.39 million during the quarter, compared to analysts' expectations of $51.83 million. During the same quarter in the prior year, the business earned $0.88 EPS. As a group, equities research 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, May 13th. Stockholders of record on Tuesday, May 6th were paid a dividend of $0.26 per share. The ex-dividend date was Tuesday, May 6th. This represents a $1.04 annualized dividend and a dividend yield of 3.47%. Orrstown Financial Services's dividend payout ratio is presently 53.06%.

Insider Transactions at Orrstown Financial Services

In other Orrstown Financial Services news, Director John W. Giambalvo acquired 1,000 shares of the stock in a transaction on Monday, March 10th. The stock was purchased at an average price of $30.80 per share, for a total transaction of $30,800.00. Following the purchase, the director now directly owns 40,562 shares in the company, valued at $1,249,309.60. This trade represents a 2.53% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Scott V. Fainor bought 3,000 shares of the business's stock in a transaction on Monday, March 24th. The stock was acquired at an average cost of $31.17 per share, for a total transaction of $93,510.00. Following the completion of the transaction, the director now owns 13,396 shares in the company, valued at $417,553.32. This represents a 28.86% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 6,500 shares of company stock valued at $201,485. 4.70% of the stock is currently owned by insiders.

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.