Orrstown Financial Services, Inc. (NASDAQ:ORRF) Shares Bought by Northern Trust Corp

Northern Trust Corp boosted its holdings in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF - Free Report) by 6.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 159,868 shares of the bank's stock after buying an additional 10,096 shares during the quarter. Northern Trust Corp owned approximately 0.82% of Orrstown Financial Services worth $5,853,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Tudor Investment Corp ET AL purchased a new position in Orrstown Financial Services during the fourth quarter valued at approximately $1,457,000. Aquatic Capital Management LLC purchased a new position in Orrstown Financial Services during the fourth quarter valued at approximately $256,000. Susquehanna Fundamental Investments LLC purchased a new position in Orrstown Financial Services during the fourth quarter valued at approximately $332,000. Price T Rowe Associates Inc. MD increased its holdings in Orrstown Financial Services by 24.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,456 shares of the bank's stock valued at $273,000 after buying an additional 1,441 shares during the period. Finally, State of Tennessee Department of Treasury purchased a new position in Orrstown Financial Services during the fourth quarter valued at approximately $687,000. 44.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ORRF. 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. Hovde Group lifted their price target on shares of Orrstown Financial Services from $35.00 to $37.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. Finally, Keefe, Bruyette & Woods cut 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 report on Thursday, April 24th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Orrstown Financial Services has a consensus rating of "Buy" and a consensus target price of $36.80.

Insider Transactions at Orrstown Financial Services

In related news, Director Scott V. Fainor acquired 3,000 shares of the stock in a transaction dated 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 purchase, the director now owns 13,396 shares of the company's stock, valued at approximately $417,553.32. This represents a 28.86% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John W. Giambalvo acquired 1,000 shares of the stock in a transaction dated Monday, March 10th. The shares were bought at an average price of $30.80 per share, with a total value of $30,800.00. Following the completion of the purchase, the director now directly owns 40,562 shares of the company's stock, valued at approximately $1,249,309.60. This trade represents a 2.53% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 6,500 shares of company stock worth $201,485. Company insiders own 4.70% of the company's stock.

Orrstown Financial Services Stock Down 0.5%

NASDAQ ORRF traded down $0.15 on Friday, hitting $29.62. The stock had a trading volume of 75,416 shares, compared to its average volume of 119,312. The business's fifty day moving average price is $29.13 and its 200 day moving average price is $33.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.88 and a quick ratio of 0.88. Orrstown Financial Services, Inc. has a 52-week low of $24.91 and a 52-week high of $41.99. The stock has a market cap of $577.83 million, a price-to-earnings ratio of 16.10 and a beta of 0.77.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The bank reported $1.00 EPS for the quarter, topping the consensus estimate 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 previous year, the firm posted $0.88 earnings per share. Equities research analysts anticipate that Orrstown Financial Services, Inc. will post 4.23 earnings per share for the current year.

Orrstown Financial Services Announces Dividend

The business also recently disclosed 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 of this dividend was Tuesday, May 6th. This represents a $1.04 annualized dividend and a dividend yield of 3.51%. Orrstown Financial Services's payout ratio is currently 53.06%.

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.