Orrstown Financial Services, Inc. (NASDAQ:ORRF) Shares Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC grew its stake in Orrstown Financial Services, Inc. (NASDAQ:ORRF - Free Report) by 266.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 27,112 shares of the bank's stock after buying an additional 19,706 shares during the quarter. Squarepoint Ops LLC owned 0.14% of Orrstown Financial Services worth $993,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Millennium Management LLC acquired a new stake in Orrstown Financial Services in the fourth quarter valued at $5,404,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Orrstown Financial Services by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,519 shares of the bank's stock valued at $385,000 after acquiring an additional 456 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Orrstown Financial Services by 116.4% during the 4th quarter. Janus Henderson Group PLC now owns 20,191 shares of the bank's stock worth $740,000 after acquiring an additional 10,860 shares in the last quarter. Deutsche Bank AG lifted its stake in Orrstown Financial Services by 40.9% during the fourth quarter. Deutsche Bank AG now owns 14,985 shares of the bank's stock worth $549,000 after purchasing an additional 4,347 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in Orrstown Financial Services by 89.7% in the fourth quarter. Cubist Systematic Strategies LLC now owns 29,541 shares of the bank's stock valued at $1,081,000 after purchasing an additional 13,971 shares in the last quarter. Hedge funds and other institutional investors own 44.27% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ORRF shares. Raymond James began coverage on shares of Orrstown Financial Services in a research report on Thursday, April 10th. They set an "outperform" rating and a $35.00 price objective for the company. 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 research note 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 for the company in a research report on Thursday, April 24th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $36.80.

Insider Activity at Orrstown Financial Services

In other news, Director Brian D. Brunner acquired 2,500 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were purchased at an average cost of $30.87 per share, for a total transaction of $77,175.00. Following the transaction, the director now directly owns 49,330 shares in the company, valued at approximately $1,522,817.10. This represents a 5.34% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John W. Giambalvo acquired 1,000 shares of the business's stock in a transaction on Monday, March 10th. The shares were purchased at an average price of $30.80 per share, with a total value of $30,800.00. Following the transaction, the director now owns 40,562 shares in the company, valued at $1,249,309.60. The trade was a 2.53% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 6,500 shares of company stock worth $201,485 in the last quarter. Company insiders own 4.70% of the company's stock.

Orrstown Financial Services Stock Performance

Shares of ORRF traded down $0.25 during mid-day trading on Wednesday, reaching $29.89. 111,500 shares of the company's stock were exchanged, compared to its average volume of 121,831. The business's fifty day simple moving average is $29.01 and its 200-day simple moving average is $33.15. The stock has a market capitalization of $583.09 million, a PE ratio of 16.24 and a beta of 0.77. Orrstown Financial Services, Inc. has a 52-week low of $24.91 and a 52-week high of $41.99. 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 (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 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 company had revenue of $60.39 million for the quarter, compared to the consensus estimate of $51.83 million. During the same period last year, the firm posted $0.88 EPS. On average, equities research analysts expect that Orrstown Financial Services, Inc. will post 4.23 earnings per share for the current year.

Orrstown Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 13th. Investors of record on Tuesday, May 6th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Tuesday, May 6th. Orrstown Financial Services's dividend 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.