UBS Group AG Boosts Stock Holdings in Orrstown Financial Services Inc $ORRF

Key Points

• UBS Group AG nearly doubled its stake in Orrstown Financial Services, buying an additional 50,979 shares in the fourth quarter and bringing its holding to 102,329 shares worth about $3.6 million.
• Insider and institutional interest remains notable, with hedge funds and other institutions owning 44.27% of the company, while Director Brian D. Brunner also bought 1,000 shares in March.
• Orrstown’s fundamentals and outlook look solid: the bank beat quarterly EPS estimates, pays a $0.30 quarterly dividend yielding about 3.3%, and analysts currently rate the stock a Moderate Buy with a $41.67 average price target.

UBS Group AG boosted its stake in shares of Orrstown Financial Services Inc (NASDAQ:ORRF - Free Report) by 99.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 102,329 shares of the bank's stock after purchasing an additional 50,979 shares during the period. UBS Group AG owned approximately 0.52% of Orrstown Financial Services worth $3,624,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ORRF. Kennedy Capital Management LLC raised its stake in Orrstown Financial Services by 569.5% during the third quarter. Kennedy Capital Management LLC now owns 280,723 shares of the bank's stock worth $9,539,000 after purchasing an additional 238,790 shares during the period. Marshall Wace LLP purchased a new position in Orrstown Financial Services during the second quarter worth approximately $7,424,000. Millennium Management LLC raised its stake in Orrstown Financial Services by 123.8% during the first quarter. Millennium Management LLC now owns 330,322 shares of the bank's stock worth $9,913,000 after purchasing an additional 182,709 shares during the period. Dimensional Fund Advisors LP raised its stake in Orrstown Financial Services by 10.4% during the third quarter. Dimensional Fund Advisors LP now owns 765,332 shares of the bank's stock worth $26,006,000 after purchasing an additional 72,373 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of Orrstown Financial Services by 468.4% in the 3rd quarter. First Trust Advisors LP now owns 71,038 shares of the bank's stock valued at $2,414,000 after acquiring an additional 58,540 shares during the period. Hedge funds and other institutional investors own 44.27% of the company's stock.

Insider Transactions at Orrstown Financial Services

In other news, Director Brian D. Brunner purchased 1,000 shares of the company's stock in a transaction that occurred on Wednesday, March 18th. The shares were purchased at an average price of $34.02 per share, with a total value of $34,020.00. Following the purchase, the director directly owned 50,529 shares of the company's stock, valued at approximately $1,718,996.58. This represents a 2.02% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Weiss Ratings raised shares of Orrstown Financial Services from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, February 23rd. DA Davidson assumed coverage on shares of Orrstown Financial Services in a research note on Friday, May 15th. They issued a "neutral" rating and a $41.00 target price on the stock. Finally, Hovde Group raised their target price on shares of Orrstown Financial Services from $40.00 to $42.00 and gave the company an "outperform" rating in a research note on Monday, February 2nd. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Orrstown Financial Services presently has an average rating of "Moderate Buy" and an average price target of $41.67.

Orrstown Financial Services Stock Performance

Orrstown Financial Services stock opened at $36.61 on Friday. Orrstown Financial Services Inc has a 12-month low of $29.31 and a 12-month high of $40.72. The company has a market capitalization of $719.39 million, a price-to-earnings ratio of 8.38 and a beta of 0.71. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.87 and a quick ratio of 0.87. The firm's fifty day moving average price is $36.44 and its 200 day moving average price is $36.28.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The bank reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.08. Orrstown Financial Services had a net margin of 23.58% and a return on equity of 14.75%. The firm had revenue of $64.58 million for the quarter, compared to the consensus estimate of $63.20 million. On average, research analysts forecast that Orrstown Financial Services Inc will post 4.29 EPS for the current fiscal year.

Orrstown Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 12th. Investors of record on Tuesday, May 5th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $1.20 annualized dividend and a yield of 3.3%. Orrstown Financial Services's payout ratio is 27.46%.

Orrstown Financial Services Profile

Orrstown Financial Services, Inc is the bank holding company for Orrstown Bank, a community banking organization headquartered in Shippensburg, Pennsylvania. The roots of Orrstown Bank date back to 1865, and the holding company structure was established to support its growth and diversification. As a regional financial institution, Orrstown Financial Services focuses on delivering personalized banking solutions to individuals, families and businesses across Central Pennsylvania.

The company's core offerings include a full suite of deposit products such as checking and savings accounts, money market accounts and certificates of deposit.

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