Jump Financial LLC Makes New $340,000 Investment in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Jump Financial LLC acquired a new stake in Orrstown Financial Services, Inc. (NASDAQ:ORRF - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,300 shares of the bank's stock, valued at approximately $340,000.

Several other large investors have also bought and sold shares of the company. Comprehensive Financial Planning Inc. PA purchased a new position in Orrstown Financial Services in the 4th quarter worth about $38,000. R Squared Ltd bought a new position in Orrstown Financial Services in the 4th quarter worth approximately $42,000. VSM Wealth Advisory LLC acquired a new position in shares of Orrstown Financial Services during the fourth quarter valued at about $47,000. Summit Investment Advisors Inc. increased its holdings 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 during the period. Finally, Stonebridge Financial Group LLC acquired a new stake in Orrstown Financial Services in the 4th quarter valued at $92,000. Institutional investors own 44.27% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Raymond James began coverage on shares of Orrstown Financial Services in a research report on Thursday, April 10th. They issued an "outperform" rating and a $35.00 price objective for the company. Keefe, Bruyette & Woods reduced their price objective on 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. Piper Sandler initiated coverage on shares of Orrstown Financial Services in a research note on Wednesday, January 8th. They issued an "overweight" rating and a $43.00 price target on the stock. Finally, Hovde Group raised shares of Orrstown Financial Services from a "market perform" rating to an "outperform" rating and set a $35.00 price target on the stock in a research report on Wednesday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $36.40.

Orrstown Financial Services Trading Up 0.8 %

NASDAQ:ORRF traded up $0.25 during trading hours on Thursday, hitting $30.22. 31,182 shares of the company were exchanged, compared to its average volume of 117,059. The company has a fifty day simple moving average of $29.60 and a 200 day simple moving average of $34.53. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $589.46 million, a price-to-earnings ratio of 16.49 and a beta of 0.78. Orrstown Financial Services, Inc. has a one year low of $24.91 and a one year high of $41.99.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last issued 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. The firm had revenue of $60.39 million during the quarter, compared to the consensus estimate 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 business posted $0.88 EPS. Sell-side analysts expect that Orrstown Financial Services, Inc. will post 4.23 EPS for the current fiscal year.

Orrstown Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 13th. Shareholders of record on Tuesday, May 6th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $1.04 dividend on an annualized basis and a yield of 3.44%. Orrstown Financial Services's dividend payout ratio (DPR) is presently 53.06%.

Insiders Place Their Bets

In other Orrstown Financial Services news, Director Brian D. Brunner purchased 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The stock was bought at an average cost of $30.87 per share, with a total value of $77,175.00. Following the completion of the transaction, the director now owns 49,330 shares of the company's stock, valued at $1,522,817.10. The trade was a 5.34 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Scott V. Fainor acquired 3,000 shares of the stock in a transaction on Monday, March 24th. The stock was bought at an average cost of $31.17 per share, for a total transaction of $93,510.00. Following the transaction, the director now owns 13,396 shares of the company's stock, valued at approximately $417,553.32. This trade represents a 28.86 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 6,800 shares of company stock worth $211,892. Insiders own 4.70% of the company's stock.

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.