Orrstown Financial Services, Inc. (NASDAQ:ORRF) Shares Bought by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC increased its holdings in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF - Free Report) by 89.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,541 shares of the bank's stock after buying an additional 13,971 shares during the period. Cubist Systematic Strategies LLC owned about 0.15% of Orrstown Financial Services worth $1,081,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ORRF. PL Capital Advisors LLC increased its stake in Orrstown Financial Services by 3,561.0% during the 4th quarter. PL Capital Advisors LLC now owns 2,356,073 shares of the bank's stock worth $86,256,000 after buying an additional 2,291,717 shares during the period. Vanguard Group Inc. increased its stake in Orrstown Financial Services by 6.2% during 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. increased its stake in Orrstown Financial Services by 55.6% during the 4th quarter. JPMorgan Chase & Co. now owns 139,081 shares of the bank's stock worth $5,092,000 after buying an additional 49,674 shares during the period. Barclays PLC increased its stake in Orrstown Financial Services by 119.2% during the 4th quarter. Barclays PLC now owns 73,922 shares of the bank's stock worth $2,707,000 after buying an additional 40,201 shares during the period. Finally, Tudor Investment Corp ET AL purchased a new stake in Orrstown Financial Services during the 4th quarter worth approximately $1,457,000. 44.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of Orrstown Financial Services from $40.00 to $37.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Hovde Group increased their price objective on shares of Orrstown Financial Services from $35.00 to $37.00 and gave the company an "outperform" rating in a research report on Wednesday. Finally, Raymond James assumed 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 on the stock. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $36.80.

Orrstown Financial Services Stock Down 0.4%

Shares of NASDAQ:ORRF traded down $0.11 during trading hours on Friday, reaching $31.03. The stock had a trading volume of 81,156 shares, compared to its average volume of 118,715. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 0.88. The firm's 50 day moving average is $29.16 and its 200-day moving average is $33.98. The stock has a market capitalization of $605.33 million, a price-to-earnings ratio of 16.86 and a beta of 0.77. Orrstown Financial Services, Inc. has a 1 year low of $24.91 and a 1 year high of $41.99.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The bank reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.05. The firm had revenue of $60.39 million for the quarter, compared to the consensus estimate of $51.83 million. Orrstown Financial Services had a net margin of 7.70% and a return on equity of 15.77%. During the same period last year, the firm posted $0.88 EPS. Research analysts predict that Orrstown Financial Services, Inc. will post 4.23 earnings per share for the current fiscal year.

Orrstown Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 13th. Investors of record on Tuesday, May 6th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date was Tuesday, May 6th. Orrstown Financial Services's dividend payout ratio (DPR) is 53.06%.

Insider Activity at Orrstown Financial Services

In other Orrstown Financial Services news, Director Scott V. Fainor purchased 3,000 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average price of $31.17 per share, for a total transaction of $93,510.00. Following the purchase, the director now directly owns 13,396 shares in the company, valued at approximately $417,553.32. This trade represents a 28.86% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian D. Brunner purchased 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The shares were acquired at an average price of $30.87 per share, with a total value of $77,175.00. Following the purchase, the director now owns 49,330 shares in the company, valued at $1,522,817.10. This trade represents a 5.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 6,500 shares of company stock valued at $201,485 in the last ninety days. Insiders own 4.70% of the company's stock.

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.