39,803 Shares in Orrstown Financial Services, Inc. (NASDAQ:ORRF) Bought by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL purchased a new stake in Orrstown Financial Services, Inc. (NASDAQ:ORRF - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 39,803 shares of the bank's stock, valued at approximately $1,457,000. Tudor Investment Corp ET AL owned 0.21% of Orrstown Financial Services as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Summit Investment Advisors Inc. boosted its stake in Orrstown Financial Services by 21.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,942 shares of the bank's stock valued at $71,000 after purchasing an additional 349 shares during the period. Sterling Capital Management LLC lifted its stake in shares of Orrstown Financial Services by 4.9% in the 4th quarter. Sterling Capital Management LLC now owns 11,258 shares of the bank's stock worth $412,000 after acquiring an additional 524 shares during the period. American Century Companies Inc. lifted its stake in shares of Orrstown Financial Services by 0.3% in the 4th quarter. American Century Companies Inc. now owns 228,067 shares of the bank's stock worth $8,350,000 after acquiring an additional 755 shares during the period. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Orrstown Financial Services in the 4th quarter worth approximately $38,000. Finally, R Squared Ltd acquired a new stake in shares of Orrstown Financial Services in the 4th quarter worth approximately $42,000. 44.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on ORRF shares. 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 note on Thursday, April 24th. Raymond James started coverage on shares of Orrstown Financial Services in a research note on Thursday, April 10th. They issued an "outperform" rating and a $35.00 price target for the company. 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 for the company in a research note on Wednesday, April 30th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $36.40.

Orrstown Financial Services Trading Down 0.2%

Shares of ORRF stock traded down $0.05 during trading hours on Friday, reaching $30.48. 76,622 shares of the stock traded hands, compared to its average volume of 118,513. Orrstown Financial Services, Inc. has a 1-year low of $24.91 and a 1-year high of $41.99. The business has a fifty day moving average price of $29.19 and a 200 day moving average price of $34.16. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $594.51 million, a PE ratio of 16.57 and a beta of 0.77.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The bank reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $51.83 million. During the same quarter in the previous year, the business earned $0.88 earnings per share. On average, equities research analysts forecast that Orrstown Financial Services, Inc. will post 4.23 EPS for the current year.

Orrstown Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 13th. Stockholders of record on Tuesday, May 6th will be issued 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 dividend yield of 3.41%. Orrstown Financial Services's dividend payout ratio is currently 53.06%.

Insider Activity

In related news, Director Scott V. Fainor acquired 3,000 shares of the company's stock in a transaction on Monday, March 24th. The shares were purchased at an average price of $31.17 per share, for a total transaction of $93,510.00. Following the purchase, the director now owns 13,396 shares in the company, valued at $417,553.32. This represents a 28.86% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John W. Giambalvo acquired 1,000 shares of the company's stock in a transaction on Monday, March 10th. The stock was bought at an average price of $30.80 per share, for a total transaction of $30,800.00. Following the purchase, the director now owns 40,562 shares in the company, 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. Insiders have bought 6,500 shares of company stock worth $201,485 over the last 90 days. 4.70% of the stock is owned by company insiders.

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.