Quantbot Technologies LP Invests $127,000 in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Quantbot Technologies LP purchased a new stake in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 3,478 shares of the bank’s stock, valued at approximately $127,000.

Several other large investors have also recently added to or reduced their stakes in the company. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Orrstown Financial Services during the fourth quarter worth $38,000. R Squared Ltd acquired a new stake in Orrstown Financial Services during the fourth quarter worth about $42,000. VSM Wealth Advisory LLC acquired a new stake in Orrstown Financial Services during the fourth quarter worth about $47,000. Stonebridge Financial Group LLC bought a new position in Orrstown Financial Services in the fourth quarter worth about $92,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Orrstown Financial Services in the fourth quarter valued at approximately $123,000. 44.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Orrstown Financial Services

In related news, Director Scott V. Fainor bought 3,000 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were acquired at an average cost of $31.17 per share, for a total transaction of $93,510.00. Following the acquisition, the director now directly owns 13,396 shares of the company’s stock, valued at $417,553.32. The trade was a 28.86 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 price of $30.87 per share, with a total value of $77,175.00. Following the transaction, the director now directly 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. Over the last 90 days, insiders have purchased 6,800 shares of company stock valued at $211,892. Corporate insiders own 5.30% of the company’s stock.

Orrstown Financial Services Price Performance

Shares of NASDAQ:ORRF opened at $30.00 on Monday. The firm’s 50 day moving average is $33.20 and its two-hundred day moving average is $35.85. The firm has a market capitalization of $581.58 million, a P/E ratio of 16.30 and a beta of 0.87. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. Orrstown Financial Services, Inc. has a 52 week low of $24.70 and a 52 week high of $41.99.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings results on Friday, January 31st. The bank reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.17). Orrstown Financial Services had a net margin of 7.70% and a return on equity of 15.77%. Analysts anticipate that Orrstown Financial Services, Inc. will post 4.23 earnings per share for the current year.

Orrstown Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 14th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.47%. This is a boost from Orrstown Financial Services’s previous quarterly dividend of $0.23. The ex-dividend date was Friday, February 14th. Orrstown Financial Services’s dividend payout ratio (DPR) is presently 56.52%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $42.00 price target (down from $46.00) on shares of Orrstown Financial Services in a research report on Monday, February 3rd. Piper Sandler began coverage on Orrstown Financial Services in a research report on Wednesday, January 8th. They issued an “overweight” rating and a $43.00 target price on the 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.