Savant Capital LLC Buys New Stake in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Savant Capital LLC purchased a new stake in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,182 shares of the bank's stock, valued at approximately $373,000. Savant Capital LLC owned approximately 0.05% of Orrstown Financial Services as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ORRF. Fourthstone LLC lifted its stake in shares of Orrstown Financial Services by 223.8% in the 3rd quarter. Fourthstone LLC now owns 1,811,825 shares of the bank's stock valued at $65,153,000 after purchasing an additional 1,252,356 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Orrstown Financial Services in the 3rd quarter valued at $8,734,000. Petiole USA ltd acquired a new stake in shares of Orrstown Financial Services in the 3rd quarter valued at $6,543,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Orrstown Financial Services by 503.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 158,029 shares of the bank's stock valued at $5,683,000 after purchasing an additional 131,845 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Orrstown Financial Services by 32.2% in the 3rd quarter. Geode Capital Management LLC now owns 434,228 shares of the bank's stock valued at $15,617,000 after purchasing an additional 105,735 shares during the last quarter. 44.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ORRF. Piper Sandler began coverage on shares of Orrstown Financial Services in a research report on Wednesday, January 8th. They set an "overweight" rating and a $43.00 target price for the company. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $42.00 target price (down previously from $46.00) on shares of Orrstown Financial Services in a research report on Monday, February 3rd. Finally, Hovde Group lowered shares of Orrstown Financial Services from an "outperform" rating to a "market perform" rating in a research report on Wednesday, November 13th.

Orrstown Financial Services Stock Performance

Shares of ORRF traded down $0.49 during trading hours on Friday, reaching $33.05. 114,547 shares of the company traded hands, compared to its average volume of 125,272. The stock's fifty day moving average is $35.53 and its 200 day moving average is $36.28. The stock has a market cap of $640.84 million, a P/E ratio of 17.96 and a beta of 0.90. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 0.88. Orrstown Financial Services, Inc. has a 1-year low of $24.70 and a 1-year high of $41.99.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The bank reported $0.87 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%. Equities research analysts anticipate that Orrstown Financial Services, Inc. will post 4.23 earnings per share for the current fiscal year.

Orrstown Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 14th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, February 14th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.15%. This is a positive change from Orrstown Financial Services's previous quarterly dividend of $0.23. Orrstown Financial Services's dividend payout ratio is currently 56.52%.

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.