Orrstown Financial Services, Inc. (NASDAQ:ORRF) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its stake in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF - Free Report) by 21.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 52,106 shares of the bank's stock after selling 14,644 shares during the period. Los Angeles Capital Management LLC owned approximately 0.27% of Orrstown Financial Services worth $1,908,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Orrstown Financial Services during the 4th quarter valued at approximately $38,000. R Squared Ltd bought a new position in Orrstown Financial Services during the 4th quarter valued at $42,000. Stonebridge Financial Group LLC bought a new position in Orrstown Financial Services during the 4th quarter valued at $92,000. Wilmington Savings Fund Society FSB acquired a new position in Orrstown Financial Services during the 4th quarter worth $123,000. Finally, Quest Partners LLC bought a new stake in shares of Orrstown Financial Services in the 3rd quarter worth about $155,000. Hedge funds and other institutional investors own 44.27% of the company's stock.

Orrstown Financial Services Price Performance

Shares of NASDAQ ORRF traded down $0.19 during mid-day trading on Tuesday, reaching $33.17. 107,788 shares of the company traded hands, compared to its average volume of 125,300. Orrstown Financial Services, Inc. has a fifty-two week low of $24.70 and a fifty-two week high of $41.99. The firm has a market cap of $643.03 million, a PE ratio of 18.03 and a beta of 0.90. The stock has a fifty day simple moving average of $35.05 and a 200-day simple moving average of $36.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.88 and a quick ratio of 0.88.

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Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The bank reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate 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 EPS for the current fiscal year.

Orrstown Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were given a $0.26 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Orrstown Financial Services's previous quarterly dividend of $0.23. This represents a $1.04 annualized dividend and a yield of 3.14%. Orrstown Financial Services's payout ratio is 56.52%.

Analyst Ratings Changes

ORRF has been the topic of several research reports. Keefe, Bruyette & Woods restated an "outperform" rating and set a $42.00 price objective (down previously from $46.00) on shares of Orrstown Financial Services in a research note on Monday, February 3rd. Hovde Group downgraded Orrstown Financial Services from an "outperform" rating to a "market perform" rating in a research note on Wednesday, November 13th. Finally, Piper Sandler assumed coverage on Orrstown Financial Services in a report on Wednesday, January 8th. They set an "overweight" rating and a $43.00 price target on the 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.