Salzhauer Michael lessened its stake in Orrstown Financial Services, Inc. (NASDAQ:ORRF - Free Report) by 42.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,000 shares of the bank's stock after selling 10,900 shares during the period. Salzhauer Michael owned about 0.08% of Orrstown Financial Services worth $549,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Comprehensive Financial Planning Inc. PA bought a new position in Orrstown Financial Services during the fourth quarter worth about $38,000. R Squared Ltd bought a new position in Orrstown Financial Services during the fourth quarter worth about $42,000. CWM LLC lifted its stake in Orrstown Financial Services by 31.0% during the third quarter. CWM LLC now owns 2,217 shares of the bank's stock worth $80,000 after purchasing an additional 525 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Orrstown Financial Services during the fourth quarter worth about $123,000. Finally, Quest Partners LLC bought a new position in Orrstown Financial Services during the third quarter worth about $155,000. Institutional investors own 44.27% of the company's stock.
Wall Street Analyst Weigh In
ORRF has been the subject of a number of analyst reports. Keefe, Bruyette & Woods restated an "outperform" rating and set a $42.00 price target (down previously from $46.00) on shares of Orrstown Financial Services in a research note on Monday, February 3rd. Piper Sandler initiated coverage on shares of Orrstown Financial Services in a report on Wednesday, January 8th. They set an "overweight" rating and a $43.00 price objective for the company. Finally, Hovde Group lowered shares of Orrstown Financial Services from an "outperform" rating to a "market perform" rating in a report on Wednesday, November 13th.
Read Our Latest Research Report on ORRF
Orrstown Financial Services Price Performance
Shares of Orrstown Financial Services stock traded up $0.02 during midday trading on Thursday, reaching $33.90. The company had a trading volume of 84,526 shares, compared to its average volume of 115,708. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $657.32 million, a price-to-earnings ratio of 18.42 and a beta of 0.90. The stock has a fifty day simple moving average of $36.32 and a 200 day simple moving average of $36.32. 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 released its earnings results 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 return on equity of 15.77% and a net margin of 7.70%. As a group, equities research analysts forecast 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 will be paid on Friday, February 21st. Shareholders of record on Friday, February 14th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Friday, February 14th. This is a positive change from Orrstown Financial Services's previous quarterly dividend of $0.23. Orrstown Financial Services's payout ratio is currently 50.00%.
About Orrstown Financial Services
(
Free Report)
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.
Featured Articles
Before you consider Orrstown Financial Services, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Orrstown Financial Services wasn't on the list.
While Orrstown Financial Services currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
