Segall Bryant & Hamill LLC Sells 10,355 Shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Segall Bryant & Hamill LLC lowered its stake in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF - Free Report) by 8.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 114,297 shares of the bank's stock after selling 10,355 shares during the period. Segall Bryant & Hamill LLC owned 0.59% of Orrstown Financial Services worth $4,184,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ORRF. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Orrstown Financial Services during the 4th quarter worth about $38,000. R Squared Ltd purchased a new position in shares of Orrstown Financial Services during the fourth quarter valued at approximately $42,000. VSM Wealth Advisory LLC purchased a new stake in Orrstown Financial Services in the 4th quarter worth approximately $47,000. Stonebridge Financial Group LLC acquired a new position in Orrstown Financial Services in the 4th quarter valued at $92,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Orrstown Financial Services during the 4th quarter worth $123,000. Hedge funds and other institutional investors own 44.27% of the company's stock.

Wall Street Analyst Weigh In

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

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Orrstown Financial Services Stock Down 0.3 %

NASDAQ ORRF traded down $0.09 on Tuesday, reaching $29.93. The company had a trading volume of 13,212 shares, compared to its average volume of 106,187. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.88 and a quick ratio of 0.88. Orrstown Financial Services, Inc. has a 1 year low of $24.70 and a 1 year high of $41.99. The firm has a 50-day moving average of $33.08 and a 200-day moving average of $35.81. The firm has a market capitalization of $580.13 million, a PE ratio of 16.25 and a beta of 0.87.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last posted its quarterly earnings data 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 return on equity of 15.77% and a net margin of 7.70%. On average, 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 disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 14th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.48%. This is a positive change 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 is 56.52%.

Insider Activity

In related news, Director John W. Giambalvo bought 1,000 shares of the business'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 transaction, the director now directly owns 40,562 shares in the company, valued at $1,249,309.60. This represents a 2.53 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott V. Fainor purchased 3,000 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average cost of $31.17 per share, with a total value 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 position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 6,800 shares of company stock valued at $211,892. Company insiders own 5.30% of the company's 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.