Thrivent Financial for Lutherans Makes New Investment in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Thrivent Financial for Lutherans acquired a new position in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,158 shares of the bank's stock, valued at approximately $921,000. Thrivent Financial for Lutherans owned approximately 0.13% of Orrstown Financial Services at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ORRF. Comprehensive Financial Planning Inc. PA acquired a new position in Orrstown Financial Services during the 4th quarter worth approximately $38,000. R Squared Ltd bought a new stake in shares of Orrstown Financial Services during the fourth quarter valued at approximately $42,000. Stonebridge Financial Group LLC acquired a new position in shares of Orrstown Financial Services during the fourth quarter worth approximately $92,000. Wilmington Savings Fund Society FSB bought a new position in shares of Orrstown Financial Services in the 4th quarter worth $123,000. Finally, Arizona State Retirement System acquired a new stake in Orrstown Financial Services in the 4th quarter valued at $206,000. 44.27% of the stock is currently owned by institutional investors and hedge funds.

Orrstown Financial Services Stock Down 0.9 %

Shares of ORRF stock traded down $0.25 on Friday, hitting $26.71. The stock had a trading volume of 185,447 shares, compared to its average volume of 107,627. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.88 and a quick ratio of 0.88. The business has a 50 day moving average of $32.46 and a 200 day moving average of $35.62. Orrstown Financial Services, Inc. has a 12-month low of $24.70 and a 12-month high of $41.99. The stock has a market cap of $520.98 million, a price-to-earnings ratio of 14.52 and a beta of 0.78.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The bank reported $0.87 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%. As a group, analysts expect that Orrstown Financial Services, Inc. will post 4.23 EPS for the current year.

Orrstown Financial Services Increases Dividend

The firm also recently disclosed 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 was Friday, February 14th. This represents a $1.04 annualized dividend and a yield of 3.89%. This is a boost from Orrstown Financial Services's previous quarterly dividend of $0.23. Orrstown Financial Services's payout ratio is currently 56.52%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ORRF shares. Piper Sandler assumed 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. Keefe, Bruyette & Woods reiterated 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.

Insiders Place Their Bets

In related news, Director Scott V. Fainor purchased 3,000 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were bought at an average price of $31.17 per share, with a total value of $93,510.00. Following the acquisition, the director now owns 13,396 shares of the company's stock, valued at $417,553.32. This trade represents a 28.86 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Brian D. Brunner acquired 2,500 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The stock was purchased at an average price of $30.87 per share, for a total transaction of $77,175.00. Following the purchase, the director now owns 49,330 shares of the company's stock, valued at $1,522,817.10. The trade was a 5.34 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 6,800 shares of company stock valued at $211,892. 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.