Vanguard Group Inc. Has $38.18 Million Position in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Vanguard Group Inc. grew its position in Orrstown Financial Services, Inc. (NASDAQ:ORRF - Free Report) by 6.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,042,866 shares of the bank's stock after buying an additional 61,081 shares during the quarter. Vanguard Group Inc. owned 5.38% of Orrstown Financial Services worth $38,179,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Comprehensive Financial Planning Inc. PA bought a new stake in Orrstown Financial Services during the fourth quarter worth $38,000. R Squared Ltd bought a new position in shares of Orrstown Financial Services in the fourth quarter worth about $42,000. VSM Wealth Advisory LLC bought a new position in shares of Orrstown Financial Services in the fourth quarter worth about $47,000. Stonebridge Financial Group LLC acquired a new stake in shares of Orrstown Financial Services in the 4th quarter valued at approximately $92,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Orrstown Financial Services during the 4th quarter worth approximately $123,000. Institutional investors and hedge funds own 44.27% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ORRF. Piper Sandler initiated coverage on shares of Orrstown Financial Services in a research report on Wednesday, January 8th. They issued an "overweight" rating and a $43.00 target price on the stock. Raymond James began coverage on Orrstown Financial Services in a research report on Thursday, April 10th. They set an "outperform" rating and a $35.00 price objective on the stock. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $42.00 target price (down from $46.00) on shares of Orrstown Financial Services in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Orrstown Financial Services currently has a consensus rating of "Moderate Buy" and an average target price of $38.80.

Orrstown Financial Services Trading Up 0.8 %

Shares of Orrstown Financial Services stock traded up $0.22 during trading on Friday, hitting $26.95. The company's stock had a trading volume of 260,100 shares, compared to its average volume of 112,523. The stock has a market cap of $525.66 million, a price-to-earnings ratio of 14.65 and a beta of 0.78. Orrstown Financial Services, Inc. has a 52 week low of $24.90 and a 52 week high of $41.99. The stock has a 50-day moving average price of $30.70 and a two-hundred day moving average price of $35.00. 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 (NASDAQ:ORRF - Get Free Report) last released its quarterly 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 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 company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were issued a dividend of $0.26 per share. This is a positive change from Orrstown Financial Services's previous quarterly dividend of $0.23. The ex-dividend date was Friday, February 14th. This represents a $1.04 annualized dividend and a yield of 3.86%. Orrstown Financial Services's dividend payout ratio (DPR) is presently 56.52%.

Insider Transactions at Orrstown Financial Services

In other Orrstown Financial Services news, Director Scott V. Fainor purchased 3,000 shares of the firm's stock in a transaction on Monday, March 24th. The stock was purchased at an average cost of $31.17 per share, for a total transaction of $93,510.00. Following the acquisition, the director now owns 13,396 shares in the company, valued at approximately $417,553.32. The trade was a 28.86 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John W. Giambalvo acquired 1,000 shares of the company's stock in a transaction dated Monday, March 10th. The stock was acquired at an average cost of $30.80 per share, for a total transaction of $30,800.00. Following the completion of the purchase, the director now directly owns 40,562 shares in the company, valued at $1,249,309.60. This trade represents a 2.53 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 6,800 shares of company stock worth $211,892. Company insiders own 4.70% of the company's stock.

About Orrstown Financial Services

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.