Comprehensive Financial Planning Inc. PA Acquires New Holdings in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,045 shares of the bank’s stock, valued at approximately $38,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Fourthstone LLC raised its holdings in Orrstown Financial Services by 223.8% in the 3rd quarter. Fourthstone LLC now owns 1,811,825 shares of the bank’s stock valued at $65,153,000 after acquiring an additional 1,252,356 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Orrstown Financial Services by 32.2% in the third quarter. Geode Capital Management LLC now owns 434,228 shares of the bank’s stock valued at $15,617,000 after acquiring an additional 105,735 shares during the last quarter. State Street Corp boosted its stake in Orrstown Financial Services by 12.8% in the third quarter. State Street Corp now owns 342,119 shares of the bank’s stock worth $12,303,000 after purchasing an additional 38,886 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in Orrstown Financial Services during the 3rd quarter worth about $8,734,000. Finally, Petiole USA ltd bought a new stake in shares of Orrstown Financial Services during the third quarter valued at approximately $6,543,000. Institutional investors and hedge funds own 44.27% of the company’s stock.

Analysts Set New Price Targets

ORRF has been the topic of a number of analyst reports. Hovde Group downgraded Orrstown Financial Services from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 13th. 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 target price for the company. Finally, Keefe, Bruyette & Woods reiterated 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.

Orrstown Financial Services Price Performance

Shares of NASDAQ ORRF opened at $34.10 on Tuesday. Orrstown Financial Services, Inc. has a twelve month low of $24.70 and a twelve month high of $41.99. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $36.53 and a 200 day simple moving average of $36.33. The company has a market capitalization of $661.20 million, a PE ratio of 18.53 and a beta of 0.90.

Orrstown Financial Services (NASDAQ:ORRF) last released 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%. On average, sell-side analysts forecast that Orrstown Financial Services, Inc. will post 4.23 EPS for the current year.

Orrstown Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 14th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.05%. This is an increase from Orrstown Financial Services’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, February 14th. Orrstown Financial Services’s dividend payout ratio is presently 50.00%.

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.