VSM Wealth Advisory LLC Buys Shares of 1,288 Orrstown Financial Services, Inc. (NASDAQ:ORRF)

VSM Wealth Advisory LLC purchased a new stake in Orrstown Financial Services, Inc. (NASDAQ:ORRF) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,288 shares of the bank’s stock, valued at approximately $47,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Barclays PLC raised its position in shares of Orrstown Financial Services by 120.4% during the 3rd quarter. Barclays PLC now owns 33,721 shares of the bank’s stock worth $1,212,000 after purchasing an additional 18,422 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Orrstown Financial Services by 206.0% in the third quarter. Empowered Funds LLC now owns 72,563 shares of the bank’s stock worth $2,609,000 after acquiring an additional 48,851 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of Orrstown Financial Services in the third quarter worth $478,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Orrstown Financial Services by 110.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,387 shares of the bank’s stock valued at $1,596,000 after acquiring an additional 23,333 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Orrstown Financial Services by 503.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 158,029 shares of the bank’s stock valued at $5,683,000 after acquiring an additional 131,845 shares during the last quarter. Hedge funds and other institutional investors own 44.27% of the company’s stock.

Orrstown Financial Services Stock Performance

NASDAQ ORRF opened at $30.80 on Thursday. The business’s 50-day moving average price is $33.83 and its 200 day moving average price is $36.05. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. Orrstown Financial Services, Inc. has a twelve month low of $24.70 and a twelve month high of $41.99. The company has a market capitalization of $597.09 million, a PE ratio of 16.74 and a beta of 0.87.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings data on Friday, January 31st. The bank reported $0.87 earnings per share 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, research analysts predict that Orrstown Financial Services, Inc. will post 4.23 earnings per share for the current year.

Orrstown Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 14th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Orrstown Financial Services’s previous quarterly dividend of $0.23. This represents a $1.04 annualized dividend and a dividend yield of 3.38%. Orrstown Financial Services’s payout ratio is currently 56.52%.

Insider Transactions at Orrstown Financial Services

In other news, Director John W. Giambalvo bought 1,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was acquired at an average price of $30.80 per share, for a total transaction of $30,800.00. Following the acquisition, the director now owns 40,562 shares of the company’s stock, valued at $1,249,309.60. This trade represents a 2.53 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 5.30% of the company’s stock.

Wall Street Analysts Forecast Growth

ORRF has been the topic of a number of recent research reports. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $42.00 target price (down from $46.00) on shares of Orrstown Financial Services in a report on Monday, February 3rd. Piper Sandler assumed 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 objective on the stock.

Orrstown Financial Services Company 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.