Aquatic Capital Management LLC Invests $256,000 in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Aquatic Capital Management LLC bought a new position in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,002 shares of the bank’s stock, valued at approximately $256,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Orrstown Financial Services during the 4th quarter valued at about $38,000. R Squared Ltd acquired a new stake in Orrstown Financial Services during the fourth quarter worth about $42,000. VSM Wealth Advisory LLC purchased a new position in Orrstown Financial Services during the fourth quarter valued at approximately $47,000. Summit Investment Advisors Inc. lifted its holdings in Orrstown Financial Services by 21.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,942 shares of the bank’s stock valued at $71,000 after acquiring an additional 349 shares during the period. Finally, Stonebridge Financial Group LLC purchased a new stake in Orrstown Financial Services in the 4th quarter worth approximately $92,000. 44.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Orrstown Financial Services

In other Orrstown Financial Services news, Director John W. Giambalvo acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average price of $30.80 per share, with a total value of $30,800.00. Following the purchase, the director now owns 40,562 shares in the company, valued at approximately $1,249,309.60. The trade was a 2.53 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian D. Brunner bought 2,500 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was acquired at an average cost of $30.87 per share, for a total transaction of $77,175.00. Following the completion of the purchase, the director now directly owns 49,330 shares in the company, valued at approximately $1,522,817.10. This represents a 5.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 6,800 shares of company stock valued at $211,892. 4.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ORRF shares. Piper Sandler began 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. Hovde Group upgraded shares of Orrstown Financial Services from a “market perform” rating to an “outperform” rating and set a $35.00 price objective for the company in a research report on Wednesday. Raymond James initiated coverage on Orrstown Financial Services in a research report on Thursday, April 10th. They set an “outperform” rating and a $35.00 target price on the stock. Finally, Keefe, Bruyette & Woods reduced their price target on Orrstown Financial Services from $40.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Orrstown Financial Services presently has a consensus rating of “Buy” and an average target price of $36.40.

Orrstown Financial Services Stock Performance

ORRF opened at $30.35 on Friday. The company has a market cap of $591.98 million, a price-to-earnings ratio of 16.49 and a beta of 0.78. The firm’s fifty day simple moving average is $29.49 and its two-hundred day simple moving average is $34.42. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.13. Orrstown Financial Services, Inc. has a 52-week low of $24.91 and a 52-week high of $41.99.

Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings data on Tuesday, April 22nd. The bank reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.05. Orrstown Financial Services had a return on equity of 15.77% and a net margin of 7.70%. The company had revenue of $60.39 million for the quarter, compared to analysts’ expectations of $51.83 million. During the same period in the previous year, the firm posted $0.88 EPS. Equities analysts anticipate that Orrstown Financial Services, Inc. will post 4.23 earnings per share for the current fiscal year.

Orrstown Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 13th. Investors of record on Tuesday, May 6th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Tuesday, May 6th. Orrstown Financial Services’s payout ratio is 53.06%.

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.