18,746 Shares in Orrstown Financial Services Inc $ORRF Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Orrstown Financial Services Inc (NASDAQ:ORRF) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 18,746 shares of the bank’s stock, valued at approximately $761,000.

Several other large investors also recently modified their holdings of ORRF. Nisa Investment Advisors LLC lifted its position in shares of Orrstown Financial Services by 186.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,938 shares of the bank’s stock worth $160,000 after buying an additional 2,561 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in Orrstown Financial Services in the 2nd quarter valued at $396,000. Squarepoint Ops LLC acquired a new stake in Orrstown Financial Services in the 2nd quarter valued at $276,000. Arizona State Retirement System acquired a new stake in Orrstown Financial Services in the 2nd quarter valued at $210,000. Finally, Empowered Funds LLC bought a new stake in Orrstown Financial Services in the second quarter valued at $1,810,000. 44.27% of the stock is currently owned by institutional investors.

Orrstown Financial Services Price Performance

Shares of Orrstown Financial Services stock opened at $43.82 on Monday. The stock has a market capitalization of $861.94 million, a price-to-earnings ratio of 9.76 and a beta of 0.70. The firm’s 50-day moving average price is $42.36 and its two-hundred day moving average price is $39.43. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.01. Orrstown Financial Services Inc has a 1-year low of $33.33 and a 1-year high of $46.81.

Orrstown Financial Services (NASDAQ:ORRF) last posted its earnings results on Tuesday, October 20th. The bank reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.07. The company had revenue of $66.70 million during the quarter, compared to analysts’ expectations of $66.20 million. Orrstown Financial Services had a net margin of 24.23% and a return on equity of 14.41%. On average, equities analysts predict that Orrstown Financial Services Inc will post 4.45 earnings per share for the current fiscal year.

Orrstown Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Tuesday, November 3rd will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, November 3rd. This represents a $1.20 dividend on an annualized basis and a yield of 2.7%. Orrstown Financial Services’s dividend payout ratio is 26.73%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Weiss Ratings cut Orrstown Financial Services from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday. Keefe, Bruyette & Woods lifted their price objective on Orrstown Financial Services from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. DA Davidson restated a “neutral” rating and issued a $41.00 target price on shares of Orrstown Financial Services in a research note on Wednesday, July 22nd. Finally, Hovde Group upped their target price on shares of Orrstown Financial Services from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Orrstown Financial Services presently has an average rating of “Moderate Buy” and an average price target of $44.33.

About Orrstown Financial Services

Orrstown Financial Services, Inc is the bank holding company for Orrstown Bank, a full-service community banking institution headquartered in Shippensburg, Pennsylvania. Founded in 1919, the company serves individuals, families, businesses and organizations through a network of banking offices in Pennsylvania and Maryland.

Orrstown Bank offers a range of personal and business banking products, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial real estate loans and business financing.