Johnson & White Wealth Management LLC Takes Position in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Johnson & White Wealth Management LLC acquired a new stake in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 9,211 shares of the bank’s stock, valued at approximately $331,000.

A number of other hedge funds have also recently modified their holdings of the business. CWM LLC grew its position in shares of Orrstown Financial Services by 31.0% during the 3rd quarter. CWM LLC now owns 2,217 shares of the bank’s stock valued at $80,000 after acquiring an additional 525 shares during the period. Segall Bryant & Hamill LLC grew its position in shares of Orrstown Financial Services by 1.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 124,652 shares of the bank’s stock valued at $4,482,000 after acquiring an additional 2,143 shares during the period. RKL Wealth Management LLC grew its position in shares of Orrstown Financial Services by 22.8% during the 3rd quarter. RKL Wealth Management LLC now owns 12,286 shares of the bank’s stock valued at $442,000 after acquiring an additional 2,281 shares during the period. Jane Street Group LLC grew its position in shares of Orrstown Financial Services by 21.5% during the 3rd quarter. Jane Street Group LLC now owns 20,768 shares of the bank’s stock valued at $747,000 after acquiring an additional 3,680 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of Orrstown Financial Services by 65.3% during the 3rd quarter. SG Americas Securities LLC now owns 9,318 shares of the bank’s stock valued at $335,000 after acquiring an additional 3,682 shares during the period. Institutional investors own 44.27% of the company’s stock.

Orrstown Financial Services Stock Up 0.4 %

Shares of ORRF stock opened at $34.11 on Tuesday. The stock has a market cap of $661.26 million, a P/E ratio of 18.34 and a beta of 0.91. Orrstown Financial Services, Inc. has a 52 week low of $24.70 and a 52 week 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 company’s fifty day simple moving average is $38.31 and its two-hundred day simple moving average is $35.47.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings results on Tuesday, October 22nd. The bank reported $1.11 EPS for the quarter, topping the consensus estimate of $0.92 by $0.19. The business had revenue of $95.37 million for the quarter, compared to analysts’ expectations of $60.90 million. Orrstown Financial Services had a net margin of 6.63% and a return on equity of 14.41%. Analysts predict that Orrstown Financial Services, Inc. will post 4 EPS for the current fiscal year.

Orrstown Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.70%. The ex-dividend date was Tuesday, November 5th. Orrstown Financial Services’s dividend payout ratio is 49.46%.

Insider Activity

In related news, EVP David Todd Hornberger sold 4,000 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $37.82, for a total value of $151,280.00. Following the sale, the executive vice president now directly owns 20,877 shares of the company’s stock, valued at $789,568.14. This represents a 16.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Piper Sandler assumed coverage on shares of Orrstown Financial Services in a report on Wednesday, January 8th. They issued an “overweight” rating and a $43.00 target price for the company. Hovde Group downgraded shares of Orrstown Financial Services from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 13th.

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.