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

Aquatic Capital Management LLC purchased a new stake in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,002 shares of the bank’s stock, valued at approximately $256,000.

A number of other large investors have also recently modified their holdings of ORRF. Comprehensive Financial Planning Inc. PA bought a new stake in Orrstown Financial Services during the 4th quarter valued at $38,000. R Squared Ltd bought a new stake in shares of Orrstown Financial Services in the fourth quarter valued at about $42,000. VSM Wealth Advisory LLC purchased a new stake in Orrstown Financial Services in the fourth quarter worth about $47,000. Summit Investment Advisors Inc. grew its holdings in Orrstown Financial Services by 21.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,942 shares of the bank’s stock worth $71,000 after acquiring an additional 349 shares in the last quarter. Finally, Stonebridge Financial Group LLC purchased a new position in Orrstown Financial Services during the 4th quarter valued at about $92,000. Hedge funds and other institutional investors own 44.27% of the company’s stock.

Insider Buying and Selling

In other news, Director Brian D. Brunner bought 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were purchased at an average cost of $30.87 per share, with a total value of $77,175.00. Following the transaction, the director now directly owns 49,330 shares in the company, valued at approximately $1,522,817.10. The trade was a 5.34 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Scott V. Fainor purchased 3,000 shares of the stock in a transaction on Monday, March 24th. The shares were purchased at an average cost of $31.17 per share, with a total value of $93,510.00. Following the transaction, the director now owns 13,396 shares in the company, valued at $417,553.32. This trade represents a 28.86 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 6,800 shares of company stock worth $211,892 in the last three months. Corporate insiders own 4.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ORRF shares. Piper Sandler started coverage on shares of Orrstown Financial Services in a research report on Wednesday, January 8th. They issued an “overweight” rating and a $43.00 price target for the company. 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. 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 research report on Thursday, April 24th. Finally, Hovde Group raised Orrstown Financial Services from a “market perform” rating to an “outperform” rating and set a $35.00 price objective on the stock in a research report on Wednesday. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $36.40.

Orrstown Financial Services Price Performance

Shares of ORRF opened at $30.35 on Friday. The company has a 50 day moving average of $29.49 and a two-hundred day moving average of $34.42. 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 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 twelve month low of $24.91 and a twelve month high of $41.99.

Orrstown Financial Services (NASDAQ:ORRF) last announced its earnings results on Tuesday, April 22nd. The bank reported $1.00 earnings per share 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 firm had revenue of $60.39 million for the quarter, compared to the consensus estimate of $51.83 million. During the same period in the previous year, the business earned $0.88 EPS. As a group, analysts predict that Orrstown Financial Services, Inc. will post 4.23 earnings per share for the current fiscal year.

Orrstown Financial Services Announces Dividend

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

About Orrstown Financial Services

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.