VSM Wealth Advisory LLC Invests $47,000 in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

VSM Wealth Advisory LLC bought a new stake in Orrstown Financial Services, Inc. (NASDAQ:ORRF) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,288 shares of the bank’s stock, valued at approximately $47,000.

A number of other hedge funds have also made changes to their positions in the stock. Comprehensive Financial Planning Inc. PA acquired a new stake in Orrstown Financial Services in the fourth quarter worth $38,000. R Squared Ltd bought a new position in shares of Orrstown Financial Services in the fourth quarter valued at $42,000. Stonebridge Financial Group LLC acquired a new stake in Orrstown Financial Services during the 4th quarter worth about $92,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Orrstown Financial Services during the fourth quarter valued at approximately $123,000. Finally, Quest Partners LLC purchased a new stake in shares of Orrstown Financial Services in the third quarter valued at $155,000. Institutional investors and hedge funds own 44.27% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ORRF. 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 target price for the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $42.00 price target (down from $46.00) on shares of Orrstown Financial Services in a report on Monday, February 3rd.

Orrstown Financial Services Stock Up 0.2 %

Shares of ORRF opened at $30.80 on Thursday. Orrstown Financial Services, Inc. has a 52 week low of $24.70 and a 52 week high of $41.99. The firm has a market capitalization of $597.09 million, a price-to-earnings ratio of 16.74 and a beta of 0.87. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 0.88. The business’s fifty day moving average price is $33.83 and its two-hundred day moving average price is $36.05.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings results on Friday, January 31st. The bank reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.17). Orrstown Financial Services had a net margin of 7.70% and a return on equity of 15.77%. On average, 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 declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 14th were given a dividend of $0.26 per share. The ex-dividend date 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 yield of 3.38%. Orrstown Financial Services’s dividend payout ratio is 56.52%.

Insider Activity at Orrstown Financial Services

In other news, Director John W. Giambalvo acquired 1,000 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were purchased at an average cost of $30.80 per share, with a total value of $30,800.00. Following the acquisition, the director now directly owns 40,562 shares in the company, valued at $1,249,309.60. This represents a 2.53 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 5.30% of the stock is owned by company insiders.

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.