Tudor Investment Corp ET AL Makes New Investment in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Tudor Investment Corp ET AL acquired a new stake in Orrstown Financial Services, Inc. (NASDAQ:ORRF) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 39,803 shares of the bank’s stock, valued at approximately $1,457,000.

Other hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. increased its position in Orrstown Financial Services by 36.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 55,297 shares of the bank’s stock valued at $2,024,000 after acquiring an additional 14,894 shares during the period. Barclays PLC increased its holdings in shares of Orrstown Financial Services by 120.4% in the third quarter. Barclays PLC now owns 33,721 shares of the bank’s stock valued at $1,212,000 after purchasing an additional 18,422 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Orrstown Financial Services by 36.3% during the third quarter. JPMorgan Chase & Co. now owns 89,407 shares of the bank’s stock worth $3,215,000 after purchasing an additional 23,819 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Orrstown Financial Services during the third quarter worth $478,000. Finally, Swiss National Bank purchased a new position in Orrstown Financial Services in the 4th quarter valued at $1,395,000. 44.27% of the stock is currently owned by hedge funds and other institutional investors.

Orrstown Financial Services Trading Down 0.6 %

Shares of Orrstown Financial Services stock opened at $30.17 on Tuesday. The company has a 50-day moving average of $29.43 and a two-hundred day moving average of $34.35. Orrstown Financial Services, Inc. has a 12-month low of $24.91 and a 12-month high of $41.99. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. The stock has a market cap of $588.47 million, a PE ratio of 16.40 and a beta of 0.78.

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

Orrstown Financial Services Dividend Announcement

The firm 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. The ex-dividend date is Tuesday, May 6th. This represents a $1.04 annualized dividend and a dividend yield of 3.45%. Orrstown Financial Services’s dividend payout ratio is presently 53.06%.

Analyst Upgrades and Downgrades

ORRF has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reduced their target price on shares of Orrstown Financial Services from $40.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Piper Sandler initiated coverage on Orrstown Financial Services in a report on Wednesday, January 8th. They issued an “overweight” rating and a $43.00 price objective on the stock. Raymond James began coverage on Orrstown Financial Services in a research note on Thursday, April 10th. They set an “outperform” rating and a $35.00 target price for the company. Finally, Hovde Group upgraded Orrstown Financial Services from a “market perform” rating to an “outperform” rating and set a $35.00 price target on the stock in a research note on Wednesday, April 30th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Orrstown Financial Services currently has a consensus rating of “Buy” and a consensus price target of $36.40.

Insider Activity at Orrstown Financial Services

In related news, Director Scott V. Fainor acquired 3,000 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were acquired at an average price of $31.17 per share, with a total value of $93,510.00. Following the completion of the purchase, the director now directly owns 13,396 shares in the company, valued at approximately $417,553.32. The trade was a 28.86 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John W. Giambalvo acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average price of $30.80 per share, with a total value of $30,800.00. Following the transaction, the director now owns 40,562 shares in the company, valued at $1,249,309.60. This represents a 2.53 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 6,500 shares of company stock valued at $201,485. Insiders own 4.70% of the company’s stock.

Orrstown Financial Services 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.