Johnson & White Wealth Management LLC Makes New $331,000 Investment in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Johnson & White Wealth Management LLC bought a new position in Orrstown Financial Services, Inc. (NASDAQ:ORRF) during the fourth quarter, Holdings Channel.com reports. The fund bought 9,211 shares of the bank’s stock, valued at approximately $331,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. CWM LLC boosted its stake in shares of Orrstown Financial Services by 31.0% during the third quarter. CWM LLC now owns 2,217 shares of the bank’s stock valued at $80,000 after purchasing an additional 525 shares in the last quarter. Segall Bryant & Hamill LLC boosted its stake in shares of Orrstown Financial Services by 1.7% during the third quarter. Segall Bryant & Hamill LLC now owns 124,652 shares of the bank’s stock valued at $4,482,000 after purchasing an additional 2,143 shares in the last quarter. RKL Wealth Management LLC boosted its stake in shares of Orrstown Financial Services by 22.8% during the third quarter. RKL Wealth Management LLC now owns 12,286 shares of the bank’s stock valued at $442,000 after purchasing an additional 2,281 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of Orrstown Financial Services by 21.5% during the third quarter. Jane Street Group LLC now owns 20,768 shares of the bank’s stock valued at $747,000 after purchasing an additional 3,680 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Orrstown Financial Services by 65.3% during the third quarter. SG Americas Securities LLC now owns 9,318 shares of the bank’s stock valued at $335,000 after purchasing an additional 3,682 shares in the last quarter. 44.27% of the stock is currently owned by institutional investors.

Orrstown Financial Services Trading Up 0.4 %

NASDAQ ORRF opened at $34.11 on Tuesday. The company has a fifty day simple moving average of $38.31 and a two-hundred day simple moving average of $35.47. 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 12-month low of $24.70 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.

Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings results on Tuesday, October 22nd. The bank reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.19. The business had revenue of $95.37 million during 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%. On average, analysts forecast that Orrstown Financial Services, Inc. will post 4 earnings per share for the current year.

Orrstown Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.70%. Orrstown Financial Services’s dividend payout ratio is currently 49.46%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

ORRF has been the subject of a number of analyst reports. Piper Sandler initiated coverage on shares of Orrstown Financial Services in a research report on Wednesday, January 8th. They set an “overweight” rating and a $43.00 target price for the company. Hovde Group cut shares of Orrstown Financial Services from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 13th.

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.