SG Americas Securities LLC Sells 1,151 Shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF)

SG Americas Securities LLC cut its stake in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) by 12.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,167 shares of the bank’s stock after selling 1,151 shares during the quarter. SG Americas Securities LLC’s holdings in Orrstown Financial Services were worth $299,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ORRF. Barclays PLC grew its holdings in Orrstown Financial Services by 120.4% during the 3rd quarter. Barclays PLC now owns 33,721 shares of the bank’s stock worth $1,212,000 after acquiring an additional 18,422 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Orrstown Financial Services by 206.0% in the third quarter. Empowered Funds LLC now owns 72,563 shares of the bank’s stock worth $2,609,000 after purchasing an additional 48,851 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in Orrstown Financial Services in the third quarter valued at $478,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Orrstown Financial Services by 110.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,387 shares of the bank’s stock worth $1,596,000 after purchasing an additional 23,333 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Orrstown Financial Services by 503.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 158,029 shares of the bank’s stock worth $5,683,000 after buying an additional 131,845 shares during the period. 44.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ORRF. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $42.00 price target (down previously from $46.00) on shares of Orrstown Financial Services in a research note on Monday. Piper Sandler began 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. Finally, Hovde Group downgraded 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 Trading Down 0.1 %

Shares of ORRF stock opened at $34.30 on Thursday. Orrstown Financial Services, Inc. has a fifty-two week low of $24.70 and a fifty-two week high of $41.99. 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 stock has a 50 day simple moving average of $36.84 and a two-hundred day simple moving average of $36.28. The company has a market cap of $664.94 million, a P/E ratio of 18.64 and a beta of 0.90.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings data on Friday, January 31st. The bank reported $0.87 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.17). Orrstown Financial Services had a return on equity of 15.77% and a net margin of 7.70%. Research analysts forecast that Orrstown Financial Services, Inc. will post 4.37 earnings per share for the current year.

Orrstown Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 14th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Orrstown Financial Services’s previous quarterly dividend of $0.23. Orrstown Financial Services’s dividend payout ratio is 56.52%.

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.