1 week Ago By Defense World Staff
Corebridge Financial Inc. lessened its holdings in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF – Free Report) by 5.
9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,228 shares of the bank’s stock after selling 576 shares during the quarter. Corebridge Financial Inc.
’s holdings in Orrstown Financial Services were worth $338,000 at the end of the most recent reporting period. A number of other institutional investors have also recently added to or reduced their stakes in ORRF. PL Capital Advisors LLC lifted its stake in shares of Orrstown Financial Services by 3,561.
0% in the 4th quarter. PL Capital Advisors LLC now owns 2,356,073 shares of the bank’s stock valued at $86,256,000 after purchasing an additional 2,291,717 shares during the last quarter. Vanguard Group Inc.
lifted its position in shares of Orrstown Financial Services by 6.2% in the fourth quarter. Vanguard Group Inc.
now owns 1,042,866 shares of the bank’s stock worth $38,179,000 after buying an additional 61,081 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Orrstown Financial Services by 32.2% during the 3rd quarter.
Geode Capital Management LLC now owns 434,228 shares of the bank’s stock worth $15,617,000 after acquiring an additional 105,735 shares in the last quarter. State Street Corp increased its holdings in shares of Orrstown Financial Services by 12.8% during the 3rd quarter.
State Street Corp now owns 342,119 shares of the bank’s stock valued at $12,303,000 after acquiring an additional 38,886 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Orrstown Financial Services by 0.
3% in the 4th quarter. American Century Companies Inc. now owns 228,067 shares of the bank’s stock valued at $8,350,000 after acquiring an additional 755 shares in the last quarter.
44.27% of the stock is currently owned by institutional investors and hedge funds. Insider ActivityIn other Orrstown Financial Services news, Director John W.
Giambalvo bought 1,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were acquired at an average cost of $30.80 per share, for a total transaction of $30,800.
00. Following the transaction, the director now owns 40,562 shares in the company, valued at approximately $1,249,309.60.
The trade was a 2.53 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.
Also, Director Scott V. Fainor purchased 3,000 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was acquired at an average cost of $31.
17 per share, with a total value of $93,510.00. Following the transaction, the director now directly owns 13,396 shares of the company’s stock, valued at approximately $417,553.
32. This represents a 28.86 % increase in their ownership of the stock.
The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 6,800 shares of company stock worth $211,892. Company insiders own 5.
30% of the company’s stock. Analysts Set New Price TargetsSeveral equities analysts have commented on ORRF shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $42.
00 price target (down previously from $46.00) on shares of Orrstown Financial Services in a report on Monday, February 3rd. Raymond James started coverage on shares of Orrstown Financial Services in a research note on Thursday.
They issued an “outperform” rating and a $35.00 target price on the stock. Finally, Piper Sandler began coverage on shares of Orrstown Financial Services in a report on Wednesday, January 8th.
They issued an “overweight” rating and a $43.00 target price on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company.
Based on data from MarketBeat, Orrstown Financial Services currently has an average rating of “Moderate Buy” and an average price target of $38.80.Check Out Our Latest Analysis on Orrstown Financial ServicesOrrstown Financial Services Price PerformanceNASDAQ:ORRF opened at $26.
31 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.
88 and a quick ratio of 0.88. Orrstown Financial Services, Inc.
has a one year low of $24.70 and a one year high of $41.99.
The company has a fifty day moving average price of $31.33 and a 200 day moving average price of $35.25.
The stock has a market cap of $513.18 million, a P/E ratio of 14.30 and a beta of 0.
78. Orrstown Financial Services (NASDAQ:ORRF – Get Free Report) last released its earnings results on Friday, January 31st. The bank reported $0.
87 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.17).
Orrstown Financial Services had a net margin of 7.70% and a return on equity of 15.77%.
Analysts anticipate that Orrstown Financial Services, Inc. will post 4.23 earnings per share for the current year.
Orrstown Financial Services Increases DividendThe company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 14th were issued a dividend of $0.26 per share.
This represents a $1.04 annualized dividend and a dividend yield of 3.95%.
The ex-dividend date was Friday, February 14th. This is a positive change from Orrstown Financial Services’s previous quarterly dividend of $0.23.
Orrstown Financial Services’s dividend payout ratio (DPR) is presently 56.52%. About Orrstown Financial Services (Free Report)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.Further ReadingFive stocks we like better than Orrstown Financial ServicesWhat is a Secondary Public Offering? What Investors Need to KnowJoby Aviation: Operational Momentum vs. Market SentimentWhat is Short Interest? How to Use ItBroadcom’s Big Outperformance Shows Strength Amid Tariff DeclineShort Selling – The Pros and Cons Carvana: Can Turnaround Strength Outdrive Market Headwinds?Want to see what other hedge funds are holding ORRF? Visit HoldingsChannel.
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