Thrivent Financial for Lutherans Invests $921,000 in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Thrivent Financial for Lutherans bought a new position in Orrstown Financial Services, Inc. (NASDAQ:ORRF) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 25,158 shares of the bank’s stock, valued at approximately $921,000.

Other hedge funds have also added to or reduced their stakes in the company. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Orrstown Financial Services in the 4th quarter valued at about $38,000. R Squared Ltd bought a new stake in Orrstown Financial Services in the fourth quarter valued at approximately $42,000. Stonebridge Financial Group LLC purchased a new stake in shares of Orrstown Financial Services during the fourth quarter valued at approximately $92,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Orrstown Financial Services during the fourth quarter valued at approximately $123,000. Finally, Arizona State Retirement System bought a new position in shares of Orrstown Financial Services in the fourth quarter worth approximately $206,000. 44.27% of the stock is owned by institutional investors.

Insider Transactions at Orrstown Financial Services

In other news, Director Brian D. Brunner purchased 2,500 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was acquired at an average cost of $30.87 per share, for a total transaction of $77,175.00. Following the purchase, the director now directly owns 49,330 shares in the company, valued at $1,522,817.10. This trade represents a 5.34 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott V. Fainor purchased 3,000 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was acquired at an average price of $31.17 per share, for a total transaction of $93,510.00. Following the completion of the transaction, the director now directly owns 13,396 shares of the company’s stock, valued at approximately $417,553.32. This trade represents a 28.86 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 6,800 shares of company stock valued at $211,892 in the last quarter. 5.30% of the stock is owned by insiders.

Orrstown Financial Services Stock Performance

Shares of ORRF stock opened at $29.68 on Wednesday. The firm has a market capitalization of $575.38 million, a price-to-earnings ratio of 16.13 and a beta of 0.87. The stock has a fifty day moving average of $32.94 and a 200 day moving average of $35.78. Orrstown Financial Services, Inc. has a 52 week low of $24.70 and a 52 week high of $41.99. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.13.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly 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 return on equity of 15.77% and a net margin of 7.70%. As a group, research analysts expect 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. Stockholders of record on Friday, February 14th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Orrstown Financial Services’s previous quarterly dividend of $0.23. This represents a $1.04 annualized dividend and a dividend yield of 3.50%. Orrstown Financial Services’s dividend payout ratio (DPR) is presently 56.52%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. 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 price target on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $42.00 target price (down from $46.00) on shares of Orrstown Financial Services in a research note on Monday, February 3rd.

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.