FMR LLC & Abigail Johnson Trim Orrstown Financial Stake to 5.303%
Ticker: ORRF · Form: SC 13G/A · Filed: Feb 9, 2024 · CIK: 826154
| Field | Detail |
|---|---|
| Company | Orrstown Financial Services Inc (ORRF) |
| Form Type | SC 13G/A |
| Filed Date | Feb 9, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investing
TL;DR
**FMR LLC and Abigail Johnson still own over 5% of Orrstown Financial, but their reported stake is slightly down.**
AI Summary
FMR LLC, a major investment firm, and its principal owner, Abigail P. Johnson, have updated their ownership stake in Orrstown Financial Services Inc. (ORRSTOWN FINL SVCS INC). As of February 9, 2024, they collectively beneficially own 562,844 shares of common stock, representing 5.303% of the company. This is an amendment to a previous filing, indicating a slight adjustment in their reported holdings, which matters to investors as it shows a significant institutional holder maintaining a substantial, though slightly reduced, position in the regional bank.
Why It Matters
This filing shows that a major institutional investor, FMR LLC, and its leader, Abigail P. Johnson, still hold a significant stake in Orrstown Financial Services, signaling their continued, albeit slightly adjusted, interest in the company.
Risk Assessment
Risk Level: low — The filing indicates a minor adjustment in a significant institutional holding, not a major divestment or acquisition, posing low immediate risk.
Analyst Insight
A smart investor would note that a major institutional holder like FMR LLC is maintaining a substantial, though slightly adjusted, position in Orrstown Financial Services, suggesting continued confidence in the company's long-term prospects, but also that their stake is not increasing.
Key Numbers
- 562,844 — Shares Beneficially Owned (Total common stock shares of Orrstown Financial Services Inc. owned by FMR LLC and Abigail P. Johnson as of February 9, 2024.)
- 5.303% — Percent of Class (The percentage of Orrstown Financial Services Inc.'s common stock beneficially owned by FMR LLC and Abigail P. Johnson.)
- 0 — Shared Power to Vote (Number of shares over which FMR LLC and Abigail P. Johnson have shared power to vote or direct the vote.)
- 562,523 — Sole Voting Power (FMR LLC) (Number of shares over which FMR LLC has sole power to vote or direct the vote, as per Item 5 on the cover page.)
- 0 — Sole Voting Power (Abigail P. Johnson) (Number of shares over which Abigail P. Johnson has sole power to vote or direct the vote, as per Item 5 on the cover page.)
Key Players & Entities
- FMR LLC (company) — reporting person and parent holding company
- Abigail P. Johnson (person) — reporting person and principal owner of FMR LLC
- ORRSTOWN FINANCIAL SERVICES INC (company) — the issuer of the securities
- 02 Finance (company) — organization name associated with Orrstown Financial Services Inc.
Forward-Looking Statements
- FMR LLC will maintain a significant, but potentially fluctuating, stake in Orrstown Financial Services Inc. over the next year. (FMR LLC) — medium confidence, target: 2025-02-09
FAQ
Who filed this SC 13G/A amendment?
This SC 13G/A amendment was filed by FMR LLC and Abigail P. Johnson, as indicated in Item 1 and the reporting person sections of the filing.
What percentage of Orrstown Financial Services Inc. common stock do the reporting persons beneficially own?
FMR LLC and Abigail P. Johnson beneficially own 5.303% of the common stock of Orrstown Financial Services Inc., as stated in Item 11 and Item 4(b) of the filing.
How many shares of Orrstown Financial Services Inc. common stock are beneficially owned by the reporting persons?
The reporting persons, FMR LLC and Abigail P. Johnson, beneficially own a total of 562,844 shares of Orrstown Financial Services Inc. common stock, as detailed in Item 7 and Item 4(a) of the filing.
What is the CUSIP number for Orrstown Financial Services Inc. common stock?
The CUSIP number for Orrstown Financial Services Inc. common stock is 687380105, as specified in the filing's cover page and Item 2(e).
Under which rule is this Schedule 13G filed?
This Schedule 13G is filed pursuant to Rule 13d-1(b), as indicated by the checked box on the cover page and in Item 3, with FMR LLC being a parent holding company in accordance with Section 240.13d-1(b)(1)(ii)(G).
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 9, 2024 by Abigail P. Johnson regarding ORRSTOWN FINANCIAL SERVICES INC (ORRF).