Orrstown Financial Services, Inc. (NASDAQ:ORRF) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC lifted its stake in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) by 206.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 72,563 shares of the bank’s stock after buying an additional 48,851 shares during the quarter. Empowered Funds LLC’s holdings in Orrstown Financial Services were worth $2,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ORRF. EntryPoint Capital LLC purchased a new position in Orrstown Financial Services during the 1st quarter worth $31,000. CWM LLC raised its holdings in Orrstown Financial Services by 227.9% during the second quarter. CWM LLC now owns 1,692 shares of the bank’s stock worth $46,000 after purchasing an additional 1,176 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Orrstown Financial Services by 92.9% in the first quarter. BNP Paribas Financial Markets now owns 5,227 shares of the bank’s stock valued at $140,000 after purchasing an additional 2,518 shares during the period. SG Americas Securities LLC acquired a new stake in Orrstown Financial Services in the second quarter valued at about $154,000. Finally, Fulton Bank N.A. purchased a new stake in Orrstown Financial Services in the 3rd quarter valued at approximately $209,000. 44.27% of the stock is currently owned by hedge funds and other institutional investors.

Orrstown Financial Services Stock Performance

Shares of ORRF opened at $39.92 on Wednesday. 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, Inc. has a 52-week low of $22.86 and a 52-week high of $41.99. The company has a 50-day simple moving average of $36.98 and a 200-day simple moving average of $32.25. The company has a market capitalization of $774.05 million, a PE ratio of 21.46 and a beta of 0.89.

Orrstown Financial Services (NASDAQ:ORRF) last issued its earnings results on Tuesday, October 22nd. The bank reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.19. The company 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%. Equities research analysts predict that Orrstown Financial Services, Inc. will post 4 earnings per share for the current fiscal year.

Orrstown Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Tuesday, November 5th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.92 annualized dividend and a yield of 2.30%. Orrstown Financial Services’s dividend payout ratio is presently 49.46%.

Insiders Place Their Bets

In other Orrstown Financial Services news, EVP David Todd Hornberger sold 4,000 shares of Orrstown Financial Services stock in a transaction dated 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 in the company, valued at approximately $789,568.14. The trade was a 16.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 6.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Hovde Group cut Orrstown Financial Services from an “outperform” rating to a “market perform” rating in a 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.