Orrstown Financial Services, Inc. (NASDAQ:ORRF) Shares Purchased by Martingale Asset Management L P

Martingale Asset Management L P raised its holdings in Orrstown Financial Services, Inc. (NASDAQ:ORRF) by 76.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 14,807 shares of the bank’s stock after acquiring an additional 6,400 shares during the period. Martingale Asset Management L P owned 0.08% of Orrstown Financial Services worth $532,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Orrstown Financial Services by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 547,755 shares of the bank’s stock worth $14,663,000 after acquiring an additional 5,332 shares during the period. CWM LLC raised its stake 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 during the period. SG Americas Securities LLC acquired a new position in shares of Orrstown Financial Services in the 2nd quarter valued at $154,000. Bank of New York Mellon Corp grew its stake in shares of Orrstown Financial Services by 9.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 74,528 shares of the bank’s stock valued at $2,039,000 after buying an additional 6,200 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of Orrstown Financial Services by 32.9% during the 2nd quarter. Rhumbline Advisers now owns 21,942 shares of the bank’s stock worth $600,000 after buying an additional 5,427 shares during the last quarter. Hedge funds and other institutional investors own 44.27% of the company’s stock.

Orrstown Financial Services Trading Down 1.2 %

Shares of ORRF stock opened at $39.33 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 fifty-two week low of $23.52 and a fifty-two week high of $41.99. The firm’s 50 day moving average price is $37.88 and its two-hundred day moving average price is $33.17. The stock has a market cap of $762.45 million, a price-to-earnings ratio of 21.15 and a beta of 0.90.

Orrstown Financial Services (NASDAQ:ORRF) last posted its earnings results on Tuesday, October 22nd. The bank reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.19. Orrstown Financial Services had a net margin of 6.63% and a return on equity of 14.41%. The business had revenue of $95.37 million for the quarter, compared to analyst estimates of $60.90 million. On average, analysts anticipate that Orrstown Financial Services, Inc. will post 4 EPS for the current year.

Orrstown Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th were paid a $0.23 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.34%. Orrstown Financial Services’s dividend payout ratio (DPR) is currently 49.46%.

Insider Activity at Orrstown Financial Services

In other Orrstown Financial Services news, EVP David Todd Hornberger sold 4,000 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $37.82, for a total value of $151,280.00. Following the completion of the transaction, the executive vice president now directly owns 20,877 shares of the company’s stock, valued at $789,568.14. This represents a 16.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 6.20% of the company’s stock.

Analyst Upgrades and Downgrades

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 Company 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.