Barclays PLC Increases Position in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Barclays PLC lifted its holdings in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF - Free Report) by 120.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,721 shares of the bank's stock after purchasing an additional 18,422 shares during the quarter. Barclays PLC owned 0.17% of Orrstown Financial Services worth $1,212,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ORRF. CWM LLC increased its position in shares of Orrstown Financial Services by 31.0% during the 3rd quarter. CWM LLC now owns 2,217 shares of the bank's stock valued at $80,000 after purchasing an additional 525 shares during the last quarter. Quest Partners LLC purchased a new stake in Orrstown Financial Services in the third quarter worth approximately $155,000. Fulton Bank N.A. bought a new position in Orrstown Financial Services during the third quarter valued at approximately $209,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Orrstown Financial Services in the 3rd quarter worth approximately $227,000. Finally, Beese Fulmer Investment Management Inc. bought a new stake in Orrstown Financial Services in the third quarter worth $242,000. 44.27% of the stock is owned by hedge funds and other institutional investors.

Orrstown Financial Services Trading Up 0.0 %

ORRF traded up $0.01 during trading on Monday, hitting $36.50. 53,155 shares of the stock traded hands, compared to its average volume of 82,454. The firm has a market capitalization of $707.59 million, a P/E ratio of 19.62 and a beta of 0.90. Orrstown Financial Services, Inc. has a 12-month low of $24.70 and a 12-month high of $41.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a 50-day moving average of $38.70 and a 200 day moving average of $34.70.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last announced its quarterly 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. Orrstown Financial Services had a return on equity of 14.41% and a net margin of 6.63%. The company had revenue of $95.37 million for the quarter, compared to the consensus estimate of $60.90 million. Equities research analysts anticipate that Orrstown Financial Services, Inc. will post 4 EPS for the current year.

Orrstown Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Tuesday, November 5th. Orrstown Financial Services's payout ratio is currently 49.46%.

Analyst Upgrades and Downgrades

Separately, Hovde Group downgraded Orrstown Financial Services from an "outperform" rating to a "market perform" rating in a report on Wednesday, November 13th.

Insiders Place Their Bets

In other news, EVP David Todd Hornberger sold 4,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was 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 owns 20,877 shares of the company's stock, valued at approximately $789,568.14. This represents a 16.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.30% of the company's stock.

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.