Fmr LLC Has $6.42 Million Position in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

FMR LLC increased its position in Orrstown Financial Services, Inc. (NASDAQ:ORRF - Free Report) by 9.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 178,478 shares of the bank's stock after buying an additional 14,711 shares during the period. FMR LLC owned about 0.92% of Orrstown Financial Services worth $6,418,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC lifted its position in shares of Orrstown Financial Services by 227.9% during the 2nd quarter. CWM LLC now owns 1,692 shares of the bank's stock valued at $46,000 after buying an additional 1,176 shares in the last quarter. SG Americas Securities LLC acquired a new position in Orrstown Financial Services in the second quarter valued at approximately $154,000. Quest Partners LLC acquired a new stake in shares of Orrstown Financial Services in the third quarter valued at approximately $155,000. Fulton Bank N.A. acquired a new position in Orrstown Financial Services in the 3rd quarter valued at $209,000. Finally, Beese Fulmer Investment Management Inc. acquired a new position in Orrstown Financial Services during the third quarter worth $242,000. Institutional investors own 44.27% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Activity

In related 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 transaction 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 approximately $789,568.14. This represents a 16.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.30% of the company's stock.

Orrstown Financial Services Stock Performance

Orrstown Financial Services stock traded down $0.12 on Friday, reaching $38.78. 70,056 shares of the stock were exchanged, compared to its average volume of 81,890. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average price of $38.44 and a two-hundred day moving average price of $33.70. The stock has a market cap of $751.94 million, a PE ratio of 20.91 and a beta of 0.90. Orrstown Financial Services, Inc. has a twelve month low of $24.70 and a twelve month high of $41.99.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The bank reported $1.11 EPS for the quarter, beating the consensus estimate 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 business had revenue of $95.37 million for the quarter, compared to analyst estimates of $60.90 million. Sell-side analysts anticipate that Orrstown Financial Services, Inc. will post 4 EPS for the current year.

Orrstown Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date was Tuesday, November 5th. Orrstown Financial Services's payout ratio is currently 49.46%.

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.