Los Angeles Capital Management LLC boosted its holdings in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF - Free Report) by 139.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,750 shares of the bank's stock after purchasing an additional 38,859 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.34% of Orrstown Financial Services worth $2,400,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. EntryPoint Capital LLC purchased a new position in shares of Orrstown Financial Services in the first quarter valued at approximately $31,000. CWM LLC lifted its position in shares of Orrstown Financial Services by 227.9% in the second quarter. CWM LLC now owns 1,692 shares of the bank's stock valued at $46,000 after acquiring an additional 1,176 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of 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 acquiring an additional 2,518 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Orrstown Financial Services in the second quarter valued at approximately $154,000. Finally, Fulton Bank N.A. purchased a new position in shares of Orrstown Financial Services in the third quarter valued at approximately $209,000. Hedge funds and other institutional investors own 44.27% of the company's stock.
Wall Street Analyst Weigh In
Separately, Hovde Group cut Orrstown Financial Services from an "outperform" rating to a "market perform" rating in a report on Wednesday.
View Our Latest Research Report on ORRF
Insider Activity at Orrstown Financial Services
In related news, EVP David Todd Hornberger sold 4,000 shares of Orrstown Financial Services stock in a transaction 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 directly owns 20,877 shares in the company, valued at approximately $789,568.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.30% of the stock is currently owned by company insiders.
Orrstown Financial Services Price Performance
Shares of NASDAQ:ORRF traded down $0.30 during midday trading on Wednesday, hitting $40.84. The company had a trading volume of 136,515 shares, compared to its average volume of 79,586. Orrstown Financial Services, Inc. has a twelve month low of $22.44 and a twelve month high of $41.99. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market cap of $791.07 million, a price-to-earnings ratio of 21.96 and a beta of 0.89. The business's 50-day simple moving average is $36.54 and its 200-day simple moving average is $31.82.
Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last posted 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. The firm had revenue of $95.37 million during the quarter, compared to analysts' expectations of $60.90 million. Orrstown Financial Services had a return on equity of 17.66% and a net margin of 6.63%. On average, research analysts predict that Orrstown Financial Services, Inc. will post 4 earnings per share for the current year.
Orrstown Financial Services Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Tuesday, November 5th were issued a $0.23 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $0.92 dividend on an annualized basis and a yield of 2.25%. Orrstown Financial Services's dividend payout ratio (DPR) is presently 49.46%.
About Orrstown Financial Services
(
Free Report)
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.
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