15,993 Shares in Orrstown Financial Services, Inc. (NASDAQ:ORRF) Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA acquired a new stake in Orrstown Financial Services, Inc. (NASDAQ:ORRF - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 15,993 shares of the bank's stock, valued at approximately $575,000. Massachusetts Financial Services Co. MA owned about 0.08% of Orrstown Financial Services at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC increased its stake in shares of Orrstown Financial Services by 206.0% in the 3rd quarter. Empowered Funds LLC now owns 72,563 shares of the bank's stock valued at $2,609,000 after acquiring an additional 48,851 shares during the last quarter. PL Capital Advisors LLC acquired a new position in Orrstown Financial Services during the third quarter valued at approximately $2,314,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Orrstown Financial Services by 110.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,387 shares of the bank's stock worth $1,596,000 after purchasing an additional 23,333 shares during the period. Principal Financial Group Inc. bought a new position in shares of Orrstown Financial Services during the third quarter worth $478,000. Finally, American Century Companies Inc. grew its holdings in shares of Orrstown Financial Services by 37.9% in the 2nd quarter. American Century Companies Inc. now owns 149,259 shares of the bank's stock valued at $4,084,000 after buying an additional 41,016 shares during the period. Institutional investors and hedge funds own 44.27% of the company's stock.

Wall Street Analysts Forecast Growth

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

Orrstown Financial Services Stock Down 0.4 %

ORRF stock traded down $0.15 during mid-day trading on Thursday, hitting $39.63. 90,768 shares of the company were exchanged, compared to its average volume of 82,096. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 0.88. Orrstown Financial Services, Inc. has a 1-year low of $22.86 and a 1-year high of $41.99. The firm's 50 day simple moving average is $37.58 and its 200 day simple moving average is $32.77. The firm has a market cap of $768.43 million, a P/E ratio of 21.31 and a beta of 0.89.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last released its earnings results on Tuesday, October 22nd. The bank reported $1.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 14.41% and a net margin of 6.63%. On average, sell-side analysts predict that Orrstown Financial Services, Inc. will post 4 EPS for the current fiscal year.

Orrstown Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Tuesday, November 5th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Tuesday, November 5th. Orrstown Financial Services's dividend payout ratio is presently 49.46%.

Insider Buying and Selling at Orrstown Financial Services

In other Orrstown Financial Services news, EVP David Todd Hornberger sold 4,000 shares of the business's 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 sale, the executive vice president now directly owns 20,877 shares of the company's stock, valued at $789,568.14. The trade was a 16.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 6.20% 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.