Emerald Mutual Fund Advisers Trust Makes New $2.59 Million Investment in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Emerald Mutual Fund Advisers Trust bought a new stake in Orrstown Financial Services, Inc. (NASDAQ:ORRF - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 72,084 shares of the bank's stock, valued at approximately $2,592,000. Emerald Mutual Fund Advisers Trust owned about 0.37% of Orrstown Financial Services at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in ORRF. Quadrature Capital Ltd raised its position in shares of Orrstown Financial Services by 273.6% in the first quarter. Quadrature Capital Ltd now owns 29,666 shares of the bank's stock valued at $793,000 after buying an additional 21,725 shares in the last quarter. American Century Companies Inc. increased its stake in Orrstown Financial Services by 37.9% during the 2nd quarter. American Century Companies Inc. now owns 149,259 shares of the bank's stock worth $4,084,000 after acquiring an additional 41,016 shares during the period. Inspire Investing LLC acquired a new position in Orrstown Financial Services in the 2nd quarter valued at $846,000. AQR Capital Management LLC bought a new stake in shares of Orrstown Financial Services during the 2nd quarter valued at $1,048,000. Finally, Bank of New York Mellon Corp grew its holdings 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 worth $2,039,000 after purchasing an additional 6,200 shares in the last quarter. Institutional investors own 44.27% of the company's stock.

Insider Buying and Selling

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 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.30% of the stock is currently owned by insiders.

Orrstown Financial Services Stock Down 0.5 %

ORRF traded down $0.18 during midday trading on Monday, hitting $37.20. The company had a trading volume of 64,021 shares, compared to its average volume of 76,723. The stock's 50 day moving average price is $35.86 and its 200 day moving average price is $31.08. Orrstown Financial Services, Inc. has a 52 week low of $21.33 and a 52 week high of $38.81. The company has a market capitalization of $720.60 million, a price-to-earnings ratio of 19.97 and a beta of 0.89. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The bank reported $1.11 EPS for the quarter, topping 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 17.66%. The company had revenue of $95.37 million during the quarter, compared to the consensus estimate of $60.90 million. On average, research analysts anticipate that Orrstown Financial Services, Inc. will post 4 earnings per share for the current fiscal year.

Orrstown Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Tuesday, November 5th. Orrstown Financial Services's dividend payout ratio is currently 49.46%.

Wall Street Analysts Forecast Growth

Separately, Hovde Group boosted their price objective on Orrstown Financial Services from $37.00 to $42.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd.

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.