Quest Partners LLC Buys Shares of 4,305 Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Quest Partners LLC purchased a new position in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,305 shares of the bank’s stock, valued at approximately $155,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC increased its stake in Orrstown Financial Services by 31.0% during the third quarter. CWM LLC now owns 2,217 shares of the bank’s stock worth $80,000 after acquiring an additional 525 shares during the last quarter. RKL Wealth Management LLC raised its holdings in Orrstown Financial Services by 22.8% in the third quarter. RKL Wealth Management LLC now owns 12,286 shares of the bank’s stock valued at $442,000 after acquiring an additional 2,281 shares in the last quarter. SG Americas Securities LLC increased its holdings in Orrstown Financial Services by 65.3% in the third quarter. SG Americas Securities LLC now owns 9,318 shares of the bank’s stock valued at $335,000 after buying an additional 3,682 shares during the last quarter. Vanguard Group Inc. increased its stake in Orrstown Financial Services by 1.0% during the first quarter. Vanguard Group Inc. now owns 547,755 shares of the bank’s stock valued at $14,663,000 after purchasing an additional 5,332 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Orrstown Financial Services by 32.9% in the second quarter. Rhumbline Advisers now owns 21,942 shares of the bank’s stock valued at $600,000 after acquiring an additional 5,427 shares during the period. Hedge funds and other institutional investors own 44.27% of the company’s stock.

Orrstown Financial Services Trading Down 0.4 %

Orrstown Financial Services stock opened at $39.63 on Friday. The firm’s 50 day moving average price is $37.58 and its two-hundred day moving average price is $32.77. The firm has a market cap of $768.43 million, a price-to-earnings ratio of 21.31 and a beta of 0.89. Orrstown Financial Services, Inc. has a 1 year low of $22.86 and a 1 year high of $41.99. 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 (NASDAQ:ORRF) last announced its quarterly earnings data on Tuesday, October 22nd. The bank reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.19. The firm had revenue of $95.37 million during the quarter, compared to the consensus estimate of $60.90 million. Orrstown Financial Services had a return on equity of 14.41% and a net margin of 6.63%. On average, research analysts predict that Orrstown Financial Services, Inc. will post 4 EPS for the current fiscal year.

Orrstown Financial Services Dividend Announcement

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

Insider Buying and Selling at Orrstown Financial Services

In other news, EVP David Todd Hornberger sold 4,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $37.82, for a total value of $151,280.00. Following 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 6.20% of the company’s stock.

Analyst Ratings Changes

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 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.