Orrstown Financial Services, Inc. (NASDAQ:ORRF) Shares Acquired by Jane Street Group LLC

Jane Street Group LLC boosted its holdings in Orrstown Financial Services, Inc. (NASDAQ:ORRF) by 21.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,768 shares of the bank’s stock after purchasing an additional 3,680 shares during the quarter. Jane Street Group LLC’s holdings in Orrstown Financial Services were worth $747,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. CWM LLC boosted its holdings in shares of Orrstown Financial Services by 31.0% in the 3rd quarter. CWM LLC now owns 2,217 shares of the bank’s stock valued at $80,000 after buying an additional 525 shares during the period. Segall Bryant & Hamill LLC lifted its holdings in Orrstown Financial Services by 1.7% in the third quarter. Segall Bryant & Hamill LLC now owns 124,652 shares of the bank’s stock worth $4,482,000 after acquiring an additional 2,143 shares during the last quarter. RKL Wealth Management LLC lifted 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 worth $442,000 after acquiring an additional 2,281 shares during the last quarter. SG Americas Securities LLC boosted its stake 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 acquiring an additional 3,682 shares during the period. Finally, Quest Partners LLC bought a new position in shares of Orrstown Financial Services during the third quarter valued at approximately $155,000. Institutional investors own 44.27% of the company’s stock.

Orrstown Financial Services Stock Down 1.9 %

ORRF stock opened at $35.91 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.13. The firm’s 50-day simple moving average is $38.65 and its 200 day simple moving average is $34.87. The stock has a market cap of $696.15 million, a PE ratio of 19.31 and a beta of 0.90. Orrstown Financial Services, Inc. has a fifty-two week low of $24.70 and a fifty-two week high of $41.99.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings results on Tuesday, October 22nd. The bank reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $95.37 million for the quarter, compared to analysts’ expectations of $60.90 million. As a group, sell-side analysts predict that Orrstown Financial Services, Inc. will post 4 EPS for the current year.

Orrstown Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, November 5th. This represents a $0.92 dividend on an annualized basis and a yield of 2.56%. Orrstown Financial Services’s dividend payout ratio (DPR) is presently 49.46%.

Analysts Set New Price Targets

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

Insider Transactions at Orrstown Financial Services

In other news, EVP David Todd Hornberger sold 4,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 20,877 shares in the company, valued at $789,568.14. This trade represents a 16.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 5.30% of the company’s stock.

Orrstown Financial Services Company 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.