13,290 Shares in Orrstown Financial Services, Inc. (NASDAQ:ORRF) Bought by Principal Financial Group Inc.

Principal Financial Group Inc. bought a new stake in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 13,290 shares of the bank’s stock, valued at approximately $478,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CWM LLC grew its position in shares of Orrstown Financial Services by 31.0% during the third quarter. CWM LLC now owns 2,217 shares of the bank’s stock valued at $80,000 after purchasing an additional 525 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Orrstown Financial Services during the 3rd quarter valued at about $155,000. Fulton Bank N.A. bought a new position in shares of Orrstown Financial Services in the 3rd quarter valued at about $209,000. Y Intercept Hong Kong Ltd purchased a new position in Orrstown Financial Services in the third quarter worth about $227,000. Finally, Beese Fulmer Investment Management Inc. bought a new stake in Orrstown Financial Services during the third quarter worth approximately $242,000. 44.27% of the stock is currently owned by institutional investors.

Orrstown Financial Services Stock Up 0.5 %

Shares of Orrstown Financial Services stock opened at $36.10 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $699.83 million, a price-to-earnings ratio of 19.41 and a beta of 0.91. The firm’s 50-day moving average is $38.63 and its two-hundred day moving average is $35.01. Orrstown Financial Services, Inc. has a 1 year low of $24.70 and a 1 year high of $41.99.

Orrstown Financial Services (NASDAQ:ORRF) last announced its earnings results on Tuesday, October 22nd. The bank reported $1.11 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $95.37 million for the quarter, compared to the consensus estimate of $60.90 million. As a group, research analysts expect that Orrstown Financial Services, Inc. will post 4 earnings per share for the current fiscal year.

Orrstown Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Tuesday, November 5th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend was Tuesday, November 5th. Orrstown Financial Services’s dividend payout ratio (DPR) is presently 49.46%.

Insider Buying and Selling

In related news, EVP David Todd Hornberger sold 4,000 shares of Orrstown Financial Services stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $37.82, for a total value of $151,280.00. Following the sale, the executive vice president now directly owns 20,877 shares in the company, valued at approximately $789,568.14. The trade was a 16.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Hovde Group lowered Orrstown Financial Services from an “outperform” rating to a “market perform” rating in a research note 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.