Orrstown Financial Services, Inc. (NASDAQ:ORRF) Stock Holdings Boosted by Fourthstone LLC

Fourthstone LLC lifted its position in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) by 223.8% in the 3rd quarter, Holdings Channel reports. The fund owned 1,811,825 shares of the bank’s stock after buying an additional 1,252,356 shares during the quarter. Orrstown Financial Services accounts for approximately 14.5% of Fourthstone LLC’s holdings, making the stock its largest position. Fourthstone LLC owned about 0.09% of Orrstown Financial Services worth $65,153,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ORRF. CWM LLC grew its position in shares of Orrstown Financial Services by 227.9% in the second quarter. CWM LLC now owns 1,692 shares of the bank’s stock valued at $46,000 after purchasing an additional 1,176 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Orrstown Financial Services during the second quarter valued at about $154,000. Quest Partners LLC bought a new position in Orrstown Financial Services in the 3rd quarter valued at $155,000. Fulton Bank N.A. bought a new stake in Orrstown Financial Services during the third quarter valued at $209,000. Finally, Beese Fulmer Investment Management Inc. bought a new position in shares of Orrstown Financial Services in the third quarter worth approximately $242,000. Hedge funds and other institutional investors own 44.27% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity at Orrstown Financial Services

In other news, EVP David Todd Hornberger sold 4,000 shares of Orrstown Financial Services stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $37.82, for a total transaction 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 approximately $789,568.14. This trade represents a 16.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.20% of the stock is currently owned by corporate insiders.

Orrstown Financial Services Trading Down 0.4 %

Shares of ORRF stock traded down $0.15 during trading hours on Thursday, reaching $39.63. The company’s stock had a trading volume of 90,768 shares, compared to its average volume of 82,096. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. Orrstown Financial Services, Inc. has a one year low of $22.86 and a one year high of $41.99. The stock has a market capitalization of $768.43 million, a P/E ratio of 21.31 and a beta of 0.89. The firm’s fifty day simple moving average is $37.58 and its 200 day simple moving average is $32.77.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings data 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 14.41%. The business had revenue of $95.37 million during the quarter, compared to analyst estimates of $60.90 million. Equities research analysts expect that Orrstown Financial Services, Inc. will post 4 EPS for the current year.

Orrstown Financial Services Announces Dividend

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

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.