PL Capital Advisors LLC Purchases New Shares in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

PL Capital Advisors LLC acquired a new position in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 64,356 shares of the bank’s stock, valued at approximately $2,314,000. Orrstown Financial Services makes up approximately 0.8% of PL Capital Advisors LLC’s investment portfolio, making the stock its 20th largest holding.

Several other large investors have also recently bought and sold shares of ORRF. CWM LLC grew its stake in 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 last quarter. EntryPoint Capital LLC bought a new stake in shares of Orrstown Financial Services in the 1st quarter worth about $31,000. Empowered Funds LLC increased its holdings in shares of Orrstown Financial Services by 7.7% during the first quarter. Empowered Funds LLC now owns 22,092 shares of the bank’s stock worth $591,000 after buying an additional 1,575 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Orrstown Financial Services by 92.9% during the 1st quarter. BNP Paribas Financial Markets now owns 5,227 shares of the bank’s stock valued at $140,000 after purchasing an additional 2,518 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of 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. 44.27% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Orrstown Financial Services

In other Orrstown Financial Services news, EVP David Todd Hornberger sold 4,000 shares of Orrstown Financial Services 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 sale, the executive vice president now directly owns 20,877 shares in the company, valued at approximately $789,568.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Hovde Group upped their price target on Orrstown Financial Services from $37.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd.

Orrstown Financial Services Price Performance

ORRF stock opened at $37.38 on Friday. The stock has a 50-day moving average price of $35.86 and a two-hundred day moving average price of $31.04. Orrstown Financial Services, Inc. has a 1 year low of $21.13 and a 1 year high of $38.81. The stock has a market cap of $724.05 million, a PE ratio of 20.10 and a beta of 0.89. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12.

Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings data 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 17.66% and a net margin of 6.63%. The company had revenue of $95.37 million during the quarter, compared to analysts’ expectations of $60.90 million. Equities analysts forecast that Orrstown Financial Services, Inc. will post 4 EPS for the current fiscal year.

Orrstown Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.46%. Orrstown Financial Services’s dividend payout ratio (DPR) is presently 49.46%.

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.