Financial Counselors Inc. Acquires New Holdings in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Financial Counselors Inc. purchased a new stake in Orrstown Financial Services, Inc. (NASDAQ:ORRF) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 34,247 shares of the bank’s stock, valued at approximately $1,232,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Orrstown Financial Services by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 547,755 shares of the bank’s stock valued at $14,663,000 after acquiring an additional 5,332 shares in the last quarter. CWM LLC raised its stake in shares of Orrstown Financial Services by 227.9% during 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 acquired a new stake in Orrstown Financial Services in the second quarter worth about $154,000. Bank of New York Mellon Corp lifted its holdings in Orrstown Financial Services by 9.1% in the second quarter. Bank of New York Mellon Corp now owns 74,528 shares of the bank’s stock worth $2,039,000 after purchasing an additional 6,200 shares during the period. Finally, Rhumbline Advisers grew its position in Orrstown Financial Services by 32.9% in the 2nd quarter. Rhumbline Advisers now owns 21,942 shares of the bank’s stock valued at $600,000 after buying an additional 5,427 shares in the last quarter. Institutional investors own 44.27% of the company’s stock.

Insider Buying and Selling at Orrstown Financial Services

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 transaction, the executive vice president now owns 20,877 shares of the company’s stock, valued at approximately $789,568.14. This trade represents a 16.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Hovde Group lowered shares of Orrstown Financial Services from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 13th.

Orrstown Financial Services Stock Down 0.3 %

ORRF opened at $39.50 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $765.75 million, a PE ratio of 21.24 and a beta of 0.89. The stock’s fifty day moving average is $37.64 and its 200-day moving average is $32.82. Orrstown Financial Services, Inc. has a one year low of $23.52 and a one year high of $41.99.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings results 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 firm had revenue of $95.37 million for the quarter, compared to analysts’ expectations of $60.90 million. On average, equities analysts predict that Orrstown Financial Services, Inc. will post 4 EPS for the current fiscal 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 $0.23 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $0.92 annualized dividend and a yield of 2.33%. Orrstown Financial Services’s dividend payout ratio (DPR) is 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.