181,966 Shares in Orrstown Financial Services, Inc. (NASDAQ:ORRF) Acquired by Petiole USA ltd

Petiole USA ltd bought a new stake in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 181,966 shares of the bank’s stock, valued at approximately $6,543,000. Orrstown Financial Services makes up approximately 4.3% of Petiole USA ltd’s investment portfolio, making the stock its 5th largest position. Petiole USA ltd owned about 0.94% of Orrstown Financial Services as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in ORRF. CWM LLC boosted its stake 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. EntryPoint Capital LLC purchased a new stake in Orrstown Financial Services during the first quarter worth $31,000. Segall Bryant & Hamill LLC boosted its position in Orrstown Financial Services by 1.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 124,652 shares of the bank’s stock valued at $4,482,000 after acquiring an additional 2,143 shares in the last quarter. RKL Wealth Management LLC increased its holdings in shares of Orrstown Financial Services by 22.8% in the 3rd quarter. RKL Wealth Management LLC now owns 12,286 shares of the bank’s stock valued at $442,000 after acquiring an additional 2,281 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of Orrstown Financial Services by 65.3% in the 3rd quarter. SG Americas Securities LLC now owns 9,318 shares of the bank’s stock worth $335,000 after acquiring an additional 3,682 shares in the last quarter. 44.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Orrstown Financial Services

In other 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 transaction of $151,280.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.30% of the company’s stock.

Orrstown Financial Services Trading Down 1.7 %

NASDAQ ORRF opened at $39.41 on Tuesday. The firm has a market cap of $764.00 million, a PE ratio of 21.56 and a beta of 0.89. Orrstown Financial Services, Inc. has a 52 week low of $22.86 and a 52 week high of $41.99. 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 company has a 50 day moving average price of $37.30 and a 200 day moving average price of $32.53.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings data on Tuesday, October 22nd. The bank reported $1.11 EPS for the quarter, beating the consensus estimate of $0.92 by $0.19. The firm had revenue of $95.37 million during the quarter, compared to analyst estimates of $60.90 million. Orrstown Financial Services had a return on equity of 14.41% and a net margin of 6.63%. As a group, sell-side analysts forecast 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 issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Tuesday, November 5th. Orrstown Financial Services’s dividend payout ratio is presently 49.46%.

Wall Street Analysts Forecast Growth

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

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.