Barclays PLC Purchases 18,422 Shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Barclays PLC boosted its position in Orrstown Financial Services, Inc. (NASDAQ:ORRF) by 120.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,721 shares of the bank’s stock after acquiring an additional 18,422 shares during the period. Barclays PLC owned 0.17% of Orrstown Financial Services worth $1,212,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC lifted its holdings in Orrstown Financial Services by 31.0% in the third 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 period. Quest Partners LLC bought a new stake in shares of Orrstown Financial Services during the 3rd quarter valued at $155,000. Fulton Bank N.A. acquired a new position in shares of Orrstown Financial Services in the 3rd quarter valued at $209,000. Y Intercept Hong Kong Ltd bought a new position in shares of Orrstown Financial Services in the 3rd quarter worth $227,000. Finally, Beese Fulmer Investment Management Inc. acquired a new stake in shares of Orrstown Financial Services during the third quarter worth $242,000. 44.27% of the stock is currently owned by institutional investors and hedge funds.

Orrstown Financial Services Stock Down 0.9 %

Shares of NASDAQ ORRF opened at $36.49 on Monday. Orrstown Financial Services, Inc. has a 52-week low of $24.70 and a 52-week high of $41.99. 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 stock has a market cap of $707.40 million, a P/E ratio of 19.62 and a beta of 0.90. The firm has a 50 day moving average price of $38.70 and a 200 day moving average price of $34.70.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $1.11 earnings per share for the quarter, beating 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 business had revenue of $95.37 million for the quarter, compared to analysts’ expectations of $60.90 million. Analysts expect that Orrstown Financial Services, Inc. will post 4 EPS for the current year.

Orrstown Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.52%. The ex-dividend date was Tuesday, November 5th. Orrstown Financial Services’s dividend payout ratio is 49.46%.

Insider Buying and Selling at Orrstown Financial Services

In related news, EVP David Todd Hornberger sold 4,000 shares of the 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 transaction, the executive vice president now owns 20,877 shares in the company, valued at approximately $789,568.14. This represents a 16.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.30% of the company’s stock.

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.