Principal Financial Group Inc. Makes New $478,000 Investment in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Principal Financial Group Inc. purchased a new stake in Orrstown Financial Services, Inc. (NASDAQ:ORRF) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 13,290 shares of the bank’s stock, valued at approximately $478,000. Principal Financial Group Inc. owned approximately 0.07% of Orrstown Financial Services at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. CWM LLC increased 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 acquired a new position in shares of Orrstown Financial Services during the 1st quarter worth about $31,000. SG Americas Securities LLC grew its holdings 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 valued at $335,000 after acquiring an additional 3,682 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Orrstown Financial Services by 1.0% in the first 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 during the last quarter. Finally, Rhumbline Advisers raised its holdings in Orrstown Financial Services by 32.9% during the second quarter. Rhumbline Advisers now owns 21,942 shares of the bank’s stock worth $600,000 after acquiring an additional 5,427 shares in the last quarter. 44.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Orrstown Financial Services Stock Performance

NASDAQ:ORRF opened at $40.49 on Monday. 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 firm has a market capitalization of $785.10 million, a PE ratio of 21.77 and a beta of 0.89. Orrstown Financial Services, Inc. has a twelve month low of $22.86 and a twelve month high of $41.99. The stock’s 50-day simple moving average is $37.30 and its 200 day simple moving average is $32.53.

Orrstown Financial Services (NASDAQ:ORRF) last issued its earnings results on Tuesday, October 22nd. The bank reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $60.90 million. On average, analysts anticipate that Orrstown Financial Services, Inc. will post 4 EPS for the current fiscal year.

Orrstown Financial Services Dividend Announcement

The firm also recently disclosed 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 2.27%. The ex-dividend date was Tuesday, November 5th. Orrstown Financial Services’s dividend payout ratio is 49.46%.

Insider Activity 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 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 directly owns 20,877 shares in the company, valued at $789,568.14. This trade represents a 16.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.30% of the stock is owned by corporate insiders.

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.