Emerald Advisers LLC Invests $474,000 in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Emerald Advisers LLC purchased a new stake in Orrstown Financial Services, Inc. (NASDAQ:ORRF) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 13,193 shares of the bank’s stock, valued at approximately $474,000.

Other hedge funds have also added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new stake in Orrstown Financial Services during the 1st quarter worth about $31,000. 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 worth $46,000 after buying an additional 1,176 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Orrstown Financial Services by 92.9% during the first quarter. BNP Paribas Financial Markets now owns 5,227 shares of the bank’s stock worth $140,000 after buying an additional 2,518 shares during the last quarter. SG Americas Securities LLC acquired a new position in Orrstown Financial Services in the second quarter valued at approximately $154,000. Finally, Fulton Bank N.A. bought a new position in Orrstown Financial Services in the third quarter valued at approximately $209,000. Institutional investors own 44.27% of the company’s stock.

Orrstown Financial Services Stock Performance

Shares of NASDAQ:ORRF opened at $37.38 on Monday. The firm’s 50 day simple moving average is $35.86 and its 200 day simple moving average is $31.08. Orrstown Financial Services, Inc. has a fifty-two week low of $21.13 and a fifty-two week high of $38.81. The company has a market capitalization of $724.05 million, a price-to-earnings ratio of 20.10 and a beta of 0.89. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87.

Orrstown Financial Services (NASDAQ:ORRF) last posted its earnings results 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. The company had revenue of $95.37 million for the quarter, compared to analyst estimates of $60.90 million. Orrstown Financial Services had a net margin of 6.63% and a return on equity of 17.66%. As a group, sell-side analysts forecast that Orrstown Financial Services, Inc. will post 4 earnings per share for the current year.

Orrstown Financial Services Announces Dividend

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

Insiders Place Their Bets

In other Orrstown Financial Services news, EVP David Todd Hornberger sold 4,000 shares of the 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 completion of the sale, the executive vice president now directly owns 20,877 shares in the company, valued at $789,568.14. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Hovde Group increased 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.

About Orrstown Financial Services

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.