Orrstown Financial Services, Inc. (NASDAQ:ORRF) Shares Purchased by RKL Wealth Management LLC

RKL Wealth Management LLC lifted its holdings in Orrstown Financial Services, Inc. (NASDAQ:ORRF) by 22.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,286 shares of the bank’s stock after acquiring an additional 2,281 shares during the quarter. RKL Wealth Management LLC’s holdings in Orrstown Financial Services were worth $442,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ORRF. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Orrstown Financial Services in the third quarter worth $2,592,000. Renaissance Technologies LLC increased its stake in shares of Orrstown Financial Services by 42.2% in the second quarter. Renaissance Technologies LLC now owns 223,399 shares of the bank’s stock worth $6,112,000 after acquiring an additional 66,300 shares during the period. PL Capital Advisors LLC acquired a new stake in shares of Orrstown Financial Services in the third quarter worth $2,314,000. American Century Companies Inc. increased its stake in shares of Orrstown Financial Services by 37.9% in the second quarter. American Century Companies Inc. now owns 149,259 shares of the bank’s stock worth $4,084,000 after acquiring an additional 41,016 shares during the period. Finally, AQR Capital Management LLC acquired a new stake in shares of Orrstown Financial Services in the second quarter worth $1,048,000. Institutional investors and hedge funds own 44.27% of the company’s stock.

Insider Activity

In other news, EVP David Todd Hornberger sold 4,000 shares of Orrstown Financial Services stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $37.82, for a total value of $151,280.00. Following the sale, the executive vice president now owns 20,877 shares in the company, valued at $789,568.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.30% of the company’s stock.

Analysts Set New Price Targets

Separately, Hovde Group increased their price objective on shares of Orrstown Financial Services from $37.00 to $42.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd.

Orrstown Financial Services Stock Up 0.8 %

ORRF stock opened at $40.18 on Friday. The firm has a market cap of $778.29 million, a PE ratio of 21.60 and a beta of 0.89. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. The firm’s fifty day moving average is $36.21 and its 200 day moving average is $31.51. Orrstown Financial Services, Inc. has a one year low of $21.42 and a one year high of $41.99.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings results on Tuesday, October 22nd. The bank reported $1.11 EPS for the quarter, beating 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%. On average, research analysts forecast that Orrstown Financial Services, Inc. will post 4 EPS for the current year.

Orrstown Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th will be given a $0.23 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $0.92 annualized dividend and a dividend yield of 2.29%. Orrstown Financial Services’s dividend payout ratio (DPR) is 49.46%.

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.