Fourthstone LLC Has $65.15 Million Holdings in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Fourthstone LLC boosted its stake in Orrstown Financial Services, Inc. (NASDAQ:ORRF) by 223.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,811,825 shares of the bank’s stock after acquiring an additional 1,252,356 shares during the period. Orrstown Financial Services accounts for 14.5% of Fourthstone LLC’s investment portfolio, making the stock its largest holding. Fourthstone LLC owned about 9.35% of Orrstown Financial Services worth $65,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC lifted its stake in Orrstown Financial Services by 206.0% in the third quarter. Empowered Funds LLC now owns 72,563 shares of the bank’s stock valued at $2,609,000 after buying an additional 48,851 shares during the period. PL Capital Advisors LLC acquired a new stake in Orrstown Financial Services in the third quarter worth $2,314,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Orrstown Financial Services by 110.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,387 shares of the bank’s stock valued at $1,596,000 after purchasing an additional 23,333 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of Orrstown Financial Services during the 3rd quarter worth about $478,000. Finally, American Century Companies Inc. grew its stake in shares of Orrstown Financial Services by 37.9% in the 2nd quarter. American Century Companies Inc. now owns 149,259 shares of the bank’s stock valued at $4,084,000 after buying an additional 41,016 shares during the period. Institutional investors and hedge funds own 44.27% of the company’s stock.

Orrstown Financial Services Stock Down 0.4 %

Shares of NASDAQ:ORRF traded down $0.15 during midday trading on Thursday, hitting $39.63. 90,768 shares of the company’s stock were exchanged, compared to its average volume of 82,096. Orrstown Financial Services, Inc. has a 12 month low of $22.86 and a 12 month high of $41.99. The company has a market cap of $768.43 million, a PE ratio of 21.31 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a 50 day moving average price of $37.58 and a 200-day moving average price of $32.77.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings data on Tuesday, October 22nd. The bank reported $1.11 EPS for the quarter, topping the consensus estimate of $0.92 by $0.19. The firm had revenue of $95.37 million during the quarter, compared to the consensus estimate of $60.90 million. Orrstown Financial Services had a return on equity of 14.41% and a net margin of 6.63%. On average, sell-side analysts anticipate that Orrstown Financial Services, Inc. will post 4 EPS for the current fiscal year.

Orrstown Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Tuesday, November 5th. Orrstown Financial Services’s dividend payout ratio (DPR) is presently 49.46%.

Wall Street Analyst Weigh In

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

Insider Activity

In other Orrstown Financial Services news, EVP David Todd Hornberger sold 4,000 shares of the business’s 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 owns 20,877 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 6.20% of the stock is currently owned by corporate insiders.

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.