Quest Partners LLC Makes New Investment in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Quest Partners LLC bought a new stake in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) during the 3rd quarter, HoldingsChannel.com reports. The firm bought 4,305 shares of the bank’s stock, valued at approximately $155,000.

Several other hedge funds have also recently bought and sold shares of ORRF. CWM LLC increased its stake in shares of Orrstown Financial Services by 227.9% in the second quarter. CWM LLC now owns 1,692 shares of the bank’s stock valued at $46,000 after buying an additional 1,176 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Orrstown Financial Services in the second quarter valued at approximately $154,000. Fulton Bank N.A. bought a new position in Orrstown Financial Services in the 3rd quarter worth approximately $209,000. Beese Fulmer Investment Management Inc. acquired a new stake in shares of Orrstown Financial Services in the 3rd quarter valued at $242,000. Finally, RKL Wealth Management LLC grew its position in shares of Orrstown Financial Services by 22.8% during the 3rd quarter. RKL Wealth Management LLC now owns 12,286 shares of the bank’s stock worth $442,000 after buying an additional 2,281 shares during the period. 44.27% of the stock is currently owned by institutional investors and hedge funds.

Orrstown Financial Services Trading Down 0.4 %

Shares of NASDAQ:ORRF opened at $39.63 on Friday. Orrstown Financial Services, Inc. has a one year low of $22.86 and a one year high of $41.99. The stock has a market capitalization 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 company’s 50-day moving average price is $37.58 and its two-hundred day moving average price is $32.77.

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 analysts’ consensus estimates of $0.92 by $0.19. The business had revenue of $95.37 million for the quarter, compared to analyst estimates of $60.90 million. Orrstown Financial Services had a return on equity of 14.41% and a net margin of 6.63%. On average, equities analysts forecast 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 given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.92 annualized dividend and a yield of 2.32%. Orrstown Financial Services’s dividend payout ratio (DPR) 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 on Tuesday, October 29th. The stock was sold at an average price of $37.82, for a total transaction of $151,280.00. Following the transaction, the executive vice president now owns 20,877 shares in the company, valued at $789,568.14. This trade represents a 16.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.20% of the company’s stock.

Analyst Ratings Changes

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

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.