Emerald Mutual Fund Advisers Trust Makes New Investment in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Emerald Mutual Fund Advisers Trust purchased a new stake in Orrstown Financial Services, Inc. (NASDAQ:ORRF) during the 3rd quarter, HoldingsChannel reports. The fund purchased 72,084 shares of the bank’s stock, valued at approximately $2,592,000.

Other large investors have also recently modified their holdings of the company. CWM LLC raised its position in Orrstown Financial Services by 31.0% during the third quarter. CWM LLC now owns 2,217 shares of the bank’s stock valued at $80,000 after purchasing an additional 525 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in Orrstown Financial Services in the first quarter worth approximately $31,000. Empowered Funds LLC grew its position in Orrstown Financial Services by 7.7% during the first quarter. Empowered Funds LLC now owns 22,092 shares of the bank’s stock valued at $591,000 after acquiring an additional 1,575 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 acquiring an additional 2,518 shares in the last quarter. Finally, SG Americas Securities LLC lifted 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 worth $335,000 after acquiring an additional 3,682 shares during the last quarter. Institutional investors own 44.27% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Orrstown Financial Services Trading Down 0.2 %

Shares of ORRF opened at $37.38 on Monday. The stock has a market capitalization of $724.05 million, a P/E ratio of 20.10 and a beta of 0.89. Orrstown Financial Services, Inc. has a twelve month low of $21.13 and a twelve month high of $38.81. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. The firm has a fifty day simple moving average of $35.86 and a two-hundred day simple moving average of $31.04.

Orrstown Financial Services (NASDAQ:ORRF) last posted its earnings results on Tuesday, October 22nd. The bank reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.19. Orrstown Financial Services had a return on equity of 17.66% and a net margin of 6.63%. The firm had revenue of $95.37 million for the quarter, compared to analysts’ expectations of $60.90 million. On average, research analysts anticipate 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 2.46%. Orrstown Financial Services’s dividend payout ratio is 49.46%.

Insider Activity

In other Orrstown Financial Services news, EVP David Todd Hornberger sold 4,000 shares of the firm’s 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 completion of the sale, the executive vice president now directly 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 filing with the SEC, which is available at this link. Insiders own 5.30% of the company’s stock.

Orrstown Financial Services 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.