Orrstown Financial Services, Inc. (NASDAQ:ORRF) Shares Bought by EJF Capital LLC

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EJF Capital LLC raised its position in Orrstown Financial Services, Inc. (NASDAQ:ORRF) by 29.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 237,387 shares of the bank’s stock after acquiring an additional 54,529 shares during the period. EJF Capital LLC owned approximately 2.12% of Orrstown Financial Services worth $5,220,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ORRF. Martingale Asset Management L P lifted its stake in shares of Orrstown Financial Services by 2.8% during the first quarter. Martingale Asset Management L P now owns 28,812 shares of the bank’s stock worth $536,000 after buying an additional 797 shares during the period. Cetera Advisor Networks LLC lifted its position in Orrstown Financial Services by 2.2% during the second quarter. Cetera Advisor Networks LLC now owns 42,175 shares of the bank’s stock valued at $926,000 after purchasing an additional 900 shares during the period. Bank of America Corp DE lifted its position in Orrstown Financial Services by 20.5% during the fourth quarter. Bank of America Corp DE now owns 6,909 shares of the bank’s stock valued at $127,000 after purchasing an additional 1,177 shares during the period. BNP Paribas Arbitrage SA lifted its position in Orrstown Financial Services by 517.6% during the first quarter. BNP Paribas Arbitrage SA now owns 1,575 shares of the bank’s stock valued at $29,000 after purchasing an additional 1,320 shares during the period. Finally, Bessemer Group Inc. acquired a new position in Orrstown Financial Services during the second quarter valued at $44,000. Institutional investors own 40.68% of the company’s stock.

In other Orrstown Financial Services news, CEO Thomas R. Quinn, Jr. sold 5,261 shares of Orrstown Financial Services stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $22.36, for a total value of $117,635.96. Following the completion of the transaction, the chief executive officer now owns 53,471 shares of the company’s stock, valued at $1,195,611.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.00% of the stock is currently owned by insiders.

NASDAQ ORRF traded down $0.01 on Thursday, reaching $22.94. 482 shares of the company’s stock traded hands, compared to its average volume of 14,092. The firm has a market cap of $261.23 million, a price-to-earnings ratio of 12.67 and a beta of 0.59. The stock has a 50 day moving average price of $21.67 and a 200-day moving average price of $20.88. Orrstown Financial Services, Inc. has a fifty-two week low of $17.30 and a fifty-two week high of $25.28. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.83 and a current ratio of 0.84.

Orrstown Financial Services (NASDAQ:ORRF) last posted its earnings results on Wednesday, July 24th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. The company had revenue of $26.31 million during the quarter, compared to the consensus estimate of $22.75 million. Orrstown Financial Services had a net margin of 10.65% and a return on equity of 9.48%. As a group, equities research analysts anticipate that Orrstown Financial Services, Inc. will post 1.92 EPS for the current fiscal year.

A number of research analysts recently issued reports on ORRF shares. Boenning Scattergood restated an “outperform” rating on shares of Orrstown Financial Services in a research report on Thursday, June 20th. Zacks Investment Research downgraded shares of Orrstown Financial Services from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Finally, Hovde Group started coverage on shares of Orrstown Financial Services in a research report on Friday, May 31st. They set an “outperform” rating and a $25.00 target price for the company. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $23.63.

Orrstown Financial Services Company Profile

Orrstown Financial Services, Inc operates as the holding company for Orrstown Bank that provides commercial banking and trust services in the United States. The company accepts various deposits, including checking, savings, time, demand, and money market deposits. It also offers commercial loans, such as commercial real estate, equipment, working capital, and other commercial purpose loans; consumer loans comprising home equity and other consumer loans, as well as home equity lines of credit; residential mortgage loans; agribusiness loans; acquisition and development loans; municipal loans; and installment and other loans.

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Institutional Ownership by Quarter for Orrstown Financial Services (NASDAQ:ORRF)

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