Orrstown Financial Services, Inc. Common Stock (ORRF) Shares Sold by Millennium Management LLC

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Millennium Management LLC reduced its holdings in shares of Orrstown Financial Services, Inc. Common Stock (NASDAQ:ORRF) by 73.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,058 shares of the bank’s stock after selling 29,933 shares during the quarter. Millennium Management LLC’s holdings in Orrstown Financial Services, Inc. Common Stock were worth $267,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. EJF Capital LLC bought a new position in shares of Orrstown Financial Services, Inc. Common Stock during the first quarter valued at approximately $3,048,000. Elizabeth Park Capital Advisors Ltd. increased its stake in shares of Orrstown Financial Services, Inc. Common Stock by 54.2% during the first quarter. Elizabeth Park Capital Advisors Ltd. now owns 286,012 shares of the bank’s stock valued at $6,907,000 after purchasing an additional 100,497 shares in the last quarter. Stifel Financial Corp bought a new position in shares of Orrstown Financial Services, Inc. Common Stock during the first quarter valued at approximately $431,000. Dimensional Fund Advisors LP increased its stake in shares of Orrstown Financial Services, Inc. Common Stock by 37.6% during the first quarter. Dimensional Fund Advisors LP now owns 84,754 shares of the bank’s stock valued at $2,047,000 after purchasing an additional 23,168 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of Orrstown Financial Services, Inc. Common Stock by 214.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 4,582 shares of the bank’s stock valued at $111,000 after purchasing an additional 3,123 shares in the last quarter. Institutional investors own 46.73% of the company’s stock.

In other news, Director Anthony F. Ceddia sold 1,255 shares of the stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $26.11, for a total transaction of $32,768.05. Following the sale, the director now owns 7,110 shares in the company, valued at $185,642.10. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Joel R. Zullinger sold 1,000 shares of the stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $25.77, for a total transaction of $25,770.00. Following the sale, the director now owns 37,949 shares in the company, valued at approximately $977,945.73. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,755 shares of company stock worth $71,898. Corporate insiders own 5.70% of the company’s stock.

Shares of NASDAQ ORRF opened at $25.50 on Tuesday. Orrstown Financial Services, Inc. Common Stock has a fifty-two week low of $23.40 and a fifty-two week high of $27.05. The company has a market cap of $215.06 million, a price-to-earnings ratio of 16.20 and a beta of 0.15. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.58.

Orrstown Financial Services, Inc. Common Stock (NASDAQ:ORRF) last announced its earnings results on Friday, July 27th. The bank reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.09. Orrstown Financial Services, Inc. Common Stock had a net margin of 13.36% and a return on equity of 9.05%. The business had revenue of $17.86 million during the quarter, compared to the consensus estimate of $17.58 million. sell-side analysts anticipate that Orrstown Financial Services, Inc. Common Stock will post 1.7 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 3rd. Shareholders of record on Saturday, July 28th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend was Thursday, July 26th. Orrstown Financial Services, Inc. Common Stock’s dividend payout ratio is 40.00%.

A number of brokerages have weighed in on ORRF. Zacks Investment Research raised shares of Orrstown Financial Services, Inc. Common Stock from a “hold” rating to a “strong-buy” rating and set a $31.00 target price for the company in a research note on Tuesday, July 24th. ValuEngine downgraded shares of Orrstown Financial Services, Inc. Common Stock from a “buy” rating to a “hold” rating in a research note on Tuesday, August 7th. Sandler O’Neill raised shares of Orrstown Financial Services, Inc. Common Stock from a “hold” rating to a “buy” rating in a research note on Friday, June 8th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $34.00 target price on shares of Orrstown Financial Services, Inc. Common Stock in a research note on Thursday, July 19th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Orrstown Financial Services, Inc. Common Stock currently has an average rating of “Buy” and a consensus price target of $32.50.

Orrstown Financial Services, Inc. Common Stock 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, Inc. Common Stock (NASDAQ:ORRF)

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