BNP Paribas Financial Markets Reduces Stock Holdings in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

BNP Paribas Financial Markets cut its stake in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) by 62.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,035 shares of the bank’s stock after selling 11,678 shares during the period. BNP Paribas Financial Markets’ holdings in Orrstown Financial Services were worth $253,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of Orrstown Financial Services by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 499,814 shares of the bank’s stock worth $13,674,000 after purchasing an additional 7,465 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in Orrstown Financial Services during the 3rd quarter valued at $8,734,000. Renaissance Technologies LLC increased its stake in Orrstown Financial Services by 42.2% during the 2nd quarter. Renaissance Technologies LLC now owns 223,399 shares of the bank’s stock worth $6,112,000 after buying an additional 66,300 shares during the period. Petiole USA ltd acquired a new position in Orrstown Financial Services in the 3rd quarter worth $6,543,000. Finally, FMR LLC boosted its position in Orrstown Financial Services by 9.0% in the 3rd quarter. FMR LLC now owns 178,478 shares of the bank’s stock valued at $6,418,000 after buying an additional 14,711 shares during the last quarter. Hedge funds and other institutional investors own 44.27% of the company’s stock.

Insiders Place Their Bets

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 shares were sold at an average price of $37.82, for a total transaction of $151,280.00. Following the completion of the sale, the executive vice president now owns 20,877 shares in the company, valued at $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 available at this link. 5.30% of the stock is currently owned by company insiders.

Orrstown Financial Services Stock Up 0.3 %

ORRF stock opened at $38.88 on Tuesday. The company has a market capitalization of $753.88 million, a P/E ratio of 20.90 and a beta of 0.90. The firm has a 50 day simple moving average of $38.59 and a 200-day simple moving average of $33.98. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. Orrstown Financial Services, Inc. has a twelve month low of $24.70 and a twelve month high of $41.99.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings data on Tuesday, October 22nd. The bank reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.19. The company had revenue of $95.37 million during the quarter, compared to analyst estimates of $60.90 million. Orrstown Financial Services had a net margin of 6.63% and a return on equity of 14.41%. On average, equities research analysts predict that Orrstown Financial Services, Inc. will post 4 earnings per share for the current fiscal year.

Orrstown Financial Services Dividend Announcement

The company 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 2.37%. The ex-dividend date was Tuesday, November 5th. Orrstown Financial Services’s payout ratio is currently 49.46%.

Wall Street Analyst Weigh In

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

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.