ProShare Advisors LLC Sells 18,278 Shares of Orrstown Financial Services Inc $ORRF

ProShare Advisors LLC cut its holdings in shares of Orrstown Financial Services Inc (NASDAQ:ORRF) by 9.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 180,990 shares of the bank’s stock after selling 18,278 shares during the period. ProShare Advisors LLC owned approximately 0.93% of Orrstown Financial Services worth $6,150,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Assenagon Asset Management S.A. acquired a new position in shares of Orrstown Financial Services in the 3rd quarter valued at approximately $6,628,000. American Century Companies Inc. raised its holdings in Orrstown Financial Services by 13.1% during the 2nd quarter. American Century Companies Inc. now owns 255,717 shares of the bank’s stock worth $8,139,000 after buying an additional 29,714 shares during the period. Rosenthal Henry Capital Advisors Inc. bought a new position in Orrstown Financial Services in the third quarter valued at approximately $1,668,000. Geode Capital Management LLC boosted its holdings in shares of Orrstown Financial Services by 5.0% in the second quarter. Geode Capital Management LLC now owns 466,343 shares of the bank’s stock valued at $14,846,000 after buying an additional 22,191 shares during the period. Finally, Kennedy Capital Management LLC acquired a new position in shares of Orrstown Financial Services in the second quarter valued at approximately $1,335,000. 44.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ORRF has been the topic of a number of research analyst reports. Hovde Group raised their price objective on shares of Orrstown Financial Services from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Orrstown Financial Services in a report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Orrstown Financial Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.67.

Orrstown Financial Services Stock Performance

Shares of ORRF stock opened at $37.38 on Friday. Orrstown Financial Services Inc has a 12 month low of $25.57 and a 12 month high of $40.72. The company’s fifty day simple moving average is $36.75 and its 200-day simple moving average is $35.04. The firm has a market cap of $728.91 million, a PE ratio of 8.94 and a beta of 0.83. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.06.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings results on Tuesday, January 27th. The bank reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.03. Orrstown Financial Services had a net margin of 22.71% and a return on equity of 15.04%. The firm had revenue of $64.92 million for the quarter, compared to analyst estimates of $51.54 million. Equities research analysts expect that Orrstown Financial Services Inc will post 4.23 EPS for the current fiscal year.

Orrstown Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Tuesday, February 10th will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, February 10th. This is a boost from Orrstown Financial Services’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 3.2%. Orrstown Financial Services’s dividend payout ratio is currently 28.71%.

Orrstown Financial Services Company Profile

Orrstown Financial Services, Inc is the bank holding company for Orrstown Bank, a community banking organization headquartered in Shippensburg, Pennsylvania. The roots of Orrstown Bank date back to 1865, and the holding company structure was established to support its growth and diversification. As a regional financial institution, Orrstown Financial Services focuses on delivering personalized banking solutions to individuals, families and businesses across Central Pennsylvania.

The company’s core offerings include a full suite of deposit products such as checking and savings accounts, money market accounts and certificates of deposit.