SG Americas Securities LLC Lowers Holdings in Orrstown Financial Services Inc $ORRF

SG Americas Securities LLC reduced its stake in shares of Orrstown Financial Services Inc (NASDAQ:ORRF) by 13.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,222 shares of the bank’s stock after selling 3,177 shares during the quarter. SG Americas Securities LLC owned 0.11% of Orrstown Financial Services worth $675,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Orrstown Financial Services by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 1,049,610 shares of the bank’s stock worth $31,499,000 after purchasing an additional 6,744 shares during the period. Geode Capital Management LLC boosted its holdings in Orrstown Financial Services by 5.0% during the second quarter. Geode Capital Management LLC now owns 466,343 shares of the bank’s stock worth $14,846,000 after buying an additional 22,191 shares in the last quarter. Millennium Management LLC grew its position in Orrstown Financial Services by 123.8% during the first quarter. Millennium Management LLC now owns 330,322 shares of the bank’s stock valued at $9,913,000 after buying an additional 182,709 shares during the period. Goldman Sachs Group Inc. increased its holdings in Orrstown Financial Services by 2.9% in the first quarter. Goldman Sachs Group Inc. now owns 85,047 shares of the bank’s stock valued at $2,552,000 after buying an additional 2,417 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its holdings in Orrstown Financial Services by 27.0% in the first quarter. Panagora Asset Management Inc. now owns 58,057 shares of the bank’s stock valued at $1,742,000 after buying an additional 12,348 shares in the last quarter. 44.27% of the stock is owned by institutional investors and hedge funds.

Orrstown Financial Services Trading Down 0.3%

Shares of Orrstown Financial Services stock opened at $35.13 on Tuesday. Orrstown Financial Services Inc has a twelve month low of $25.57 and a twelve month high of $41.50. The firm’s 50-day moving average price is $33.98 and its 200 day moving average price is $33.03. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $685.04 million, a PE ratio of 9.29 and a beta of 0.87.

Orrstown Financial Services (NASDAQ:ORRF) last announced its earnings results on Tuesday, November 8th. The bank reported $0.65 EPS for the quarter. The business had revenue of $28.27 million during the quarter. Orrstown Financial Services had a return on equity of 14.39% and a net margin of 20.48%. On average, sell-side analysts predict that Orrstown Financial Services Inc will post 4.23 EPS for the current fiscal year.

Orrstown Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 12th. Shareholders of record on Wednesday, November 5th were issued a $0.27 dividend. The ex-dividend date was Wednesday, November 5th. This represents a $1.08 dividend on an annualized basis and a yield of 3.1%. Orrstown Financial Services’s dividend payout ratio (DPR) is presently 28.57%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ORRF. Weiss Ratings restated a “hold (c+)” rating on shares of Orrstown Financial Services in a research report on Wednesday, October 8th. Zacks Research downgraded Orrstown Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. Finally, Wall Street Zen cut Orrstown Financial Services from a “buy” rating to a “hold” rating in a research report on Saturday, August 16th. Four 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 MarketBeat, Orrstown Financial Services presently has an average rating of “Moderate Buy” and an average price target of $39.25.

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.