Sei Investments Co. Makes New $442,000 Investment in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Sei Investments Co. bought a new position in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 19,153 shares of the bank’s stock, valued at approximately $442,000.

Several other large investors have also modified their holdings of ORRF. FMR LLC grew its position in shares of Orrstown Financial Services by 5,382.4% in the first quarter. FMR LLC now owns 60,690 shares of the bank’s stock valued at $1,128,000 after purchasing an additional 59,583 shares during the last quarter. BlackRock Inc. lifted its stake in Orrstown Financial Services by 6.2% during the first quarter. BlackRock Inc. now owns 840,491 shares of the bank’s stock worth $18,742,000 after purchasing an additional 48,773 shares during the period. Franklin Resources Inc. lifted its stake in Orrstown Financial Services by 84.4% during the first quarter. Franklin Resources Inc. now owns 80,600 shares of the bank’s stock worth $1,797,000 after purchasing an additional 36,900 shares during the period. Cornercap Investment Counsel Inc. bought a new position in shares of Orrstown Financial Services in the first quarter valued at approximately $587,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Orrstown Financial Services by 76.7% in the first quarter. Goldman Sachs Group Inc. now owns 48,250 shares of the bank’s stock valued at $1,076,000 after acquiring an additional 20,938 shares during the last quarter. 42.42% of the stock is currently owned by institutional investors.

In other Orrstown Financial Services news, CEO Thomas R. Quinn, Jr. sold 8,273 shares of the company’s stock in a transaction that occurred on Wednesday, September 22nd. The shares were sold at an average price of $22.50, for a total value of $186,142.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 8,583 shares of company stock valued at $193,433. Corporate insiders own 4.10% of the company’s stock.

Separately, Zacks Investment Research lowered shares of Orrstown Financial Services from a “buy” rating to a “sell” rating in a report on Friday, July 23rd.

Shares of ORRF opened at $22.99 on Friday. Orrstown Financial Services, Inc. has a 52 week low of $12.52 and a 52 week high of $25.91. The firm has a market cap of $258.73 million, a P/E ratio of 7.49 and a beta of 1.00. The firm’s 50-day simple moving average is $23.25 and its 200 day simple moving average is $23.53. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.89 and a current ratio of 0.89.

Orrstown Financial Services (NASDAQ:ORRF) last announced its earnings results on Monday, July 19th. The bank reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.06. Orrstown Financial Services had a net margin of 26.90% and a return on equity of 14.14%. The firm had revenue of $28.57 million for the quarter, compared to analyst estimates of $28.03 million. As a group, equities analysts forecast that Orrstown Financial Services, Inc. will post 3.17 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 9th. Investors of record on Monday, August 2nd were paid a $0.19 dividend. This is an increase from Orrstown Financial Services’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, July 30th. This represents a $0.76 annualized dividend and a yield of 3.31%. Orrstown Financial Services’s dividend payout ratio is presently 30.16%.

About Orrstown Financial Services

Orrstown Financial Services, Inc is a holding company, which engages in the provision of consumer and business financial services. It also offers commercial banking and trust business services which involves accepting demand, time and savings deposits, and granting loans. The company was founded on November 17, 1987 and is headquartered in Shippensburg, PA.

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

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