Pacific Ridge Capital Partners LLC increased its stake in shares of Orrstown Financial Services (NASDAQ:ORRF) by 3.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 92,633 shares of the bank’s stock after acquiring an additional 2,840 shares during the period. Pacific Ridge Capital Partners LLC owned 1.11% of Orrstown Financial Services worth $2,339,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Orrstown Financial Services Inc. increased its holdings in shares of Orrstown Financial Services by 57,850.0% during the 4th quarter. Orrstown Financial Services Inc. now owns 4,636 shares of the bank’s stock valued at $117,000 after acquiring an additional 4,628 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Orrstown Financial Services by 4.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,281 shares of the bank’s stock valued at $120,000 after acquiring an additional 235 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Orrstown Financial Services by 110.4% during the 4th quarter. Acadian Asset Management LLC now owns 5,258 shares of the bank’s stock valued at $133,000 after acquiring an additional 2,759 shares during the last quarter. Teachers Advisors LLC increased its holdings in shares of Orrstown Financial Services by 7.5% during the 2nd quarter. Teachers Advisors LLC now owns 12,604 shares of the bank’s stock valued at $288,000 after acquiring an additional 875 shares during the last quarter. Finally, Macquarie Group Ltd. acquired a new stake in Orrstown Financial Services in the 3rd quarter valued at approximately $292,000. 41.28% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have issued reports on ORRF. Zacks Investment Research lowered Orrstown Financial Services from a “hold” rating to a “strong sell” rating in a report on Wednesday. ValuEngine raised Orrstown Financial Services from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Orrstown Financial Services in a report on Thursday, January 25th.
Shares of Orrstown Financial Services (ORRF) opened at $25.20 on Friday. The stock has a market capitalization of $210.37, a P/E ratio of 19.39 and a beta of 0.41. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.44. Orrstown Financial Services has a fifty-two week low of $19.05 and a fifty-two week high of $26.95.
Orrstown Financial Services (NASDAQ:ORRF) last released its earnings results on Wednesday, January 24th. The bank reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.04). The business had revenue of $16.51 million during the quarter, compared to analyst estimates of $17.08 million. Orrstown Financial Services had a net margin of 11.33% and a return on equity of 7.57%. equities research analysts forecast that Orrstown Financial Services will post 1.4 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Saturday, February 3rd were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $0.48 dividend on an annualized basis and a yield of 1.90%. This is a positive change from Orrstown Financial Services’s previous quarterly dividend of $0.07. Orrstown Financial Services’s dividend payout ratio (DPR) is 48.98%.
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Orrstown Financial Services Profile
Orrstown Financial Services, Inc is the bank holding company for Orrstown Bank (the Bank). The Bank is engaged in commercial banking and trust business. The Company operates through Community Banking segment. The Bank’s activities involve accepting demand, time and savings deposits, and granting loans.
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