Pacific Ridge Capital Partners LLC lowered its stake in Orrstown Financial Services, Inc. (NASDAQ:ORRF) by 10.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 90,071 shares of the bank’s stock after selling 10,380 shares during the quarter. Pacific Ridge Capital Partners LLC’s holdings in Orrstown Financial Services were worth $2,144,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in Orrstown Financial Services by 2.7% in the 2nd quarter. BlackRock Inc. now owns 534,409 shares of the bank’s stock valued at $13,895,000 after acquiring an additional 13,901 shares during the period. Millennium Management LLC grew its stake in Orrstown Financial Services by 301.3% in the 2nd quarter. Millennium Management LLC now owns 44,381 shares of the bank’s stock valued at $1,154,000 after acquiring an additional 33,323 shares during the period. Macquarie Group Ltd. grew its stake in Orrstown Financial Services by 327.2% in the 2nd quarter. Macquarie Group Ltd. now owns 16,843 shares of the bank’s stock valued at $438,000 after acquiring an additional 12,900 shares during the period. Acadian Asset Management LLC grew its stake in Orrstown Financial Services by 14.4% in the 3rd quarter. Acadian Asset Management LLC now owns 47,010 shares of the bank’s stock valued at $1,119,000 after acquiring an additional 5,912 shares during the period. Finally, EJF Capital LLC grew its stake in Orrstown Financial Services by 36.6% in the 3rd quarter. EJF Capital LLC now owns 100,432 shares of the bank’s stock valued at $2,390,000 after acquiring an additional 26,932 shares during the period. 38.15% of the stock is currently owned by hedge funds and other institutional investors.
Orrstown Financial Services stock opened at $19.80 on Friday. Orrstown Financial Services, Inc. has a 1 year low of $19.43 and a 1 year high of $27.05. The firm has a market capitalization of $186.49 million, a P/E ratio of 11.43 and a beta of 0.47. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.76 and a current ratio of 0.76.
Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings results on Wednesday, October 17th. The bank reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. Orrstown Financial Services had a net margin of 14.34% and a return on equity of 9.89%. The firm had revenue of $18.20 million for the quarter, compared to analysts’ expectations of $17.87 million. As a group, analysts forecast that Orrstown Financial Services, Inc. will post 1.81 EPS for the current year.
ORRF has been the topic of a number of research analyst reports. Boenning Scattergood raised shares of Orrstown Financial Services from a “neutral” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Thursday, October 25th. Zacks Investment Research cut shares of Orrstown Financial Services from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $29.67.
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Orrstown Financial Services Company Profile
Orrstown Financial Services, Inc operates as the holding company for Orrstown Bank that provides commercial banking and trust services in the United States. The company accepts various deposits, including checking, savings, time, demand, and money market deposits. It also offers commercial loans, such as commercial real estate, equipment, working capital, and other commercial purpose loans; consumer loans comprising home equity and other consumer loans, as well as home equity lines of credit; residential mortgage loans; agribusiness loans; acquisition and development loans; municipal loans; and installment and other loans.
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