Rodgers & Associates LTD Buys New Position in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Rodgers & Associates LTD bought a new stake in Orrstown Financial Services, Inc. (NASDAQ:ORRF) in the third quarter, HoldingsChannel reports. The fund bought 13,333 shares of the bank’s stock, valued at approximately $479,000.

A number of other large investors have also recently made changes to their positions in ORRF. Quadrature Capital Ltd acquired a new stake in shares of Orrstown Financial Services in the 4th quarter valued at about $234,000. BNP Paribas Financial Markets boosted its position in shares of Orrstown Financial Services by 92.9% in the 1st quarter. BNP Paribas Financial Markets now owns 5,227 shares of the bank’s stock valued at $140,000 after purchasing an additional 2,518 shares during the period. Empowered Funds LLC boosted its position in shares of Orrstown Financial Services by 7.7% in the 1st quarter. Empowered Funds LLC now owns 22,092 shares of the bank’s stock valued at $591,000 after purchasing an additional 1,575 shares during the period. Pacific Ridge Capital Partners LLC boosted its position in shares of Orrstown Financial Services by 3.9% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 228,449 shares of the bank’s stock valued at $6,116,000 after purchasing an additional 8,564 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Orrstown Financial Services by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 547,755 shares of the bank’s stock valued at $14,663,000 after purchasing an additional 5,332 shares during the period. 44.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ORRF. Hovde Group upped their target price on Orrstown Financial Services from $33.00 to $37.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Janney Montgomery Scott began coverage on Orrstown Financial Services in a research report on Friday, June 28th. They set a “buy” rating and a $32.00 price objective for the company.

Orrstown Financial Services Stock Performance

Orrstown Financial Services stock traded down $0.01 during mid-day trading on Tuesday, reaching $36.36. 8,684 shares of the company were exchanged, compared to its average volume of 74,062. Orrstown Financial Services, Inc. has a twelve month low of $20.00 and a twelve month high of $37.86. The firm’s 50-day simple moving average is $35.17 and its two-hundred day simple moving average is $30.31. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market cap of $389.82 million, a PE ratio of 10.86 and a beta of 0.90.

Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.83 EPS for the quarter, beating the consensus estimate of $0.73 by $0.10. The business had revenue of $50.45 million during the quarter, compared to analysts’ expectations of $31.60 million. Orrstown Financial Services had a return on equity of 13.45% and a net margin of 17.26%. Equities analysts predict that Orrstown Financial Services, Inc. will post 3.61 earnings per share for the current fiscal year.

About Orrstown Financial Services

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.