Renaissance Technologies LLC decreased its position in Orrstown Financial Services Inc (NASDAQ:ORRF) by 4.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 170,043 shares of the bank’s stock after selling 7,257 shares during the period. Renaissance Technologies LLC owned approximately 2.12% of Orrstown Financial Services worth $3,800,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in ORRF. Geode Capital Management LLC raised its stake in Orrstown Financial Services by 3.6% in the first quarter. Geode Capital Management LLC now owns 51,019 shares of the bank’s stock worth $1,140,000 after buying an additional 1,759 shares during the last quarter. Wellington Management Group LLP raised its stake in Orrstown Financial Services by 17.0% in the first quarter. Wellington Management Group LLP now owns 79,813 shares of the bank’s stock worth $1,784,000 after buying an additional 11,578 shares during the last quarter. American International Group Inc. raised its stake in Orrstown Financial Services by 7.2% in the first quarter. American International Group Inc. now owns 4,559 shares of the bank’s stock worth $102,000 after buying an additional 306 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Orrstown Financial Services during the first quarter worth $138,000. Finally, Pacific Ridge Capital Partners LLC raised its stake in Orrstown Financial Services by 51.6% in the first quarter. Pacific Ridge Capital Partners LLC now owns 96,389 shares of the bank’s stock worth $2,154,000 after buying an additional 32,811 shares during the last quarter. Hedge funds and other institutional investors own 37.93% of the company’s stock.
Shares of Orrstown Financial Services Inc (ORRF) traded up 0.61% during trading on Friday, reaching $24.65. 26,375 shares of the company’s stock traded hands. The company has a 50 day moving average price of $23.79 and a 200 day moving average price of $22.22. Orrstown Financial Services Inc has a 1-year low of $18.05 and a 1-year high of $26.55. The stock has a market capitalization of $205.65 million, a PE ratio of 23.23 and a beta of 0.89.
Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings data on Wednesday, July 26th. The bank reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.13. Orrstown Financial Services had a return on equity of 6.25% and a net margin of 13.25%. The company had revenue of $16.34 million for the quarter, compared to the consensus estimate of $16.09 million. On average, equities analysts forecast that Orrstown Financial Services Inc will post $1.34 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 8th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, August 4th. This represents a $0.40 annualized dividend and a yield of 1.62%. Orrstown Financial Services’s dividend payout ratio is presently 37.74%.
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A number of analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Orrstown Financial Services from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Saturday, July 29th. Keefe, Bruyette & Woods upgraded shares of Orrstown Financial Services from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $24.00 to $28.00 in a research note on Thursday, July 27th.
About Orrstown Financial Services
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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