Pacific Ridge Capital Partners LLC cut its stake in Orrstown Financial Services, Inc. (NASDAQ:ORRF) by 10.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,071 shares of the bank’s stock after selling 10,380 shares during the period. Pacific Ridge Capital Partners LLC owned 0.96% of Orrstown Financial Services worth $2,144,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in ORRF. Renaissance Technologies LLC boosted its stake in Orrstown Financial Services by 34.7% in the 2nd quarter. Renaissance Technologies LLC now owns 279,900 shares of the bank’s stock worth $7,277,000 after purchasing an additional 72,100 shares in the last quarter. Deprince Race & Zollo Inc. boosted its stake in Orrstown Financial Services by 20.9% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 342,755 shares of the bank’s stock worth $8,158,000 after purchasing an additional 59,328 shares in the last quarter. Millennium Management LLC boosted 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 worth $1,154,000 after purchasing an additional 33,323 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Orrstown Financial Services by 37.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 116,276 shares of the bank’s stock worth $3,023,000 after purchasing an additional 31,522 shares in the last quarter. Finally, EJF Capital LLC boosted 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 worth $2,390,000 after purchasing an additional 26,932 shares in the last quarter. Institutional investors own 38.15% of the company’s stock.
ORRF opened at $19.80 on Friday. Orrstown Financial Services, Inc. has a 12-month low of $19.43 and a 12-month high of $27.05. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.57. The company has a market cap of $186.49 million, a price-to-earnings ratio of 11.43 and a beta of 0.47.
Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings results on Wednesday, October 17th. The bank reported $0.49 earnings per share (EPS) for the quarter, topping 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 company had revenue of $18.20 million during the quarter, compared to analyst estimates of $17.87 million. Analysts expect that Orrstown Financial Services, Inc. will post 1.81 EPS for the current year.
A number of analysts recently commented on the stock. Boenning Scattergood upgraded shares of Orrstown Financial Services from a “neutral” rating to a “buy” rating and set a $24.00 target price for the company 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $29.67.
About Orrstown Financial Services
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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