Kennedy Capital Management LLC Sells 125,931 Shares of Orrstown Financial Services Inc $ORRF

Kennedy Capital Management LLC cut its position in Orrstown Financial Services Inc (NASDAQ:ORRF) by 44.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,792 shares of the bank’s stock after selling 125,931 shares during the quarter. Kennedy Capital Management LLC owned about 0.79% of Orrstown Financial Services worth $5,483,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC raised its stake in Orrstown Financial Services by 5.3% in the fourth quarter. SG Americas Securities LLC now owns 8,797 shares of the bank’s stock valued at $312,000 after buying an additional 440 shares during the period. Vista Investment Management lifted its position in shares of Orrstown Financial Services by 5.6% in the second quarter. Vista Investment Management now owns 8,444 shares of the bank’s stock valued at $269,000 after buying an additional 450 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Orrstown Financial Services by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,009 shares of the bank’s stock valued at $330,000 after buying an additional 490 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Orrstown Financial Services by 86.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,748 shares of the bank’s stock valued at $56,000 after buying an additional 810 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Orrstown Financial Services by 7.1% in the second quarter. First Trust Advisors LP now owns 12,498 shares of the bank’s stock valued at $398,000 after buying an additional 828 shares during the last quarter. 44.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ORRF. DA Davidson initiated coverage on Orrstown Financial Services in a report on Friday, May 15th. They set a “neutral” rating and a $41.00 price target for the company. Weiss Ratings raised shares of Orrstown Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.67.

Insider Activity

In other Orrstown Financial Services news, Director Brian D. Brunner bought 1,000 shares of Orrstown Financial Services stock in a transaction dated Wednesday, March 18th. The stock was bought at an average price of $34.02 per share, with a total value of $34,020.00. Following the completion of the transaction, the director owned 50,529 shares in the company, valued at $1,718,996.58. The trade was a 2.02% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 4.30% of the company’s stock.

Orrstown Financial Services Trading Down 2.1%

ORRF stock opened at $39.09 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.87 and a quick ratio of 0.87. The company has a fifty day moving average price of $37.29 and a two-hundred day moving average price of $36.70. Orrstown Financial Services Inc has a one year low of $29.39 and a one year high of $40.72. The stock has a market cap of $768.12 million, a price-to-earnings ratio of 8.95 and a beta of 0.70.

Orrstown Financial Services (NASDAQ:ORRF) last announced its earnings results on Wednesday, April 22nd. The bank reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.08. The company had revenue of $64.58 million during the quarter, compared to analysts’ expectations of $63.20 million. Orrstown Financial Services had a net margin of 23.58% and a return on equity of 14.75%. Equities analysts anticipate that Orrstown Financial Services Inc will post 4.3 EPS for the current year.

Orrstown Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Tuesday, May 5th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, May 5th. Orrstown Financial Services’s payout ratio is presently 27.46%.

About Orrstown Financial Services

Orrstown Financial Services, Inc is the bank holding company for Orrstown Bank, a community banking organization headquartered in Shippensburg, Pennsylvania. The roots of Orrstown Bank date back to 1865, and the holding company structure was established to support its growth and diversification. As a regional financial institution, Orrstown Financial Services focuses on delivering personalized banking solutions to individuals, families and businesses across Central Pennsylvania.

The company’s core offerings include a full suite of deposit products such as checking and savings accounts, money market accounts and certificates of deposit.