Quantinno Capital Management LP Boosts Stake in Orrstown Financial Services Inc $ORRF

Quantinno Capital Management LP raised its stake in shares of Orrstown Financial Services Inc (NASDAQ:ORRF) by 75.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,365 shares of the bank’s stock after acquiring an additional 11,808 shares during the quarter. Quantinno Capital Management LP owned approximately 0.14% of Orrstown Financial Services worth $987,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Quarry LP purchased a new stake in shares of Orrstown Financial Services during the 3rd quarter worth $42,000. Raymond James Financial Inc. purchased a new position in Orrstown Financial Services in the second quarter valued at about $45,000. Tower Research Capital LLC TRC raised its holdings in 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 worth $56,000 after purchasing an additional 810 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Orrstown Financial Services by 220.4% in the third quarter. Russell Investments Group Ltd. now owns 2,070 shares of the bank’s stock worth $70,000 after purchasing an additional 1,424 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Orrstown Financial Services by 120.7% in the third quarter. BNP Paribas Financial Markets now owns 4,061 shares of the bank’s stock worth $138,000 after purchasing an additional 2,221 shares in the last quarter. 44.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Amy Doll sold 3,002 shares of Orrstown Financial Services stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $41.61, for a total transaction of $124,913.22. Following the completion of the sale, the executive vice president owned 25,669 shares of the company’s stock, valued at $1,068,087.09. The trade was a 10.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.30% of the stock is currently owned by insiders.

Orrstown Financial Services Price Performance

Shares of ORRF opened at $43.34 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.87 and a quick ratio of 0.87. The company’s fifty day moving average price is $41.14 and its 200-day moving average price is $38.24. Orrstown Financial Services Inc has a 1-year low of $31.87 and a 1-year high of $43.81. The firm has a market capitalization of $852.50 million, a PE ratio of 9.74 and a beta of 0.69.

Orrstown Financial Services (NASDAQ:ORRF) last issued its earnings results on Wednesday, July 22nd. The bank reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.06. Orrstown Financial Services had a return on equity of 14.46% and a net margin of 24.00%.The company had revenue of $62.67 million during the quarter, compared to analyst estimates of $64.10 million. On average, equities research analysts predict that Orrstown Financial Services Inc will post 4.41 EPS for the current year.

Orrstown Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, August 4th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Tuesday, August 4th. Orrstown Financial Services’s dividend payout ratio (DPR) is presently 26.97%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. DA Davidson restated a “neutral” rating and issued a $41.00 price target on shares of Orrstown Financial Services in a report on Wednesday, July 22nd. Raymond James Financial initiated coverage on shares of Orrstown Financial Services in a research report on Thursday, July 9th. They set a “market perform” rating for the company. Keefe, Bruyette & Woods raised their target price on shares of Orrstown Financial Services from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Orrstown Financial Services in a report on Tuesday, July 7th. Finally, Hovde Group boosted their target price on Orrstown Financial Services from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Orrstown Financial Services presently has a consensus rating of “Moderate Buy” and an average price target of $44.33.

Orrstown Financial Services Profile

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.