Los Angeles Capital Management LLC Sells 7,515 Shares of Orrstown Financial Services Inc $ORRF

Los Angeles Capital Management LLC lessened its stake in Orrstown Financial Services Inc (NASDAQ:ORRF) by 17.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,566 shares of the bank’s stock after selling 7,515 shares during the period. Los Angeles Capital Management LLC owned approximately 0.19% of Orrstown Financial Services worth $1,164,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in ORRF. AlphaQuest LLC lifted its holdings in shares of Orrstown Financial Services by 313.8% during the 2nd quarter. AlphaQuest LLC now owns 16,497 shares of the bank’s stock worth $525,000 after acquiring an additional 12,510 shares during the last quarter. CWM LLC raised its position in Orrstown Financial Services by 36.9% during the second quarter. CWM LLC now owns 2,417 shares of the bank’s stock valued at $77,000 after purchasing an additional 651 shares in the last quarter. Johnson & White Wealth Management LLC raised its position in Orrstown Financial Services by 34.9% during the second quarter. Johnson & White Wealth Management LLC now owns 12,445 shares of the bank’s stock valued at $396,000 after purchasing an additional 3,223 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in Orrstown Financial Services by 7.4% during the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 7,302 shares of the bank’s stock worth $232,000 after purchasing an additional 500 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Orrstown Financial Services in the 1st quarter worth about $1,080,000. Hedge funds and other institutional investors own 44.27% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on ORRF. Weiss Ratings reissued a “hold (c+)” rating on shares of Orrstown Financial Services in a report on Wednesday, October 8th. Zacks Research cut shares of Orrstown Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. Wall Street Zen downgraded shares of Orrstown Financial Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 16th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $42.00 price objective (up previously from $39.00) on shares of Orrstown Financial Services in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.25.

Orrstown Financial Services Price Performance

Shares of Orrstown Financial Services stock opened at $34.43 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.87 and a quick ratio of 0.87. Orrstown Financial Services Inc has a one year low of $25.57 and a one year high of $41.65. The business’s 50 day simple moving average is $34.12 and its two-hundred day simple moving average is $32.77. The stock has a market capitalization of $671.39 million, a P/E ratio of 9.11 and a beta of 0.87.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings data on Tuesday, November 8th. The bank reported $0.65 earnings per share for the quarter. Orrstown Financial Services had a return on equity of 14.39% and a net margin of 20.48%.The firm had revenue of $28.27 million during the quarter. Analysts forecast that Orrstown Financial Services Inc will post 4.23 EPS for the current year.

Orrstown Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 12th. Shareholders of record on Wednesday, November 5th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, November 5th. Orrstown Financial Services’s dividend payout ratio (DPR) is 28.57%.

Orrstown Financial Services Profile

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.