Rodgers & Associates LTD Buys Shares of 13,333 Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Rodgers & Associates LTD acquired a new stake in Orrstown Financial Services, Inc. (NASDAQ:ORRF) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 13,333 shares of the bank’s stock, valued at approximately $479,000. Rodgers & Associates LTD owned approximately 0.12% of Orrstown Financial Services at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Quadrature Capital Ltd grew its stake in shares of Orrstown Financial Services by 273.6% in the first quarter. Quadrature Capital Ltd now owns 29,666 shares of the bank’s stock valued at $793,000 after buying an additional 21,725 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Orrstown Financial Services by 37.9% in the second quarter. American Century Companies Inc. now owns 149,259 shares of the bank’s stock valued at $4,084,000 after buying an additional 41,016 shares in the last quarter. Inspire Investing LLC acquired a new stake in shares of Orrstown Financial Services in the second quarter valued at $846,000. AQR Capital Management LLC acquired a new stake in shares of Orrstown Financial Services in the second quarter valued at $1,048,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Orrstown Financial Services by 9.1% in the second quarter. Bank of New York Mellon Corp now owns 74,528 shares of the bank’s stock valued at $2,039,000 after buying an additional 6,200 shares in the last quarter. 44.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ORRF has been the subject of several analyst reports. Hovde Group boosted their target price on Orrstown Financial Services from $33.00 to $37.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Janney Montgomery Scott initiated coverage on Orrstown Financial Services in a research note on Friday, June 28th. They set a “buy” rating and a $32.00 target price for the company.

Orrstown Financial Services Stock Down 0.0 %

ORRF traded down $0.01 on Tuesday, hitting $36.36. 8,684 shares of the company were exchanged, compared to its average volume of 74,062. Orrstown Financial Services, Inc. has a twelve month low of $20.00 and a twelve month high of $37.86. The company has a market cap of $389.82 million, a price-to-earnings ratio of 10.86 and a beta of 0.90. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average price of $35.17 and a two-hundred day moving average price of $30.31.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.10. The company had revenue of $50.45 million during the quarter, compared to the consensus estimate of $31.60 million. Orrstown Financial Services had a return on equity of 13.45% and a net margin of 17.26%. On average, equities analysts predict that Orrstown Financial Services, Inc. will post 3.61 earnings per share for the current year.

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.