Geode Capital Management LLC Acquires 22,191 Shares of Orrstown Financial Services Inc $ORRF

Geode Capital Management LLC boosted its stake in shares of Orrstown Financial Services Inc (NASDAQ:ORRF) by 5.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 466,343 shares of the bank’s stock after buying an additional 22,191 shares during the period. Geode Capital Management LLC owned 2.39% of Orrstown Financial Services worth $14,846,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen LLC bought a new stake in Orrstown Financial Services during the first quarter valued at about $1,058,000. Invesco Ltd. lifted its position in shares of Orrstown Financial Services by 7.3% during the first quarter. Invesco Ltd. now owns 44,142 shares of the bank’s stock valued at $1,325,000 after buying an additional 2,987 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Orrstown Financial Services in the 1st quarter valued at about $243,000. Cubist Systematic Strategies LLC boosted its holdings in shares of Orrstown Financial Services by 82.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 54,019 shares of the bank’s stock valued at $1,621,000 after buying an additional 24,478 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in shares of Orrstown Financial Services by 5.0% in the 1st quarter. Cetera Investment Advisers now owns 43,829 shares of the bank’s stock worth $1,315,000 after buying an additional 2,075 shares during the last quarter. Institutional investors own 44.27% of the company’s stock.

Orrstown Financial Services Trading Up 1.5%

Shares of Orrstown Financial Services stock opened at $36.29 on Tuesday. The firm’s 50 day simple moving average is $34.06 and its two-hundred day simple moving average is $33.21. The firm has a market capitalization of $707.66 million, a price-to-earnings ratio of 9.60 and a beta of 0.82. Orrstown Financial Services Inc has a 12-month low of $25.57 and a 12-month high of $40.55. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.06.

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

Orrstown Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 12th. Stockholders of record on Wednesday, November 5th were issued a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, November 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.0%. Orrstown Financial Services’s dividend payout ratio is currently 28.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ORRF shares. 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 Orrstown Financial Services from a “buy” rating to a “hold” rating in a research report on Saturday, August 16th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Orrstown Financial Services in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Orrstown Financial Services presently has an average rating of “Moderate Buy” and an average price target of $39.25.

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.