Beese Fulmer Investment Management Inc. Takes Position in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Beese Fulmer Investment Management Inc. bought a new position in Orrstown Financial Services, Inc. (NASDAQ:ORRF) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 6,737 shares of the bank’s stock, valued at approximately $242,000.

A number of other institutional investors have also bought and sold shares of ORRF. CWM LLC lifted its position in shares of Orrstown Financial Services by 31.0% in the third quarter. CWM LLC now owns 2,217 shares of the bank’s stock valued at $80,000 after acquiring an additional 525 shares in the last quarter. EntryPoint Capital LLC purchased a new position in Orrstown Financial Services in the 1st quarter worth approximately $31,000. Empowered Funds LLC boosted its stake in Orrstown Financial Services by 7.7% in the 1st quarter. Empowered Funds LLC now owns 22,092 shares of the bank’s stock worth $591,000 after purchasing an additional 1,575 shares during the period. BNP Paribas Financial Markets grew its holdings in Orrstown Financial Services by 92.9% during the 1st quarter. BNP Paribas Financial Markets now owns 5,227 shares of the bank’s stock valued at $140,000 after buying an additional 2,518 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Orrstown Financial Services by 65.3% during the third quarter. SG Americas Securities LLC now owns 9,318 shares of the bank’s stock valued at $335,000 after buying an additional 3,682 shares during the last quarter. Hedge funds and other institutional investors own 44.27% of the company’s stock.

Analyst Upgrades and Downgrades

ORRF has been the subject of several research analyst reports. Janney Montgomery Scott assumed coverage on shares of 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. Hovde Group raised their price objective on Orrstown Financial Services from $37.00 to $42.00 and gave the company an “outperform” rating in a research report on Wednesday.

Orrstown Financial Services Stock Up 0.5 %

NASDAQ ORRF opened at $37.75 on Friday. The stock has a 50 day moving average price of $35.46 and a 200-day moving average price of $30.49. Orrstown Financial Services, Inc. has a one year low of $20.25 and a one year high of $38.81. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $731.22 million, a P/E ratio of 20.30 and a beta of 0.90.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $1.11 EPS for the quarter, beating the consensus estimate of $0.92 by $0.19. Orrstown Financial Services had a net margin of 6.63% and a return on equity of 17.66%. The business had revenue of $95.37 million during the quarter, compared to analyst estimates of $60.90 million. As a group, equities analysts predict that Orrstown Financial Services, Inc. will post 3.61 EPS for the current fiscal year.

Orrstown Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, November 5th will be given a $0.23 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $0.92 annualized dividend and a yield of 2.44%. Orrstown Financial Services’s dividend payout ratio is currently 49.46%.

Orrstown Financial Services Company 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.