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

Los Angeles Capital Management LLC lowered its holdings in Orrstown Financial Services Inc (NASDAQ:ORRF) by 17.0% in the 2nd quarter, HoldingsChannel reports. 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’s holdings in Orrstown Financial Services were worth $1,164,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Nuveen LLC purchased a new stake in Orrstown Financial Services in the first quarter worth $1,058,000. Invesco Ltd. increased its position in Orrstown Financial Services by 7.3% during the 1st quarter. Invesco Ltd. now owns 44,142 shares of the bank’s stock valued at $1,325,000 after purchasing an additional 2,987 shares during the period. Trexquant Investment LP bought a new position in Orrstown Financial Services in the 1st quarter worth $243,000. Cubist Systematic Strategies LLC lifted its position 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 worth $1,621,000 after purchasing an additional 24,478 shares during the period. Finally, Cetera Investment Advisers lifted 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 purchasing an additional 2,075 shares during the period. 44.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. 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. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $42.00 price objective (up from $39.00) on shares of Orrstown Financial Services in a research report on Thursday, July 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of Orrstown Financial Services in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered Orrstown Financial Services from a “buy” rating to a “hold” rating in a research report on Saturday, August 16th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $39.25.

Orrstown Financial Services Price Performance

Shares of ORRF opened at $34.43 on Thursday. Orrstown Financial Services Inc has a fifty-two week low of $25.57 and a fifty-two week high of $41.65. The firm’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 cap of $671.39 million, a PE ratio of 9.11 and a beta of 0.87. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.87 and a current ratio of 0.87.

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

Orrstown Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 12th. Stockholders of record on Wednesday, November 5th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Wednesday, November 5th. Orrstown Financial Services’s dividend payout ratio is currently 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.