Entropy Technologies LP Makes New $270,000 Investment in Orrstown Financial Services Inc (NASDAQ:ORRF)

Entropy Technologies LP purchased a new stake in Orrstown Financial Services Inc (NASDAQ:ORRF - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,000 shares of the bank's stock, valued at approximately $270,000.

A number of other large investors also recently made changes to their positions in the stock. Summit Investment Advisors Inc. lifted its stake in shares of Orrstown Financial Services by 21.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,942 shares of the bank's stock valued at $71,000 after purchasing an additional 349 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Orrstown Financial Services by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,519 shares of the bank's stock valued at $385,000 after purchasing an additional 456 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Orrstown Financial Services by 3.2% in the 1st quarter. Principal Financial Group Inc. now owns 14,997 shares of the bank's stock valued at $450,000 after purchasing an additional 462 shares during the period. Sterling Capital Management LLC lifted its stake in shares of Orrstown Financial Services by 4.9% in the 4th quarter. Sterling Capital Management LLC now owns 11,258 shares of the bank's stock valued at $412,000 after purchasing an additional 524 shares during the period. Finally, Deutsche Bank AG lifted its stake in shares of Orrstown Financial Services by 4.7% in the 1st quarter. Deutsche Bank AG now owns 15,690 shares of the bank's stock valued at $471,000 after purchasing an additional 705 shares during the period. Institutional investors and hedge funds own 44.27% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ORRF shares. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $42.00 price target (up previously from $39.00) on shares of Orrstown Financial Services in a research note on Thursday, July 24th. Hovde Group upped their price objective on shares of Orrstown Financial Services from $35.00 to $37.00 and gave the company an "outperform" rating in a research report on Wednesday, May 14th. Finally, Wall Street Zen upgraded shares of Orrstown Financial Services from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $39.25.

Orrstown Financial Services Price Performance

ORRF opened at $33.87 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.13. Orrstown Financial Services Inc has a 12 month low of $25.57 and a 12 month high of $41.99. The company has a fifty day simple moving average of $32.51 and a 200 day simple moving average of $31.37. The stock has a market cap of $660.13 million, a P/E ratio of 15.12 and a beta of 0.83.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The bank reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $0.99 by $0.05. The business had revenue of $62.43 million during the quarter, compared to analysts' expectations of $51.98 million. Orrstown Financial Services had a net margin of 11.97% and a return on equity of 14.69%. On average, research analysts expect that Orrstown Financial Services Inc will post 4.23 EPS for the current year.

Orrstown Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th were issued a dividend of $0.27 per share. This is a boost from Orrstown Financial Services's previous quarterly dividend of $0.26. The ex-dividend date was Tuesday, August 5th. This represents a $1.08 dividend on an annualized basis and a yield of 3.2%. Orrstown Financial Services's dividend payout ratio is currently 48.21%.

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.

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