EntryPoint Capital LLC Makes New $342,000 Investment in Orrstown Financial Services Inc $ORRF

Key Points

• EntryPoint Capital LLC acquired 11,409 shares of Orrstown Financial Services Inc, valued at approximately $342,000, representing about 0.06% of the company's stock.
• The recently increased dividend is $0.27 per share, up from $0.26, providing an annualized yield of 3.3% with a dividend payout ratio of 48.21%.
• Orrstown Financial Services reported earnings of $1.04 per share for the last quarter, surpassing estimates and marking strong revenue growth at $62.43 million.

EntryPoint Capital LLC acquired a new stake in Orrstown Financial Services Inc (NASDAQ:ORRF - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 11,409 shares of the bank's stock, valued at approximately $342,000. EntryPoint Capital LLC owned approximately 0.06% of Orrstown Financial Services at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Orrstown Financial Services by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,519 shares of the bank's stock worth $385,000 after purchasing an additional 456 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Orrstown Financial Services by 3.2% during the 1st quarter. Principal Financial Group Inc. now owns 14,997 shares of the bank's stock worth $450,000 after purchasing an additional 462 shares during the last quarter. Deutsche Bank AG increased its holdings in Orrstown Financial Services by 4.7% during the 1st quarter. Deutsche Bank AG now owns 15,690 shares of the bank's stock worth $471,000 after purchasing an additional 705 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its holdings in Orrstown Financial Services by 0.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 157,379 shares of the bank's stock worth $5,762,000 after purchasing an additional 1,083 shares during the last quarter. 44.27% of the stock is owned by institutional investors and hedge funds.

Orrstown Financial Services Stock Performance

NASDAQ:ORRF traded up $1.67 during midday trading on Friday, reaching $34.82. 275,716 shares of the company traded hands, compared to its average volume of 146,767. Orrstown Financial Services Inc has a twelve month low of $25.57 and a twelve month high of $41.99. The firm has a market capitalization of $678.64 million, a price-to-earnings ratio of 15.54 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.87 and a quick ratio of 0.87. The company has a fifty day moving average price of $32.83 and a 200 day moving average price of $31.23.

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

Orrstown Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th were given 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 3.1%. Orrstown Financial Services's payout ratio is presently 48.21%.

Analysts Set New Price Targets

Several research firms have issued reports on ORRF. Keefe, Bruyette & Woods restated an "outperform" rating and set a $42.00 price objective (up from $39.00) on shares of Orrstown Financial Services in a report on Thursday, July 24th. Hovde Group lifted their price objective on Orrstown Financial Services from $35.00 to $37.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. Finally, Wall Street Zen downgraded Orrstown Financial Services from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Orrstown Financial Services currently has a consensus rating of "Buy" and a consensus 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.