Quantbot Technologies LP Buys 12,183 Shares of Orrstown Financial Services Inc $ORRF

Key Points

• Quantbot Technologies LP significantly increased its stake in Orrstown Financial Services by 350.3%, owning 15,661 shares valued at approximately $470,000, according to its latest SEC filing.
• Orrstown Financial Services reported a quarterly EPS of $1.04, surpassing analyst expectations, and has declared a dividend increase from $0.26 to $0.27, reflecting a 3.1% yield.
• Analysts maintain a generally positive outlook on the stock, with an average rating of "Buy" and a consensus price target of $39.25.

Quantbot Technologies LP increased its position in shares of Orrstown Financial Services Inc (NASDAQ:ORRF - Free Report) by 350.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,661 shares of the bank's stock after acquiring an additional 12,183 shares during the quarter. Quantbot Technologies LP owned about 0.08% of Orrstown Financial Services worth $470,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nuveen LLC bought a new stake in Orrstown Financial Services during the 1st quarter worth about $1,058,000. Entropy Technologies LP acquired a new stake in shares of Orrstown Financial Services during the 1st quarter worth approximately $270,000. Invesco Ltd. raised its stake 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 worth $1,325,000 after buying an additional 2,987 shares during the last quarter. Deutsche Bank AG raised its stake in shares of Orrstown Financial Services by 4.7% during the first quarter. Deutsche Bank AG now owns 15,690 shares of the bank's stock worth $471,000 after buying an additional 705 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Orrstown Financial Services by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,049,610 shares of the bank's stock valued at $31,499,000 after buying an additional 6,744 shares during the period. 44.27% of the stock is currently owned by institutional investors and hedge funds.

Orrstown Financial Services Trading Up 0.1%

Shares of ORRF traded up $0.03 during trading hours on Friday, reaching $34.85. The stock had a trading volume of 196,960 shares, compared to its average volume of 135,192. The company has a market cap of $679.23 million, a P/E ratio of 15.56 and a beta of 0.86. Orrstown Financial Services Inc has a 52 week low of $25.57 and a 52 week high of $41.99. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average of $33.33 and a 200 day moving average of $31.25.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The bank reported $1.04 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $62.43 million for the quarter, compared to analyst estimates of $51.98 million. On average, sell-side analysts expect that Orrstown Financial Services Inc will post 4.23 earnings per share for the current fiscal year.

Orrstown Financial Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th were given a $0.27 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $1.08 annualized dividend and a dividend yield of 3.1%. This is a boost from Orrstown Financial Services's previous quarterly dividend of $0.26. Orrstown Financial Services's payout ratio is presently 48.21%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Hovde Group lifted their target price on shares of Orrstown Financial Services from $35.00 to $37.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. Wall Street Zen lowered Orrstown Financial Services from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $42.00 price objective (up previously from $39.00) on shares of Orrstown Financial Services in a report on Thursday, July 24th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $39.25.

About Orrstown Financial Services

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.