Inspire Investing LLC Buys New Shares in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Inspire Investing LLC purchased a new stake in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 30,929 shares of the bank’s stock, valued at approximately $846,000. Inspire Investing LLC owned about 0.29% of Orrstown Financial Services at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ORRF. EntryPoint Capital LLC acquired a new stake in Orrstown Financial Services during the first quarter worth approximately $31,000. CWM LLC grew its position in shares of Orrstown Financial Services by 227.9% during the 2nd quarter. CWM LLC now owns 1,692 shares of the bank’s stock worth $46,000 after buying an additional 1,176 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Orrstown Financial Services by 92.9% in the 1st quarter. BNP Paribas Financial Markets now owns 5,227 shares of the bank’s stock valued at $140,000 after acquiring an additional 2,518 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Orrstown Financial Services in the 2nd quarter valued at $154,000. Finally, Vista Investment Management acquired a new position in shares of Orrstown Financial Services during the 4th quarter valued at $229,000. 44.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on ORRF shares. Janney Montgomery Scott started coverage on shares of Orrstown Financial Services in a report on Friday, June 28th. They issued a “buy” rating and a $32.00 price target for the company. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $32.00 target price on shares of Orrstown Financial Services in a research note on Tuesday, June 18th. Finally, Hovde Group upped their price target on Orrstown Financial Services from $33.00 to $37.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th.

Orrstown Financial Services Stock Down 2.4 %

Shares of NASDAQ ORRF opened at $35.55 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87. The company has a 50-day moving average price of $33.86 and a 200-day moving average price of $28.86. The stock has a market capitalization of $688.60 million, a P/E ratio of 10.61 and a beta of 0.90. Orrstown Financial Services, Inc. has a 1 year low of $20.00 and a 1 year high of $36.65.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.10. Orrstown Financial Services had a return on equity of 13.45% and a net margin of 17.26%. The firm had revenue of $50.45 million during the quarter, compared to analyst estimates of $31.60 million. On average, equities research analysts forecast that Orrstown Financial Services, Inc. will post 3.61 EPS for the current fiscal year.

Orrstown Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.59%. This is an increase from Orrstown Financial Services’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, August 8th. Orrstown Financial Services’s payout ratio is currently 27.46%.

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.