Dimensional Fund Advisors LP Purchases 7,465 Shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Dimensional Fund Advisors LP raised its holdings in Orrstown Financial Services, Inc. (NASDAQ:ORRF) by 1.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 499,814 shares of the bank’s stock after buying an additional 7,465 shares during the quarter. Dimensional Fund Advisors LP owned about 4.66% of Orrstown Financial Services worth $13,674,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

ORRF has been the topic of a number of recent research reports. Janney Montgomery Scott started coverage on shares of Orrstown Financial Services in a research note on Friday, June 28th. They issued a “buy” rating and a $32.00 price objective on the stock. Hovde Group boosted their price objective on shares of Orrstown Financial Services from $33.00 to $37.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $32.00 target price on shares of Orrstown Financial Services in a report on Tuesday, June 18th.

Orrstown Financial Services Stock Performance

Shares of Orrstown Financial Services stock opened at $35.00 on Friday. Orrstown Financial Services, Inc. has a 12 month low of $20.00 and a 12 month high of $36.65. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. The stock has a market cap of $375.24 million, a PE ratio of 10.45 and a beta of 0.90. The business has a fifty day simple moving average of $34.51 and a 200-day simple moving average of $29.52.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings results 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 net margin of 17.26% and a return on equity of 13.45%. The firm had revenue of $50.45 million during the quarter, compared to analysts’ expectations of $31.60 million. On average, sell-side analysts anticipate that Orrstown Financial Services, Inc. will post 3.61 EPS for the current fiscal year.

Orrstown Financial Services Increases Dividend

The firm also recently declared 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 is an increase from Orrstown Financial Services’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, August 8th. This represents a $0.92 annualized dividend and a yield of 2.63%. Orrstown Financial Services’s dividend payout ratio (DPR) is currently 27.46%.

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.