AQR Capital Management LLC Acquires Shares of 38,322 Orrstown Financial Services, Inc. (NASDAQ:ORRF)

AQR Capital Management LLC bought a new position in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 38,322 shares of the bank’s stock, valued at approximately $1,048,000. AQR Capital Management LLC owned about 0.36% of Orrstown Financial Services as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of ORRF. EntryPoint Capital LLC bought a new stake in shares of Orrstown Financial Services in the first quarter worth about $31,000. CWM LLC raised its holdings 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 acquiring an additional 1,176 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Orrstown Financial Services by 92.9% during 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 during the last quarter. SG Americas Securities LLC purchased a new position in shares of Orrstown Financial Services in the second quarter valued at $154,000. Finally, Quadrature Capital Ltd bought a new stake in Orrstown Financial Services in the fourth quarter worth $234,000. 44.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Orrstown Financial Services Trading Up 2.7 %

ORRF stock opened at $35.85 on Friday. Orrstown Financial Services, Inc. has a twelve month low of $20.00 and a twelve month high of $36.65. The stock has a market capitalization of $694.41 million, a price-to-earnings ratio of 11.42 and a beta of 0.90. 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 firm’s fifty day simple moving average is $34.58 and its two-hundred day simple moving average is $29.80.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.83 EPS for the quarter, beating the consensus estimate of $0.73 by $0.10. The company had revenue of $50.45 million for the quarter, compared to the consensus estimate of $31.60 million. Orrstown Financial Services had a net margin of 17.26% and a return on equity of 13.45%. As a group, analysts anticipate that Orrstown Financial Services, Inc. will post 3.61 earnings per share for the current year.

Orrstown Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 8th were paid a dividend of $0.23 per share. This is a positive change from Orrstown Financial Services’s previous quarterly dividend of $0.20. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date was Thursday, August 8th. Orrstown Financial Services’s dividend payout ratio (DPR) is currently 29.30%.

Orrstown Financial Services Company 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.