Farmers & Merchants Trust Co of Chambersburg PA Acquires 2,400 Shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in Orrstown Financial Services, Inc. (NASDAQ:ORRF) by 49.6% in the second quarter, Holdings Channel reports. The firm owned 7,242 shares of the bank’s stock after purchasing an additional 2,400 shares during the quarter. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in Orrstown Financial Services were worth $159,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Orrstown Financial Services by 4.0% in the fourth quarter. BlackRock Inc. now owns 560,245 shares of the bank’s stock valued at $10,202,000 after acquiring an additional 21,695 shares during the period. Bank of New York Mellon Corp increased its stake in Orrstown Financial Services by 57.8% in the fourth quarter. Bank of New York Mellon Corp now owns 53,129 shares of the bank’s stock valued at $968,000 after acquiring an additional 19,458 shares during the period. Dimensional Fund Advisors LP increased its stake in Orrstown Financial Services by 14.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 164,116 shares of the bank’s stock valued at $2,989,000 after acquiring an additional 20,494 shares during the period. Geode Capital Management LLC increased its stake in Orrstown Financial Services by 19.5% in the fourth quarter. Geode Capital Management LLC now owns 78,061 shares of the bank’s stock valued at $1,421,000 after acquiring an additional 12,760 shares during the period. Finally, Bank of America Corp DE increased its stake in Orrstown Financial Services by 20.5% in the fourth quarter. Bank of America Corp DE now owns 6,909 shares of the bank’s stock valued at $127,000 after acquiring an additional 1,177 shares during the period. 39.64% of the stock is owned by institutional investors and hedge funds.

Orrstown Financial Services stock traded up $0.78 during trading hours on Tuesday, hitting $22.75. 55 shares of the stock were exchanged, compared to its average volume of 15,593. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $207.56 million, a PE ratio of 12.44 and a beta of 0.60. Orrstown Financial Services, Inc. has a 12 month low of $17.30 and a 12 month high of $26.50. The stock has a 50-day moving average of $21.71.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Monday, August 5th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, August 2nd. This represents a $0.60 annualized dividend and a yield of 2.64%. Orrstown Financial Services’s dividend payout ratio is 33.15%.

ORRF has been the topic of a number of analyst reports. Boenning Scattergood reissued an “outperform” rating and issued a $47.75 target price on shares of WSFS Financial in a research note on Thursday, June 20th. Zacks Investment Research cut shares of Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, June 26th. Hovde Group initiated coverage on shares of Orrstown Financial Services in a research note on Friday, May 31st. They issued an “outperform” rating and a $25.00 target price on the stock. Finally, ValuEngine raised shares of Yirendai from a “strong sell” rating to a “sell” rating in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $23.63.

Orrstown Financial Services Company Profile

Orrstown Financial Services, Inc operates as the holding company for Orrstown Bank that provides commercial banking and trust services in the United States. The company accepts various deposits, including checking, savings, time, demand, and money market deposits. It also offers commercial loans, such as commercial real estate, equipment, working capital, and other commercial purpose loans; consumer loans comprising home equity and other consumer loans, as well as home equity lines of credit; residential mortgage loans; agribusiness loans; acquisition and development loans; municipal loans; and installment and other loans.

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Institutional Ownership by Quarter for Orrstown Financial Services (NASDAQ:ORRF)

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