Kennedy Capital Management Inc. acquired a new position in shares of Orrstown Financial Services Inc (NASDAQ:ORRF) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 19,351 shares of the bank’s stock, valued at approximately $442,000. Kennedy Capital Management Inc. owned 0.24% of Orrstown Financial Services as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ORRF. American International Group Inc. raised its holdings in shares of Orrstown Financial Services by 7.2% during the first quarter. American International Group Inc. now owns 4,559 shares of the bank’s stock worth $102,000 after acquiring an additional 306 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Orrstown Financial Services during the first quarter worth $138,000. Bank of New York Mellon Corp raised its holdings in shares of Orrstown Financial Services by 24.8% during the first quarter. Bank of New York Mellon Corp now owns 32,494 shares of the bank’s stock worth $726,000 after acquiring an additional 6,462 shares during the period. Geode Capital Management LLC raised its holdings in shares of Orrstown Financial Services by 3.6% during the first quarter. Geode Capital Management LLC now owns 51,019 shares of the bank’s stock worth $1,140,000 after acquiring an additional 1,759 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Orrstown Financial Services by 17.0% during the first quarter. Wellington Management Group LLP now owns 79,813 shares of the bank’s stock worth $1,784,000 after acquiring an additional 11,578 shares during the period. Institutional investors and hedge funds own 37.97% of the company’s stock.

Shares of Orrstown Financial Services Inc (NASDAQ:ORRF) opened at 24.80 on Friday. Orrstown Financial Services Inc has a one year low of $18.05 and a one year high of $26.55. The firm has a market capitalization of $206.91 million, a price-to-earnings ratio of 23.37 and a beta of 0.89. The company’s 50 day moving average is $24.82 and its 200-day moving average is $22.52.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings data on Wednesday, July 26th. The bank reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.13. Orrstown Financial Services had a net margin of 13.25% and a return on equity of 6.25%. The firm had revenue of $16.34 million for the quarter, compared to the consensus estimate of $16.09 million. Equities analysts expect that Orrstown Financial Services Inc will post $1.34 EPS for the current year.

A number of equities research analysts recently commented on ORRF shares. Keefe, Bruyette & Woods upgraded shares of Orrstown Financial Services from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $24.00 to $28.00 in a report on Thursday, July 27th. Zacks Investment Research lowered shares of Orrstown Financial Services from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 29th.

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About Orrstown Financial Services

Orrstown Financial Services, Inc is the bank holding company for Orrstown Bank (the Bank). The Bank is engaged in commercial banking and trust business. The Company operates through Community Banking segment. The Bank’s activities involve accepting demand, time and savings deposits, and granting loans.

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

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