Hillsdale Investment Management Inc. Takes Position in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Hillsdale Investment Management Inc. acquired a new stake in Orrstown Financial Services, Inc. (NASDAQ:ORRF) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 5,742 shares of the bank’s stock, valued at approximately $169,000. Hillsdale Investment Management Inc. owned approximately 0.05% of Orrstown Financial Services as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ORRF. FMR LLC increased its stake in shares of Orrstown Financial Services by 18.9% in the 3rd quarter. FMR LLC now owns 693,031 shares of the bank’s stock valued at $14,561,000 after acquiring an additional 110,197 shares in the last quarter. Kennedy Capital Management LLC bought a new stake in Orrstown Financial Services during the 3rd quarter valued at $365,000. Pacific Ridge Capital Partners LLC increased its stake in Orrstown Financial Services by 5.2% during the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 222,684 shares of the bank’s stock valued at $4,679,000 after purchasing an additional 11,051 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Orrstown Financial Services during the 3rd quarter valued at $228,000. Finally, RKL Wealth Management LLC bought a new stake in Orrstown Financial Services during the 3rd quarter valued at $203,000. Institutional investors own 44.27% of the company’s stock.

Orrstown Financial Services Stock Performance

NASDAQ ORRF opened at $26.80 on Wednesday. Orrstown Financial Services, Inc. has a 1 year low of $17.27 and a 1 year high of $29.79. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $287.30 million, a price-to-earnings ratio of 8.00 and a beta of 0.87. The company has a fifty day moving average price of $26.09 and a 200-day moving average price of $26.39.

Orrstown Financial Services (NASDAQ:ORRF) last posted its earnings results on Tuesday, April 23rd. The bank reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.15. The firm had revenue of $33.51 million during the quarter, compared to analyst estimates of $32.01 million. Orrstown Financial Services had a net margin of 18.99% and a return on equity of 14.31%. As a group, equities research analysts predict that Orrstown Financial Services, Inc. will post 3.51 EPS for the current fiscal year.

Orrstown Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Tuesday, May 7th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date was Monday, May 6th. Orrstown Financial Services’s dividend payout ratio (DPR) is currently 23.88%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Hovde Group decreased their price target on shares of Orrstown Financial Services from $34.00 to $33.00 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods boosted their price target on shares of Orrstown Financial Services from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th.

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.