Martingale Asset Management L P Takes Position in Orrstown Financial Services, Inc. (ORRF)

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Martingale Asset Management L P bought a new position in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 28,015 shares of the bank’s stock, valued at approximately $511,000. Martingale Asset Management L P owned about 0.30% of Orrstown Financial Services at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ORRF. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Orrstown Financial Services in the 4th quarter valued at $88,000. Rhumbline Advisers bought a new stake in shares of Orrstown Financial Services during the 4th quarter worth $189,000. BB&T Corp bought a new stake in shares of Orrstown Financial Services during the 4th quarter worth $279,000. Panagora Asset Management Inc. lifted its position in shares of Orrstown Financial Services by 424.0% during the 3rd quarter. Panagora Asset Management Inc. now owns 15,757 shares of the bank’s stock worth $375,000 after buying an additional 12,750 shares during the last quarter. Finally, Ativo Capital Management LLC lifted its position in shares of Orrstown Financial Services by 32.0% during the 3rd quarter. Ativo Capital Management LLC now owns 33,013 shares of the bank’s stock worth $786,000 after buying an additional 8,005 shares during the last quarter. Hedge funds and other institutional investors own 38.87% of the company’s stock.

Shares of ORRF opened at $19.64 on Friday. Orrstown Financial Services, Inc. has a 12-month low of $17.30 and a 12-month high of $27.05. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $178.28 million, a price-to-earnings ratio of 10.85 and a beta of 0.63.

Orrstown Financial Services (NASDAQ:ORRF) last issued its earnings results on Wednesday, January 23rd. The bank reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.10). Orrstown Financial Services had a return on equity of 10.40% and a net margin of 14.77%. The firm had revenue of $19.78 million during the quarter, compared to analyst estimates of $20.21 million. As a group, research analysts forecast that Orrstown Financial Services, Inc. will post 1.7 earnings per share for the current fiscal year.

ORRF has been the subject of several recent analyst reports. Zacks Investment Research downgraded Orrstown Financial Services from a “buy” rating to a “hold” rating in a research report on Wednesday, December 26th. ValuEngine downgraded Orrstown Financial Services from a “hold” rating to a “sell” rating in a research report on Tuesday, January 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $26.33.

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About Orrstown Financial Services

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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Want to see what other hedge funds are holding ORRF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Orrstown Financial Services, Inc. (NASDAQ:ORRF).

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

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