Penn Capital Management Co. Inc. Acquires 2,338 Shares of Orrstown Financial Services, Inc. (ORRF)

Penn Capital Management Co. Inc. lifted its holdings in Orrstown Financial Services, Inc. (NASDAQ:ORRF) by 5.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,044 shares of the bank’s stock after acquiring an additional 2,338 shares during the quarter. Penn Capital Management Co. Inc. owned 0.48% of Orrstown Financial Services worth $820,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Millennium Management LLC increased its stake in Orrstown Financial Services by 8.9% during the 4th quarter. Millennium Management LLC now owns 26,115 shares of the bank’s stock worth $476,000 after buying an additional 2,126 shares during the period. Globeflex Capital L P purchased a new stake in Orrstown Financial Services during the 4th quarter worth approximately $220,000. Bank of America Corp DE increased its stake in Orrstown Financial Services by 20.5% during the 4th quarter. Bank of America Corp DE now owns 6,909 shares of the bank’s stock worth $127,000 after buying an additional 1,177 shares during the period. Geode Capital Management LLC increased its stake in Orrstown Financial Services by 19.5% during the 4th quarter. Geode Capital Management LLC now owns 78,061 shares of the bank’s stock worth $1,421,000 after buying an additional 12,760 shares during the period. Finally, EJF Capital LLC increased its stake in Orrstown Financial Services by 66.5% during the 4th quarter. EJF Capital LLC now owns 167,235 shares of the bank’s stock worth $3,045,000 after buying an additional 66,803 shares during the period. Hedge funds and other institutional investors own 38.68% of the company’s stock.

Shares of NASDAQ:ORRF traded up $0.75 during trading hours on Friday, reaching $20.00. The stock had a trading volume of 19,963 shares, compared to its average volume of 18,152. Orrstown Financial Services, Inc. has a 1 year low of $17.30 and a 1 year high of $27.05. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.66. The company has a market cap of $189.64 million, a PE ratio of 11.05 and a beta of 0.62.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings data on Wednesday, January 23rd. The bank reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.10). Orrstown Financial Services had a net margin of 14.77% and a return on equity of 9.91%. The firm had revenue of $19.78 million during the quarter, compared to analysts’ expectations of $20.21 million. As a group, equities research analysts expect that Orrstown Financial Services, Inc. will post 1.7 EPS for the current year.

Several equities research analysts recently weighed in on ORRF shares. Zacks Investment Research raised shares of Orrstown Financial Services from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Saturday, January 19th. ValuEngine raised shares of Orrstown Financial Services from a “sell” rating to a “hold” rating in a research note on Wednesday, February 13th. Finally, Sandler O’Neill downgraded shares of Orrstown Financial Services from a “buy” rating to a “hold” rating and cut their target price for the stock from $22.00 to $21.50 in a research note on Friday, March 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Orrstown Financial Services presently has an average rating of “Hold” and a consensus target price of $25.13.

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

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