Y Intercept Hong Kong Ltd Makes New $594,000 Investment in Orrstown Financial Services Inc $ORRF

Y Intercept Hong Kong Ltd acquired a new position in Orrstown Financial Services Inc (NASDAQ:ORRF) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,475 shares of the bank’s stock, valued at approximately $594,000.

Several other large investors have also added to or reduced their stakes in ORRF. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Orrstown Financial Services by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,009 shares of the bank’s stock valued at $330,000 after buying an additional 490 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Orrstown Financial Services by 123.8% in the 1st quarter. Millennium Management LLC now owns 330,322 shares of the bank’s stock valued at $9,913,000 after acquiring an additional 182,709 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Orrstown Financial Services by 2.9% in the first quarter. Goldman Sachs Group Inc. now owns 85,047 shares of the bank’s stock valued at $2,552,000 after acquiring an additional 2,417 shares during the last quarter. Jane Street Group LLC bought a new stake in Orrstown Financial Services during the first quarter worth about $1,080,000. Finally, CWM LLC boosted its position in Orrstown Financial Services by 36.9% during the second quarter. CWM LLC now owns 2,417 shares of the bank’s stock valued at $77,000 after purchasing an additional 651 shares during the last quarter. Institutional investors and hedge funds own 44.27% of the company’s stock.

Orrstown Financial Services Price Performance

NASDAQ:ORRF opened at $38.07 on Wednesday. The company has a market cap of $742.37 million, a P/E ratio of 9.11 and a beta of 0.83. The firm’s fifty day moving average price is $36.44 and its two-hundred day moving average price is $34.86. Orrstown Financial Services Inc has a one year low of $25.57 and a one year high of $38.38. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.87 and a quick ratio of 0.87.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings results on Tuesday, January 27th. The bank reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.03. The business had revenue of $64.92 million for the quarter, compared to analyst estimates of $51.54 million. Orrstown Financial Services had a net margin of 22.71% and a return on equity of 15.04%. Equities analysts expect that Orrstown Financial Services Inc will post 4.23 earnings per share for the current year.

Orrstown Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Tuesday, February 10th will be paid a $0.30 dividend. This is a boost from Orrstown Financial Services’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, February 10th. This represents a $1.20 annualized dividend and a yield of 3.2%. Orrstown Financial Services’s dividend payout ratio is presently 25.84%.

Analyst Ratings Changes

ORRF has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Orrstown Financial Services in a research report on Thursday, January 22nd. Hovde Group raised their target price on shares of Orrstown Financial Services from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $39.67.

Orrstown Financial Services Company Profile

Orrstown Financial Services, Inc is the bank holding company for Orrstown Bank, a community banking organization headquartered in Shippensburg, Pennsylvania. The roots of Orrstown Bank date back to 1865, and the holding company structure was established to support its growth and diversification. As a regional financial institution, Orrstown Financial Services focuses on delivering personalized banking solutions to individuals, families and businesses across Central Pennsylvania.

The company’s core offerings include a full suite of deposit products such as checking and savings accounts, money market accounts and certificates of deposit.