17,475 Shares in Orrstown Financial Services Inc $ORRF Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new position in shares of Orrstown Financial Services Inc (NASDAQ:ORRF) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 17,475 shares of the bank’s stock, valued at approximately $594,000. Y Intercept Hong Kong Ltd owned about 0.09% of Orrstown Financial Services at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Inspire Advisors LLC grew its position in shares of Orrstown Financial Services by 1.0% during the 3rd quarter. Inspire Advisors LLC now owns 32,308 shares of the bank’s stock worth $1,098,000 after buying an additional 308 shares during the period. Rosenthal Henry Capital Advisors Inc. acquired a new position in Orrstown Financial Services in the third quarter valued at approximately $1,668,000. State of Alaska Department of Revenue bought a new position in Orrstown Financial Services in the third quarter valued at approximately $26,000. Financial Consulate Inc. bought a new position in Orrstown Financial Services in the third quarter valued at approximately $36,000. Finally, CWM LLC grew its holdings in Orrstown Financial Services by 68.6% during the 3rd quarter. CWM LLC now owns 4,075 shares of the bank’s stock worth $138,000 after acquiring an additional 1,658 shares during the period. 44.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ORRF shares. Hovde Group increased their price target on Orrstown Financial Services from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Orrstown Financial Services in a report on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.67.

Orrstown Financial Services Price Performance

ORRF opened at $38.07 on Wednesday. The stock has a market cap of $742.37 million, a P/E ratio of 9.11 and a beta of 0.83. Orrstown Financial Services Inc has a 12 month low of $25.57 and a 12 month high of $38.38. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.06. The company has a fifty day simple moving average of $36.44 and a 200 day simple moving average of $34.86.

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

Orrstown Financial Services Increases Dividend

The business also recently announced 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 represents a $1.20 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, February 10th. This is a boost from Orrstown Financial Services’s previous quarterly dividend of $0.27. Orrstown Financial Services’s dividend payout ratio (DPR) is currently 25.84%.

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.