Y Intercept Hong Kong Ltd Has $1.94 Million Position in Orrstown Financial Services Inc $ORRF

Y Intercept Hong Kong Ltd lifted its holdings in shares of Orrstown Financial Services Inc (NASDAQ:ORRF) by 53.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 53,877 shares of the bank’s stock after purchasing an additional 18,703 shares during the period. Y Intercept Hong Kong Ltd owned 0.27% of Orrstown Financial Services worth $1,944,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. UBS Group AG lifted its position in Orrstown Financial Services by 99.3% during the 4th quarter. UBS Group AG now owns 102,329 shares of the bank’s stock worth $3,624,000 after buying an additional 50,979 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Orrstown Financial Services by 85.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 52,945 shares of the bank’s stock valued at $1,875,000 after acquiring an additional 24,412 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Orrstown Financial Services in the first quarter worth about $10,743,000. AlphaQuest LLC raised its stake in shares of Orrstown Financial Services by 169.8% in the fourth quarter. AlphaQuest LLC now owns 43,992 shares of the bank’s stock worth $1,558,000 after acquiring an additional 27,688 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new position in shares of Orrstown Financial Services during the fourth quarter worth approximately $802,000. 44.27% of the stock is currently owned by institutional investors and hedge funds.

Orrstown Financial Services Price Performance

ORRF opened at $39.64 on Thursday. The company has a fifty day moving average price of $38.13 and a two-hundred day moving average price of $37.07. The firm has a market capitalization of $778.93 million, a PE ratio of 9.07 and a beta of 0.70. Orrstown Financial Services Inc has a 52 week low of $31.51 and a 52 week high of $42.42. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.87 and a current ratio of 0.87.

Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings results on Wednesday, April 22nd. The bank reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.08. Orrstown Financial Services had a return on equity of 14.75% and a net margin of 23.58%.The company had revenue of $64.58 million for the quarter, compared to the consensus estimate of $63.20 million. As a group, analysts anticipate that Orrstown Financial Services Inc will post 4.3 earnings per share for the current year.

Orrstown Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Investors of record on Tuesday, May 5th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, May 5th. This represents a $1.20 dividend on an annualized basis and a yield of 3.0%. Orrstown Financial Services’s payout ratio is currently 27.46%.

Analysts Set New Price Targets

Separately, DA Davidson began coverage on shares of Orrstown Financial Services in a research note on Friday, May 15th. They set a “neutral” rating and a $41.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $41.67.

About Orrstown Financial Services

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.