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

Y Intercept Hong Kong Ltd boosted its holdings in shares of Orrstown Financial Services Inc (NASDAQ:ORRF) by 53.2% during the 1st quarter, HoldingsChannel.com reports. 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’s holdings in Orrstown Financial Services were worth $1,944,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of Orrstown Financial Services in the third quarter worth about $42,000. Raymond James Financial Inc. acquired a new stake in shares of Orrstown Financial Services during the second quarter worth about $45,000. Tower Research Capital LLC TRC lifted its holdings in shares of Orrstown Financial Services by 86.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,748 shares of the bank’s stock valued at $56,000 after purchasing an additional 810 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Orrstown Financial Services by 220.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,070 shares of the bank’s stock valued at $70,000 after purchasing an additional 1,424 shares during the period. Finally, State of Wyoming acquired a new position in shares of Orrstown Financial Services in the 4th quarter valued at approximately $143,000. 44.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, DA Davidson began coverage on Orrstown Financial Services in a research note on Friday, May 15th. They set a “neutral” rating and a $41.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.67.

Orrstown Financial Services Price Performance

Shares of NASDAQ ORRF opened at $39.64 on Thursday. The company has a fifty day moving average price of $38.13 and a 200 day moving average price of $37.07. The firm has a market cap of $778.93 million, a PE ratio of 9.07 and a beta of 0.70. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.06. Orrstown Financial Services Inc has a 1-year low of $31.51 and a 1-year high of $42.42.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings results on Wednesday, April 22nd. The bank reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.08. The firm had revenue of $64.58 million for the quarter, compared to the consensus estimate of $63.20 million. Orrstown Financial Services had a return on equity of 14.75% and a net margin of 23.58%. Research analysts predict that Orrstown Financial Services Inc will post 4.3 earnings per share for the current fiscal 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 dividend yield of 3.0%. Orrstown Financial Services’s dividend payout ratio (DPR) is presently 27.46%.

Orrstown Financial Services 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.