Y Intercept Hong Kong Ltd Acquires New Holdings in Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Y Intercept Hong Kong Ltd bought a new position in Orrstown Financial Services, Inc. (NASDAQ:ORRF) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,319 shares of the bank’s stock, valued at approximately $227,000.

Several other hedge funds have also modified their holdings of ORRF. CWM LLC raised its stake in shares of Orrstown Financial Services by 227.9% during the 2nd quarter. CWM LLC now owns 1,692 shares of the bank’s stock worth $46,000 after acquiring an additional 1,176 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Orrstown Financial Services during the second quarter worth $154,000. Bank of New York Mellon Corp increased its position in shares of Orrstown Financial Services by 9.1% during the second quarter. Bank of New York Mellon Corp now owns 74,528 shares of the bank’s stock worth $2,039,000 after purchasing an additional 6,200 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Orrstown Financial Services by 32.9% during the 2nd quarter. Rhumbline Advisers now owns 21,942 shares of the bank’s stock valued at $600,000 after purchasing an additional 5,427 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Orrstown Financial Services by 37.9% in the 2nd quarter. American Century Companies Inc. now owns 149,259 shares of the bank’s stock worth $4,084,000 after purchasing an additional 41,016 shares in the last quarter. 44.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Orrstown Financial Services news, EVP David Todd Hornberger sold 4,000 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $37.82, for a total transaction of $151,280.00. Following the sale, the executive vice president now directly owns 20,877 shares of the company’s stock, valued at approximately $789,568.14. This trade represents a 16.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.30% of the company’s stock.

Orrstown Financial Services Trading Down 4.7 %

Shares of Orrstown Financial Services stock opened at $36.62 on Thursday. The firm’s 50 day simple moving average is $38.67 and its two-hundred day simple moving average is $34.07. The firm has a market capitalization of $710.06 million, a price-to-earnings ratio of 19.69 and a beta of 0.90. Orrstown Financial Services, Inc. has a 12-month low of $24.70 and a 12-month high of $41.99. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13.

Orrstown Financial Services (NASDAQ:ORRF) last released its earnings results on Tuesday, October 22nd. The bank reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.19. Orrstown Financial Services had a return on equity of 14.41% and a net margin of 6.63%. The firm had revenue of $95.37 million for the quarter, compared to the consensus estimate of $60.90 million. Analysts predict that Orrstown Financial Services, Inc. will post 4 EPS for the current year.

Orrstown Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Tuesday, November 5th. Orrstown Financial Services’s payout ratio is 49.46%.

Wall Street Analyst Weigh In

Separately, Hovde Group lowered Orrstown Financial Services from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 13th.

Orrstown Financial Services Company Profile

Orrstown Financial Services, Inc operates as the financial holding company for Orrstown Bank that provides commercial banking and financial advisory services to retail, commercial, non-profit, and government clients in the United States. It accepts various deposits, including checking, savings, time, demand, and money market deposits, as well as certificates of deposit.