AlphaQuest LLC Increases Stock Holdings in Orrstown Financial Services Inc $ORRF

AlphaQuest LLC lifted its stake in Orrstown Financial Services Inc (NASDAQ:ORRF) by 313.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,497 shares of the bank’s stock after purchasing an additional 12,510 shares during the quarter. AlphaQuest LLC owned about 0.08% of Orrstown Financial Services worth $525,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. lifted its stake in shares of Orrstown Financial Services by 3.2% during the 1st quarter. Principal Financial Group Inc. now owns 14,997 shares of the bank’s stock worth $450,000 after acquiring an additional 462 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Orrstown Financial Services during the 1st quarter worth approximately $633,000. Brookwood Investment Group LLC bought a new stake in shares of Orrstown Financial Services during the 1st quarter worth approximately $588,000. Cetera Investment Advisers lifted its stake in shares of Orrstown Financial Services by 5.0% during the 1st quarter. Cetera Investment Advisers now owns 43,829 shares of the bank’s stock worth $1,315,000 after acquiring an additional 2,075 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Orrstown Financial Services by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 1,049,610 shares of the bank’s stock worth $31,499,000 after acquiring an additional 6,744 shares during the last quarter. Hedge funds and other institutional investors own 44.27% of the company’s stock.

Orrstown Financial Services Trading Down 0.4%

ORRF opened at $34.04 on Wednesday. The firm has a market cap of $663.44 million, a price-to-earnings ratio of 9.01 and a beta of 0.83. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.13. Orrstown Financial Services Inc has a 12 month low of $25.57 and a 12 month high of $41.99. The stock has a fifty day moving average price of $34.28 and a 200-day moving average price of $32.28.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings results on Tuesday, November 8th. The bank reported $0.65 EPS for the quarter. Orrstown Financial Services had a return on equity of 14.66% and a net margin of 20.48%.The firm had revenue of $28.27 million during the quarter. As a group, equities research analysts anticipate that Orrstown Financial Services Inc will post 4.23 earnings per share for the current fiscal year.

Orrstown Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 12th. Shareholders of record on Wednesday, November 5th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.2%. The ex-dividend date is Wednesday, November 5th. Orrstown Financial Services’s payout ratio is presently 28.57%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ORRF shares. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $42.00 price target (up from $39.00) on shares of Orrstown Financial Services in a research note on Thursday, July 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Orrstown Financial Services in a research report on Wednesday, October 8th. Zacks Research lowered Orrstown Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. Finally, Wall Street Zen lowered Orrstown Financial Services from a “buy” rating to a “hold” rating in a research report on Saturday, August 16th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Orrstown Financial Services presently has an average rating of “Moderate Buy” and a consensus price target of $39.25.

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.