Intech Investment Management LLC Has $260,000 Position in Orrstown Financial Services Inc $ORRF

Intech Investment Management LLC lowered its stake in shares of Orrstown Financial Services Inc (NASDAQ:ORRF) by 42.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,158 shares of the bank’s stock after selling 5,909 shares during the quarter. Intech Investment Management LLC’s holdings in Orrstown Financial Services were worth $260,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. CWM LLC boosted its holdings in shares of Orrstown Financial Services by 36.9% during the 2nd quarter. CWM LLC now owns 2,417 shares of the bank’s stock worth $77,000 after buying an additional 651 shares during the period. PNC Financial Services Group Inc. raised its holdings in Orrstown Financial Services by 370.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,528 shares of the bank’s stock worth $144,000 after acquiring an additional 3,566 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in Orrstown Financial Services by 7.4% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 7,302 shares of the bank’s stock worth $232,000 after acquiring an additional 500 shares during the last quarter. Trexquant Investment LP bought a new stake in Orrstown Financial Services during the first quarter valued at about $243,000. Finally, Entropy Technologies LP bought a new stake in Orrstown Financial Services during the first quarter valued at about $270,000. Institutional investors own 44.27% of the company’s stock.

Analyst Ratings Changes

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

Orrstown Financial Services Stock Up 1.5%

ORRF stock opened at $36.29 on Tuesday. Orrstown Financial Services Inc has a twelve month low of $25.57 and a twelve month high of $40.55. 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 market cap of $707.66 million, a PE ratio of 9.60 and a beta of 0.82. The business’s 50-day simple moving average is $34.06 and its 200 day simple moving average is $33.21.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings data on Tuesday, November 8th. The bank reported $0.65 EPS for the quarter. The company had revenue of $28.27 million during the quarter. Orrstown Financial Services had a return on equity of 14.39% and a net margin of 20.48%. On average, research analysts anticipate that Orrstown Financial Services Inc will post 4.23 earnings per share for the current year.

Orrstown Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 12th. Shareholders of record on Wednesday, November 5th were paid a dividend of $0.27 per share. The ex-dividend date was Wednesday, November 5th. This represents a $1.08 dividend on an annualized basis and a yield of 3.0%. Orrstown Financial Services’s payout ratio is currently 28.57%.

Orrstown Financial Services 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.