ProShare Advisors LLC Has $6.34 Million Position in Orrstown Financial Services Inc $ORRF

ProShare Advisors LLC decreased its position in shares of Orrstown Financial Services Inc (NASDAQ:ORRF) by 11.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 199,268 shares of the bank’s stock after selling 26,889 shares during the quarter. ProShare Advisors LLC owned approximately 1.02% of Orrstown Financial Services worth $6,343,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ORRF. Millennium Management LLC raised its position in shares of Orrstown Financial Services by 123.8% during the first quarter. Millennium Management LLC now owns 330,322 shares of the bank’s stock worth $9,913,000 after acquiring an additional 182,709 shares during the last quarter. Jane Street Group LLC bought a new stake in Orrstown Financial Services during the 1st quarter worth about $1,080,000. Nuveen LLC acquired a new position in Orrstown Financial Services during the 1st quarter valued at about $1,058,000. Cubist Systematic Strategies LLC boosted its stake in shares of Orrstown Financial Services by 82.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 54,019 shares of the bank’s stock valued at $1,621,000 after purchasing an additional 24,478 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Orrstown Financial Services in the 1st quarter valued at about $633,000. 44.27% of the stock is currently owned by institutional investors.

Orrstown Financial Services Stock Performance

Shares of Orrstown Financial Services stock opened at $34.33 on Friday. The stock’s fifty day simple moving average is $34.10 and its 200 day simple moving average is $32.78. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $669.44 million, a PE ratio of 9.08 and a beta of 0.87. Orrstown Financial Services Inc has a 12 month low of $25.57 and a 12 month high of $41.50.

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 14.39% and a net margin of 20.48%.The company had revenue of $28.27 million for the quarter. On average, research analysts predict that Orrstown Financial Services Inc will post 4.23 EPS for the current year.

Orrstown Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 12th. Stockholders of record on Wednesday, November 5th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Wednesday, November 5th. Orrstown Financial Services’s dividend payout ratio is 28.57%.

Analysts Set New Price Targets

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

About Orrstown Financial Services

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.