Orrstown Financial Services Inc (NASDAQ:ORRF) Receives Average Recommendation of “Moderate Buy” from Brokerages

Orrstown Financial Services Inc (NASDAQ:ORRF) has received an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $41.6667.

ORRF has been the topic of several recent analyst reports. Weiss Ratings raised shares of Orrstown Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. DA Davidson initiated coverage on shares of Orrstown Financial Services in a research note on Friday, May 15th. They issued a “neutral” rating and a $41.00 target price on the stock.

Orrstown Financial Services Trading Up 2.0%

Shares of ORRF opened at $39.94 on Tuesday. Orrstown Financial Services has a twelve month low of $29.39 and a twelve month high of $40.72. The company has a market cap of $784.82 million, a P/E ratio of 9.14 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. The company’s fifty day simple moving average is $37.23 and its 200-day simple moving average is $36.67.

Orrstown Financial Services (NASDAQ:ORRF) last announced its earnings results on Wednesday, April 22nd. The bank reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.08. Orrstown Financial Services had a net margin of 23.58% and a return on equity of 14.75%. The business had revenue of $64.58 million for the quarter, compared to the consensus estimate of $63.20 million. As a group, analysts expect that Orrstown Financial Services will post 4.3 EPS for the current year.

Orrstown Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Tuesday, May 5th were issued a $0.30 dividend. 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 is presently 27.46%.

Insider Activity at Orrstown Financial Services

In related news, Director Brian D. Brunner purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, March 18th. The shares were purchased at an average cost of $34.02 per share, for a total transaction of $34,020.00. Following the completion of the acquisition, the director owned 50,529 shares in the company, valued at approximately $1,718,996.58. This trade represents a 2.02% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE grew its holdings in shares of Orrstown Financial Services by 24.2% in the first quarter. Bank of America Corp DE now owns 139,990 shares of the bank’s stock worth $5,051,000 after purchasing an additional 27,301 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Orrstown Financial Services by 33.2% in the first quarter. Royal Bank of Canada now owns 6,612 shares of the bank’s stock worth $239,000 after purchasing an additional 1,649 shares during the last quarter. Quantinno Capital Management LP grew its holdings in shares of Orrstown Financial Services by 75.9% in the first quarter. Quantinno Capital Management LP now owns 27,365 shares of the bank’s stock worth $987,000 after purchasing an additional 11,808 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Orrstown Financial Services in the first quarter worth about $342,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Orrstown Financial Services by 62.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 13,143 shares of the bank’s stock worth $474,000 after purchasing an additional 5,041 shares during the last quarter. 44.27% of the stock is currently owned by institutional investors.

Orrstown Financial Services Company 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.