Orrstown Financial Services Inc (NASDAQ:ORRF) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Orrstown Financial Services Inc (NASDAQ:ORRF) have been given a consensus rating of “Moderate Buy” by the six ratings firms that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $44.3333.

A number of research analysts have recently commented on the company. DA Davidson reiterated a “neutral” rating and set a $41.00 price target on shares of Orrstown Financial Services in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods raised their price objective on shares of Orrstown Financial Services from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Hovde Group boosted their target price on shares of Orrstown Financial Services from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Raymond James Financial assumed coverage on shares of Orrstown Financial Services in a research note on Thursday, July 9th. They set a “market perform” rating for the company. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Orrstown Financial Services in a report on Tuesday, July 7th.

Insider Buying and Selling at Orrstown Financial Services

In related news, EVP Amy Doll sold 3,002 shares of the stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $41.61, for a total value of $124,913.22. Following the completion of the sale, the executive vice president owned 25,669 shares in the company, valued at approximately $1,068,087.09. This trade represents a 10.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Orrstown Financial Services

Several large investors have recently added to or reduced their stakes in the company. Empowered Funds LLC acquired a new stake in shares of Orrstown Financial Services during the 2nd quarter worth approximately $1,810,000. Bank of America Corp DE acquired a new position in shares of Orrstown Financial Services in the second quarter valued at $4,735,000. Man Group plc acquired a new position in shares of Orrstown Financial Services in the second quarter valued at $5,962,000. Jupiter Topco LLC bought a new position in Orrstown Financial Services in the second quarter worth $458,000. Finally, Hsbc Holdings PLC bought a new position in Orrstown Financial Services in the second quarter worth $459,000. Institutional investors and hedge funds own 44.27% of the company’s stock.

Orrstown Financial Services Trading Down 0.2%

Orrstown Financial Services stock opened at $42.02 on Friday. Orrstown Financial Services has a 52 week low of $31.87 and a 52 week high of $43.81. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market capitalization of $826.53 million, a PE ratio of 9.44 and a beta of 0.69. The business’s 50-day simple moving average is $41.49 and its 200-day simple moving average is $38.46.

Orrstown Financial Services (NASDAQ:ORRF) last announced its earnings results on Wednesday, July 22nd. The bank reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.06. The firm had revenue of $62.67 million during the quarter, compared to the consensus estimate of $64.10 million. Orrstown Financial Services had a return on equity of 14.46% and a net margin of 24.00%. Equities research analysts forecast that Orrstown Financial Services will post 4.41 earnings per share for the current year.

Orrstown Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, August 4th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.9%. Orrstown Financial Services’s dividend payout ratio is currently 26.97%.

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.