Orrstown Financial Services Inc (NASDAQ:ORRF) Receives $38.00 Average Target Price from Brokerages

Shares of Orrstown Financial Services Inc (NASDAQ:ORRF) have been assigned a consensus rating of “Moderate Buy” from the five research firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $38.00.

A number of analysts have recently issued reports on ORRF shares. Zacks Research lowered Orrstown Financial Services from a “strong-buy” rating to a “hold” rating in a report on Friday, October 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Orrstown Financial Services in a research report on Wednesday, October 8th.

Institutional Trading of Orrstown Financial Services

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Orrstown Financial Services by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,115,128 shares of the bank’s stock valued at $37,892,000 after buying an additional 27,125 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Orrstown Financial Services by 10.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 765,332 shares of the bank’s stock valued at $26,006,000 after acquiring an additional 72,373 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Orrstown Financial Services by 9.2% in the third quarter. Wellington Management Group LLP now owns 608,402 shares of the bank’s stock worth $20,674,000 after acquiring an additional 51,140 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Orrstown Financial Services by 5.0% during the second quarter. Geode Capital Management LLC now owns 466,343 shares of the bank’s stock worth $14,846,000 after acquiring an additional 22,191 shares in the last quarter. Finally, Millennium Management LLC raised its holdings 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 in the last quarter. 44.27% of the stock is currently owned by institutional investors and hedge funds.

Orrstown Financial Services Stock Performance

Shares of ORRF opened at $35.79 on Friday. The company has a 50-day moving average of $35.68 and a two-hundred day moving average of $34.47. The stock has a market cap of $697.91 million, a price-to-earnings ratio of 9.47 and a beta of 0.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.87 and a quick ratio of 0.87. Orrstown Financial Services has a one year low of $25.57 and a one year high of $38.38.

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

Orrstown Financial Services Announces Dividend

The firm also recently announced 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. This represents a $1.08 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Wednesday, November 5th. Orrstown Financial Services’s payout ratio is 28.57%.

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.