Orrstown Financial Services Inc (NASDAQ:ORRF) Receives $39.25 Consensus Price Target from Brokerages

Orrstown Financial Services Inc (NASDAQ:ORRF) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $39.25.

ORRF has been the topic of several research reports. Wall Street Zen cut Orrstown Financial Services from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. Zacks Research lowered Orrstown Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Orrstown Financial Services in a research note on Wednesday, October 8th.

Hedge Funds Weigh In On Orrstown Financial Services

Several institutional investors have recently bought and sold shares of ORRF. Kennedy Capital Management LLC increased its holdings in shares of Orrstown Financial Services by 569.5% in the 3rd quarter. Kennedy Capital Management LLC now owns 280,723 shares of the bank’s stock worth $9,539,000 after buying an additional 238,790 shares during the last quarter. Marshall Wace LLP purchased a new position in Orrstown Financial Services in the second quarter worth about $7,424,000. Assenagon Asset Management S.A. purchased a new position in Orrstown Financial Services in the third quarter worth about $6,628,000. Millennium Management LLC increased its stake in 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. Finally, Dimensional Fund Advisors LP raised its position in Orrstown Financial Services by 10.4% during the third quarter. Dimensional Fund Advisors LP now owns 765,332 shares of the bank’s stock valued at $26,006,000 after purchasing an additional 72,373 shares during the period. Institutional investors own 44.27% of the company’s stock.

Orrstown Financial Services Trading Down 0.6%

Orrstown Financial Services stock opened at $35.89 on Thursday. Orrstown Financial Services has a 1 year low of $25.57 and a 1 year high of $40.55. The firm’s 50 day moving average price is $34.03 and its 200-day moving average price is $33.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market cap of $699.86 million, a P/E ratio of 9.49 and a beta of 0.87.

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

Orrstown Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 12th. Investors of record on Wednesday, November 5th were issued a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, November 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.0%. Orrstown Financial Services’s dividend payout ratio (DPR) is 28.57%.

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.