Orrstown Financial Services Inc (NASDAQ:ORRF) Receives $39.67 Average PT from Analysts

Shares of Orrstown Financial Services Inc (NASDAQ:ORRF) have earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $39.6667.

Several brokerages have issued reports on ORRF. Weiss Ratings raised Orrstown Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Hovde Group lifted their price objective on shares of Orrstown Financial Services from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd.

Institutional Trading of Orrstown Financial Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ORRF. Assenagon Asset Management S.A. acquired a new stake in Orrstown Financial Services in the third quarter valued at approximately $6,628,000. American Century Companies Inc. lifted its holdings in shares of Orrstown Financial Services by 13.1% in the 2nd quarter. American Century Companies Inc. now owns 255,717 shares of the bank’s stock worth $8,139,000 after purchasing an additional 29,714 shares in the last quarter. Rosenthal Henry Capital Advisors Inc. acquired a new stake in Orrstown Financial Services in the 3rd quarter valued at $1,668,000. Geode Capital Management LLC increased its stake in Orrstown Financial Services by 5.0% during the 2nd quarter. Geode Capital Management LLC now owns 466,343 shares of the bank’s stock valued at $14,846,000 after purchasing an additional 22,191 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Orrstown Financial Services during the third quarter worth $594,000. 44.27% of the stock is owned by institutional investors.

Orrstown Financial Services Stock Performance

Shares of ORRF opened at $36.44 on Friday. 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 stock has a market capitalization of $710.58 million, a P/E ratio of 8.72 and a beta of 0.82. The firm’s fifty day simple moving average is $36.69 and its two-hundred day simple moving average is $35.46. Orrstown Financial Services has a 12 month low of $25.57 and a 12 month high of $40.72.

Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings data on Tuesday, January 27th. The bank reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.03. The firm had revenue of $64.92 million during the quarter, compared to analyst estimates of $51.54 million. Orrstown Financial Services had a return on equity of 15.04% and a net margin of 22.71%. As a group, analysts predict that Orrstown Financial Services will post 4.23 EPS for the current year.

Orrstown Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Tuesday, February 10th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.3%. This is an increase from Orrstown Financial Services’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Tuesday, February 10th. Orrstown Financial Services’s payout ratio is presently 28.71%.

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.