Orrstown Financial Services Inc (NASDAQ:ORRF) Receives Consensus Rating of “Moderate Buy” from Analysts

Orrstown Financial Services Inc (NASDAQ:ORRF) has received a consensus recommendation of “Moderate Buy” from the six research firms that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $44.3333.

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

Orrstown Financial Services Stock Performance

Shares of ORRF opened at $43.63 on Wednesday. The firm has a market cap of $857.24 million, a PE ratio of 9.80 and a beta of 0.70. The stock’s fifty day moving average price is $39.55 and its two-hundred day moving average price is $37.63. 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 1 year low of $31.51 and a 1 year high of $43.78.

Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings results on Tuesday, July 21st. The bank reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.06. Orrstown Financial Services had a return on equity of 14.66% and a net margin of 24.00%.The company had revenue of $64.30 million during the quarter, compared to the consensus estimate of $64.10 million. On average, equities research analysts forecast that Orrstown Financial Services will post 4.41 EPS for the current year.

Orrstown Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, August 4th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $1.20 dividend on an annualized basis and a yield of 2.8%. Orrstown Financial Services’s payout ratio is presently 26.97%.

Insider Activity

In other Orrstown Financial Services news, EVP Amy Doll sold 3,002 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $41.61, for a total transaction of $124,913.22. Following the sale, the executive vice president owned 25,669 shares in the company, valued at $1,068,087.09. This represents a 10.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Orrstown Financial Services

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP purchased a new stake in Orrstown Financial Services during the 3rd quarter worth about $42,000. Raymond James Financial Inc. bought a new stake in shares of Orrstown Financial Services during the second quarter valued at about $45,000. Tower Research Capital LLC TRC lifted its holdings in shares of Orrstown Financial Services by 86.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,748 shares of the bank’s stock worth $56,000 after buying an additional 810 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Orrstown Financial Services by 220.4% in the third quarter. Russell Investments Group Ltd. now owns 2,070 shares of the bank’s stock worth $70,000 after buying an additional 1,424 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Orrstown Financial Services by 120.7% in the third quarter. BNP Paribas Financial Markets now owns 4,061 shares of the bank’s stock valued at $138,000 after acquiring an additional 2,221 shares during the period. 44.27% of the stock is currently owned by institutional investors.

About Orrstown Financial Services

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.