Orrstown Financial Services (NASDAQ:ORRF) Price Target Raised to $42.00

Orrstown Financial Services (NASDAQ:ORRF) had its price target upped by Hovde Group from $40.00 to $42.00 in a report issued on Monday, Marketbeat reports. Hovde Group currently has an outperform rating on the bank’s stock.

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Orrstown Financial Services in a research report on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.67.

Orrstown Financial Services Trading Up 2.2%

ORRF opened at $38.92 on Monday. Orrstown Financial Services has a one year low of $25.57 and a one year high of $39.16. The company has a market cap of $758.94 million, a P/E ratio of 9.31 and a beta of 0.83. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.87 and a current ratio of 0.87. The business’s 50-day simple moving average is $36.50 and its 200-day simple moving average is $34.89.

Orrstown Financial Services (NASDAQ:ORRF) last posted its earnings results 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 analysts’ expectations 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, equities research analysts expect that Orrstown Financial Services will post 4.23 EPS for the current fiscal year.

Orrstown Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Tuesday, February 10th will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, February 10th. This represents a $1.20 dividend on an annualized basis and a yield of 3.1%. This is an increase from Orrstown Financial Services’s previous quarterly dividend of $0.27. Orrstown Financial Services’s dividend payout ratio (DPR) is currently 25.84%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ORRF. UBS Group AG boosted its stake in shares of Orrstown Financial Services by 99.3% during the fourth quarter. UBS Group AG now owns 102,329 shares of the bank’s stock worth $3,624,000 after buying an additional 50,979 shares during the period. Daytona Street Capital LLC purchased a new stake in Orrstown Financial Services during the 4th quarter valued at approximately $376,000. apricus wealth LLC purchased a new stake in Orrstown Financial Services during the 4th quarter valued at approximately $226,000. SG Americas Securities LLC lifted its position in Orrstown Financial Services by 5.3% during the 4th quarter. SG Americas Securities LLC now owns 8,797 shares of the bank’s stock worth $312,000 after acquiring an additional 440 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Orrstown Financial Services by 5.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 62,233 shares of the bank’s stock valued at $2,115,000 after purchasing an additional 3,302 shares during the last quarter. 44.27% of the stock is currently owned by institutional investors and hedge funds.

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.