Zacks: Orrstown Financial Services Inc (ORRF) Receives Consensus Recommendation of “Hold” from Analysts
Orrstown Financial Services Inc (NASDAQ:ORRF) has received a consensus broker rating score of 2.50 (Hold) from the two analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has assigned a buy recommendation to the company.
Zacks has also given Orrstown Financial Services an industry rank of 162 out of 265 based on the ratings given to its competitors.
Several analysts recently commented on the stock. Zacks Investment Research upgraded shares of Orrstown Financial Services from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Saturday, July 29th. Boenning Scattergood restated a “hold” rating on shares of Orrstown Financial Services in a research report on Friday, October 27th. Finally, Keefe, Bruyette & Woods upgraded shares of Orrstown Financial Services from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $24.00 to $28.00 in a research report on Thursday, July 27th.
Orrstown Financial Services (ORRF) traded down $0.20 during trading hours on Monday, reaching $25.05. The company’s stock had a trading volume of 4,984 shares, compared to its average volume of 13,680. The company has a market capitalization of $208.99, a price-to-earnings ratio of 20.70 and a beta of 0.68. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.17. Orrstown Financial Services has a 12-month low of $18.05 and a 12-month high of $26.95.
Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings results on Wednesday, October 25th. The bank reported $0.34 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.34. The company had revenue of $16.34 million for the quarter, compared to analyst estimates of $16.25 million. Orrstown Financial Services had a net margin of 14.58% and a return on equity of 7.23%. equities research analysts forecast that Orrstown Financial Services will post 1.37 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, November 6th will be given a $0.12 dividend. This is a positive change from Orrstown Financial Services’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.48 annualized dividend and a dividend yield of 1.92%. Orrstown Financial Services’s dividend payout ratio (DPR) is 39.34%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wedge Capital Management L L P NC acquired a new stake in shares of Orrstown Financial Services in the third quarter valued at about $344,000. The Manufacturers Life Insurance Company boosted its position in Orrstown Financial Services by 4.7% during the second quarter. The Manufacturers Life Insurance Company now owns 5,281 shares of the bank’s stock worth $120,000 after acquiring an additional 235 shares during the last quarter. State Street Corp boosted its position in Orrstown Financial Services by 7.0% during the second quarter. State Street Corp now owns 102,012 shares of the bank’s stock worth $2,330,000 after acquiring an additional 6,696 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Orrstown Financial Services by 11.8% during the second quarter. Dimensional Fund Advisors LP now owns 20,696 shares of the bank’s stock worth $473,000 after acquiring an additional 2,188 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Orrstown Financial Services by 1.8% during the second quarter. Northern Trust Corp now owns 77,865 shares of the bank’s stock worth $1,779,000 after acquiring an additional 1,400 shares during the last quarter. Institutional investors and hedge funds own 38.17% of the company’s stock.
About Orrstown Financial Services
Orrstown Financial Services, Inc is the bank holding company for Orrstown Bank (the Bank). The Bank is engaged in commercial banking and trust business. The Company operates through Community Banking segment. The Bank’s activities involve accepting demand, time and savings deposits, and granting loans.
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