Orrstown Financial Services Inc (NASDAQ:ORRF) Receives $38.00 Average PT from Analysts

Shares of Orrstown Financial Services Inc (NASDAQ:ORRF) have been given a consensus rating of “Moderate Buy” by the five research firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $38.00.

A number of equities analysts recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Orrstown Financial Services in a report on Wednesday, October 8th. Zacks Research cut shares of Orrstown Financial Services from a “strong-buy” rating to a “hold” rating in a report on Friday, October 3rd.

Orrstown Financial Services Stock Performance

Shares of ORRF stock opened at $37.06 on Friday. The company has a market cap of $722.67 million, a P/E ratio of 9.80 and a beta of 0.82. The firm has a fifty day moving average price of $35.88 and a 200 day moving average price of $34.55. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.06. Orrstown Financial Services has a 12 month low of $25.57 and a 12 month high of $38.38.

Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings results on Wednesday, October 22nd. The bank reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.07. The company had revenue of $64.37 million for the quarter, compared to analysts’ expectations of $51.13 million. Orrstown Financial Services had a return on equity of 14.39% and a net margin of 20.48%.During the same period last year, the firm earned $1.11 earnings per share. Sell-side analysts predict that Orrstown Financial Services will post 4.23 earnings per share for the current fiscal year.

Orrstown Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 12th. Investors of record on Wednesday, November 5th were given 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 yield of 2.9%. Orrstown Financial Services’s payout ratio is 28.57%.

Hedge Funds Weigh In On Orrstown Financial Services

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Orrstown Financial Services by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,115,128 shares of the bank’s stock valued at $37,892,000 after purchasing an additional 27,125 shares during the last quarter. Dimensional Fund Advisors LP increased 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 worth $26,006,000 after buying an additional 72,373 shares during the period. Wellington Management Group LLP lifted its stake in Orrstown Financial Services by 9.2% in the third quarter. Wellington Management Group LLP now owns 608,402 shares of the bank’s stock valued at $20,674,000 after buying an additional 51,140 shares during the last quarter. Geode Capital Management LLC lifted its stake in Orrstown Financial Services by 5.0% in the second quarter. Geode Capital Management LLC now owns 466,343 shares of the bank’s stock valued at $14,846,000 after buying an additional 22,191 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Orrstown Financial Services by 123.8% in the first quarter. Millennium Management LLC now owns 330,322 shares of the bank’s stock valued at $9,913,000 after acquiring an additional 182,709 shares during the period. Hedge funds and other institutional investors own 44.27% of the company’s stock.

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.