Orrstown Financial Services Inc (NASDAQ:ORRF) Given Average Rating of “Moderate Buy” by Analysts

Orrstown Financial Services Inc (NASDAQ:ORRF) has been assigned a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $39.6667.

ORRF has been the subject of a number of research reports. Hovde Group increased their price objective on Orrstown Financial Services from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Weiss Ratings upgraded shares of Orrstown Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd.

Insider Buying and Selling

In other Orrstown Financial Services news, Director Brian D. Brunner acquired 1,000 shares of the business’s stock in a transaction on Wednesday, March 18th. The shares were acquired at an average price of $34.02 per share, for a total transaction of $34,020.00. Following the completion of the acquisition, the director owned 50,529 shares in the company, valued at $1,718,996.58. This trade represents a 2.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Orrstown Financial Services

Large investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Orrstown Financial Services by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,009 shares of the bank’s stock worth $330,000 after purchasing an additional 490 shares in the last quarter. Millennium Management LLC increased its position in Orrstown Financial Services by 123.8% during the 1st quarter. Millennium Management LLC now owns 330,322 shares of the bank’s stock valued at $9,913,000 after buying an additional 182,709 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Orrstown Financial Services by 2.9% during the first quarter. Goldman Sachs Group Inc. now owns 85,047 shares of the bank’s stock valued at $2,552,000 after buying an additional 2,417 shares during the last quarter. Jane Street Group LLC purchased a new position in Orrstown Financial Services during the first quarter valued at $1,080,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Orrstown Financial Services by 370.7% in the second quarter. PNC Financial Services Group Inc. now owns 4,528 shares of the bank’s stock worth $144,000 after acquiring an additional 3,566 shares in the last quarter. 44.27% of the stock is currently owned by hedge funds and other institutional investors.

Orrstown Financial Services Stock Performance

Orrstown Financial Services stock opened at $35.38 on Wednesday. Orrstown Financial Services has a fifty-two week low of $25.57 and a fifty-two week high of $40.72. The stock’s 50 day simple moving average is $36.45 and its two-hundred day simple moving average is $35.51. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.87. The stock has a market cap of $694.16 million, a price-to-earnings ratio of 8.46 and a beta of 0.82.

Orrstown Financial Services (NASDAQ:ORRF) last released its earnings results on Wednesday, January 28th. The bank reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. Orrstown Financial Services had a return on equity of 14.77% and a net margin of 22.71%.The company had revenue of $73.89 million during the quarter, compared to analysts’ expectations of $51.54 million. As a group, analysts expect that Orrstown Financial Services will post 4.23 earnings per share for the current fiscal year.

Orrstown Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Tuesday, February 10th were given a dividend of $0.30 per share. 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. This represents a $1.20 dividend on an annualized basis and a yield of 3.4%. Orrstown Financial Services’s dividend payout ratio is 28.71%.

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.