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

Orrstown Financial Services Inc (NASDAQ:ORRF) has received an average rating of “Moderate Buy” from the five research firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $41.6667.

Separately, DA Davidson started coverage on shares of Orrstown Financial Services in a research report on Friday, May 15th. They issued a “neutral” rating and a $41.00 price target for the company.

Institutional Trading of Orrstown Financial Services

Hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE boosted its position in Orrstown Financial Services by 24.2% during the 1st quarter. Bank of America Corp DE now owns 139,990 shares of the bank’s stock valued at $5,051,000 after acquiring an additional 27,301 shares in the last quarter. Royal Bank of Canada raised its position in shares of Orrstown Financial Services by 33.2% in the 1st quarter. Royal Bank of Canada now owns 6,612 shares of the bank’s stock worth $239,000 after acquiring an additional 1,649 shares in the last quarter. Quantinno Capital Management LP raised its position in shares of Orrstown Financial Services by 75.9% in the 1st quarter. Quantinno Capital Management LP now owns 27,365 shares of the bank’s stock worth $987,000 after acquiring an additional 11,808 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of Orrstown Financial Services during the 1st quarter worth $342,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Orrstown Financial Services by 62.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 13,143 shares of the bank’s stock worth $474,000 after purchasing an additional 5,041 shares during the last quarter. Hedge funds and other institutional investors own 44.27% of the company’s stock.

Orrstown Financial Services Stock Performance

ORRF stock opened at $40.85 on Friday. Orrstown Financial Services has a 1-year low of $31.51 and a 1-year high of $42.00. The business has a 50-day moving average price of $37.92 and a 200 day moving average price of $37.02. The company has a market capitalization of $802.62 million, a P/E ratio of 9.35 and a beta of 0.70. 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 (NASDAQ:ORRF) last issued its earnings results on Wednesday, April 22nd. The bank reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.08. The company had revenue of $64.58 million for the quarter, compared to analysts’ expectations of $63.20 million. Orrstown Financial Services had a net margin of 23.58% and a return on equity of 14.75%. As a group, equities research analysts forecast that Orrstown Financial Services will post 4.3 EPS for the current fiscal year.

Orrstown Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Investors of record on Tuesday, May 5th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, May 5th. Orrstown Financial Services’s dividend payout ratio (DPR) is presently 27.46%.

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.