Orrstown Financial Services Inc (NASDAQ:ORRF) Receives Consensus Rating of “Moderate Buy” from Analysts

Orrstown Financial Services Inc (NASDAQ:ORRF) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $44.3333.

A number of equities analysts have issued reports on the company. DA Davidson reaffirmed a “neutral” rating and issued a $41.00 target price on shares of Orrstown Financial Services in a research report on Wednesday, July 22nd. Hovde Group raised their price target on shares of Orrstown Financial Services from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods lifted their price target on shares of Orrstown Financial Services from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Raymond James Financial assumed coverage on shares of Orrstown Financial Services in a report on Thursday, July 9th. They issued a “market perform” rating on the stock. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Orrstown Financial Services in a research note on Tuesday, July 7th.

Insider Activity at Orrstown Financial Services

In related news, EVP Amy Doll sold 3,002 shares of Orrstown Financial Services stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $41.61, for a total value of $124,913.22. Following the completion of the transaction, the executive vice president directly owned 25,669 shares in the company, valued at approximately $1,068,087.09. This trade represents a 10.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Orrstown Financial Services

Institutional investors and hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. acquired a new position in Orrstown Financial Services in the first quarter worth $10,743,000. Kennedy Capital Management LLC raised its holdings in shares of Orrstown Financial Services by 569.5% during the third quarter. Kennedy Capital Management LLC now owns 280,723 shares of the bank’s stock worth $9,539,000 after purchasing an additional 238,790 shares during the period. Marshall Wace LLP bought a new position in shares of Orrstown Financial Services in the 2nd quarter worth about $7,424,000. Millennium Management LLC boosted its holdings in shares of Orrstown Financial Services by 123.8% in 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 during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Orrstown Financial Services by 170.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 278,649 shares of the bank’s stock valued at $9,870,000 after buying an additional 175,682 shares during the period. 44.27% of the stock is owned by institutional investors and hedge funds.

Orrstown Financial Services Trading Down 0.8%

ORRF stock opened at $43.36 on Wednesday. The company has a market cap of $852.02 million, a price-to-earnings ratio of 9.74 and a beta of 0.69. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $40.19 and a 200-day simple moving average of $37.89. Orrstown Financial Services has a 52 week low of $31.51 and a 52 week high of $43.81.

Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings results on Tuesday, July 21st. The bank reported $1.09 EPS for the quarter, beating the consensus estimate of $1.03 by $0.06. Orrstown Financial Services had a net margin of 24.00% and a return on equity of 14.66%. The firm had revenue of $64.30 million for the quarter, compared to analyst estimates of $64.10 million. On average, equities research analysts expect that Orrstown Financial Services will post 4.41 EPS for the current year.

Orrstown Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, August 4th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Tuesday, August 4th. Orrstown Financial Services’s dividend payout ratio is 26.97%.

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.