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

Orrstown Financial Services Inc (NASDAQ:ORRF) has received a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $39.6667.

A number of brokerages have recently commented on ORRF. Weiss Ratings reiterated a “hold (c+)” rating on shares of Orrstown Financial Services in a report on Thursday, January 22nd. Hovde Group lifted their price objective on shares of Orrstown Financial Services from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd.

Orrstown Financial Services Stock Performance

Orrstown Financial Services stock opened at $39.29 on Tuesday. The company’s 50-day moving average price is $36.70 and its 200-day moving average price is $34.99. 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 company has a market cap of $766.16 million, a PE ratio of 9.40 and a beta of 0.83. Orrstown Financial Services has a twelve month low of $25.57 and a twelve month high of $40.72.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings results on Tuesday, January 27th. The bank reported $1.11 EPS for the quarter, topping the consensus estimate of $1.08 by $0.03. Orrstown Financial Services had a return on equity of 15.04% and a net margin of 22.71%.The company had revenue of $64.92 million during the quarter, compared to analyst estimates of $51.54 million. On average, equities research analysts forecast that Orrstown Financial Services will post 4.23 EPS for the current fiscal year.

Orrstown Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Tuesday, February 10th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from Orrstown Financial Services’s previous quarterly dividend of $0.27. Orrstown Financial Services’s dividend payout ratio is presently 25.84%.

Institutional Trading of Orrstown Financial Services

Several institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Orrstown Financial Services by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,009 shares of the bank’s stock valued at $330,000 after buying an additional 490 shares during the last quarter. Millennium Management LLC boosted its holdings 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 acquiring an additional 182,709 shares during the period. Goldman Sachs Group Inc. grew its position in Orrstown Financial Services by 2.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 85,047 shares of the bank’s stock valued at $2,552,000 after acquiring an additional 2,417 shares during the last quarter. Jane Street Group LLC purchased a new stake in Orrstown Financial Services in the first quarter worth $1,080,000. Finally, CWM LLC lifted its position in shares of Orrstown Financial Services by 36.9% during the second quarter. CWM LLC now owns 2,417 shares of the bank’s stock worth $77,000 after purchasing an additional 651 shares during the last quarter. Institutional investors own 44.27% of the company’s stock.

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.