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

Orrstown Financial Services Inc (NASDAQ:ORRF) has been given a consensus recommendation of “Moderate Buy” by the five analysts that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $41.6667.

A number of research firms have commented on ORRF. Weiss Ratings raised Orrstown Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Hovde Group increased their target price on Orrstown Financial Services from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Finally, DA Davidson assumed coverage on Orrstown Financial Services in a research note on Friday. They issued a “neutral” rating and a $41.00 target price for the company.

Orrstown Financial Services Stock Performance

NASDAQ ORRF traded down $0.39 during midday trading on Friday, hitting $35.64. The company had a trading volume of 9,265 shares, compared to its average volume of 198,480. The firm has a fifty day simple moving average of $36.33 and a two-hundred day simple moving average of $36.19. The stock has a market cap of $700.33 million, a price-to-earnings ratio of 8.14 and a beta of 0.71. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.06. Orrstown Financial Services has a fifty-two week low of $29.31 and a fifty-two week high of $40.72.

Orrstown Financial Services (NASDAQ:ORRF) last issued its earnings results on Wednesday, April 22nd. The bank reported $1.12 EPS for the quarter, topping the consensus estimate of $1.04 by $0.08. The firm had revenue of $64.58 million during the quarter, compared to analysts’ expectations of $63.20 million. Orrstown Financial Services had a return on equity of 14.75% and a net margin of 23.58%. Equities analysts forecast that Orrstown Financial Services will post 4.33 earnings per share for the current fiscal year.

Orrstown Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Shareholders 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 3.4%. The ex-dividend date of this dividend was Tuesday, May 5th. Orrstown Financial Services’s payout ratio is currently 27.46%.

Insider Buying and Selling at Orrstown Financial Services

In other Orrstown Financial Services news, Director Brian D. Brunner bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The stock was acquired at an average price of $34.02 per share, with a total value of $34,020.00. Following the completion of the transaction, the director owned 50,529 shares in the company, valued at approximately $1,718,996.58. This trade represents a 2.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ORRF. Vanguard Group Inc. lifted its stake in Orrstown Financial Services by 2.5% in the third quarter. Vanguard Group Inc. now owns 1,115,128 shares of the bank’s stock valued at $37,892,000 after acquiring an additional 27,125 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Orrstown Financial Services by 8.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 900,674 shares of the bank’s stock worth $32,496,000 after purchasing an additional 68,935 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Orrstown Financial Services by 9.2% during the 3rd quarter. Wellington Management Group LLP now owns 608,402 shares of the bank’s stock worth $20,674,000 after purchasing an additional 51,140 shares during the last quarter. Millennium Management LLC raised 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 purchasing an additional 182,709 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Orrstown Financial Services in the 1st quarter valued at about $10,743,000. 44.27% of the stock is currently owned by institutional investors.

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.