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

Orrstown Financial Services Inc (NASDAQ:ORRF) has been assigned a consensus recommendation of “Moderate Buy” from the five analysts that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $41.6667.

ORRF has been the subject of several recent research reports. DA Davidson initiated coverage on Orrstown Financial Services in a research report on Friday, May 15th. They set a “neutral” rating and a $41.00 price objective for the company. Weiss Ratings raised Orrstown Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd.

Insider Buying and Selling at Orrstown Financial Services

In related news, Director Brian D. Brunner purchased 1,000 shares of Orrstown Financial Services stock in a transaction dated Wednesday, March 18th. The stock was purchased at an average cost of $34.02 per share, for a total transaction of $34,020.00. Following the completion of the acquisition, the director directly owned 50,529 shares of the company’s stock, valued at $1,718,996.58. The trade was a 2.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Orrstown Financial Services

Several institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada increased its holdings in shares of Orrstown Financial Services by 5.7% during the fourth quarter. Royal Bank of Canada now owns 4,963 shares of the bank’s stock valued at $176,000 after acquiring an additional 267 shares in the last quarter. SG Americas Securities LLC lifted its position in Orrstown Financial Services by 5.3% in the 4th quarter. SG Americas Securities LLC now owns 8,797 shares of the bank’s stock valued at $312,000 after acquiring an additional 440 shares in the last quarter. Vista Investment Management boosted its stake in Orrstown Financial Services by 5.6% during the 2nd quarter. Vista Investment Management now owns 8,444 shares of the bank’s stock valued at $269,000 after purchasing an additional 450 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Orrstown Financial Services by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,009 shares of the bank’s stock valued at $330,000 after purchasing an additional 490 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Orrstown Financial Services by 86.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,748 shares of the bank’s stock worth $56,000 after purchasing an additional 810 shares in the last quarter. 44.27% of the stock is currently owned by institutional investors.

Orrstown Financial Services Stock Performance

Shares of Orrstown Financial Services stock opened at $39.09 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $768.12 million, a P/E ratio of 8.95 and a beta of 0.70. The business has a fifty day simple moving average of $37.29 and a two-hundred day simple moving average of $36.70. Orrstown Financial Services has a 12 month low of $29.39 and a 12 month high of $40.72.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.12 EPS for the quarter, beating the consensus estimate of $1.04 by $0.08. The business had revenue of $64.58 million during the quarter, compared to analyst estimates of $63.20 million. Orrstown Financial Services had a return on equity of 14.75% and a net margin of 23.58%. On average, equities analysts forecast that Orrstown Financial Services will post 4.3 earnings per share for the current fiscal year.

Orrstown Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Tuesday, May 5th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, May 5th. This represents a $1.20 annualized dividend and a dividend yield of 3.1%. Orrstown Financial Services’s dividend payout ratio (DPR) is presently 27.46%.

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.