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

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

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

Orrstown Financial Services Trading Up 0.4%

Shares of NASDAQ:ORRF opened at $37.84 on Tuesday. The company’s 50-day moving average price is $36.96 and its two-hundred day moving average price is $36.54. 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 has a one year low of $29.39 and a one year high of $40.72. The stock has a market capitalization of $743.56 million, a PE ratio of 8.66 and a beta of 0.70.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly 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. Orrstown Financial Services had a net margin of 23.58% and a return on equity of 14.75%. The firm had revenue of $64.58 million for the quarter, compared to analysts’ expectations of $63.20 million. On average, equities analysts forecast that Orrstown Financial Services will post 4.3 EPS for the current fiscal year.

Orrstown Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Tuesday, May 5th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, May 5th. Orrstown Financial Services’s dividend payout ratio is presently 27.46%.

Insider Activity

In other news, Director Brian D. Brunner bought 1,000 shares of the company’s stock in a transaction dated Wednesday, March 18th. The shares were bought at an average cost of $34.02 per share, with a total value of $34,020.00. Following the acquisition, the director owned 50,529 shares in the company, valued at $1,718,996.58. This trade represents a 2.02% increase 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 modified their holdings of the company. Quarry LP bought a new stake in shares of Orrstown Financial Services in the 3rd quarter valued at about $42,000. Raymond James Financial Inc. bought a new stake in shares of Orrstown Financial Services in the 2nd quarter valued at about $45,000. Tower Research Capital LLC TRC raised 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 valued at $56,000 after purchasing an additional 810 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Orrstown Financial Services by 220.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,070 shares of the bank’s stock valued at $70,000 after purchasing an additional 1,424 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in shares of Orrstown Financial Services by 120.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,061 shares of the bank’s stock valued at $138,000 after purchasing an additional 2,221 shares during the period. 44.27% of the stock is owned by institutional investors.

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.