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

Shares of Orrstown Financial Services Inc (NASDAQ:ORRF) have been given a consensus recommendation of “Moderate Buy” by the five research firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $41.6667.

Separately, 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 price target on the stock.

Hedge Funds Weigh In On Orrstown Financial Services

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

Orrstown Financial Services Stock Performance

Shares of NASDAQ ORRF opened at $40.85 on Friday. Orrstown Financial Services has a fifty-two week low of $31.51 and a fifty-two week high of $42.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $802.62 million, a price-to-earnings ratio of 9.35 and a beta of 0.70. The business’s 50 day moving average price is $37.92 and its 200-day moving average price is $37.02.

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. Orrstown Financial Services had a return on equity of 14.75% and a net margin of 23.58%.The company had revenue of $64.58 million for the quarter, compared to the consensus estimate of $63.20 million. On average, sell-side analysts expect that Orrstown Financial Services will post 4.3 earnings per share for the current year.

Orrstown Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Shareholders of record on Tuesday, May 5th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, May 5th. Orrstown Financial Services’s payout ratio is 27.46%.

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.