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

Shares of Orrstown Financial Services Inc (NASDAQ:ORRF) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $44.3333.

ORRF has been the subject of several recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Orrstown Financial Services in a research note on Tuesday, July 7th. Keefe, Bruyette & Woods upped their target price on shares of Orrstown Financial Services from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Hovde Group increased their target price on shares of Orrstown Financial Services from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Raymond James Financial initiated coverage on shares of Orrstown Financial Services in a report on Thursday, July 9th. They set a “market perform” rating for the company. Finally, DA Davidson reaffirmed a “neutral” rating and set a $41.00 price objective on shares of Orrstown Financial Services in a report on Wednesday, July 22nd.

Orrstown Financial Services Trading Down 0.2%

Shares of ORRF opened at $42.02 on Friday. Orrstown Financial Services has a 1 year low of $31.87 and a 1 year high of $43.81. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.01. The stock has a 50 day simple moving average of $41.49 and a 200-day simple moving average of $38.46. The stock has a market cap of $826.53 million, a PE ratio of 9.44 and a beta of 0.69.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.09 EPS for the quarter, beating the consensus estimate of $1.03 by $0.06. The business had revenue of $62.67 million for the quarter, compared to analyst estimates of $64.10 million. Orrstown Financial Services had a return on equity of 14.46% and a net margin of 24.00%. On average, sell-side analysts predict that Orrstown Financial Services will post 4.41 EPS for the current fiscal year.

Orrstown Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, August 4th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 4th. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. Orrstown Financial Services’s dividend payout ratio is 26.97%.

Insider Transactions at Orrstown Financial Services

In other Orrstown Financial Services news, EVP Amy Doll sold 3,002 shares of Orrstown Financial Services stock in a transaction on Monday, July 27th. The stock was sold at an average price of $41.61, for a total value of $124,913.22. Following the completion of the transaction, the executive vice president owned 25,669 shares in the company, valued at approximately $1,068,087.09. The trade was a 10.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ORRF. BlackRock Inc. acquired a new position in Orrstown Financial Services during the 2nd quarter worth about $68,607,000. Assenagon Asset Management S.A. bought a new stake in shares of Orrstown Financial Services during the first quarter valued at approximately $10,743,000. Kennedy Capital Management LLC increased its holdings in shares of Orrstown Financial Services by 569.5% in the third quarter. Kennedy Capital Management LLC now owns 280,723 shares of the bank’s stock valued at $9,539,000 after purchasing an additional 238,790 shares in the last quarter. Marshall Wace LLP bought a new position in Orrstown Financial Services in the 2nd quarter worth approximately $7,424,000. Finally, The Manufacturers Life Insurance Company bought a new position in Orrstown Financial Services in the 2nd quarter worth approximately $9,286,000. 44.27% of the stock is 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.