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

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

Separately, DA Davidson initiated coverage on Orrstown Financial Services in a report on Friday, May 15th. They set a “neutral” rating and a $41.00 price objective for the company.

Institutional Trading of Orrstown Financial Services

Hedge funds and other institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. acquired a new position in Orrstown Financial Services during the first quarter worth $10,743,000. Kennedy Capital Management LLC grew its position in 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 acquired a new stake in Orrstown Financial Services in the 2nd quarter valued at $7,424,000. Millennium Management LLC increased its stake in 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 buying an additional 182,709 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Orrstown Financial Services by 170.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 278,649 shares of the bank’s stock worth $9,870,000 after buying an additional 175,682 shares in the last quarter. 44.27% of the stock is currently owned by institutional investors and hedge funds.

Orrstown Financial Services Price Performance

Shares of NASDAQ ORRF opened at $39.64 on Friday. The company has a fifty day moving average price of $38.13 and a 200 day moving average price of $37.07. The firm has a market cap of $778.93 million, a PE ratio of 9.07 and a beta of 0.70. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.06. Orrstown Financial Services has a 1-year low of $31.51 and a 1-year high of $42.42.

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

Orrstown Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 12th. Shareholders of record on Tuesday, May 5th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $1.20 dividend on an annualized basis and a yield of 3.0%. Orrstown Financial Services’s dividend 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.