Orrstown Financial Services Inc (NASDAQ:ORRF) Receives $41.67 Consensus Price Target from Analysts

Shares of Orrstown Financial Services Inc (NASDAQ:ORRF) have been given a consensus rating of “Moderate Buy” by the six analysts that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $41.6667.

A number of research analysts have recently commented on ORRF shares. Raymond James Financial started coverage on shares of Orrstown Financial Services in a research report on Thursday. They set a “market perform” rating on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Orrstown Financial Services in a report on Tuesday. Finally, DA Davidson started coverage on shares of Orrstown Financial Services in a research note on Friday, May 15th. They set a “neutral” rating and a $41.00 price target on the stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP acquired a new stake in Orrstown Financial Services during the 3rd quarter valued at approximately $42,000. Raymond James Financial Inc. purchased a new position in shares of Orrstown Financial Services during the 2nd quarter valued at approximately $45,000. Tower Research Capital LLC TRC grew its position in shares of Orrstown Financial Services by 86.4% during the second quarter. Tower Research Capital LLC TRC now owns 1,748 shares of the bank’s stock worth $56,000 after buying an additional 810 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Orrstown Financial Services by 220.4% in the third quarter. Russell Investments Group Ltd. now owns 2,070 shares of the bank’s stock worth $70,000 after buying an additional 1,424 shares during the last quarter. Finally, State of Wyoming bought a new stake in shares of Orrstown Financial Services in the fourth quarter worth $143,000. Hedge funds and other institutional investors own 44.27% of the company’s stock.

Orrstown Financial Services Stock Up 0.9%

Shares of ORRF stock traded up $0.34 during trading hours on Friday, reaching $40.26. The company had a trading volume of 91,506 shares, compared to its average volume of 177,299. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.87 and a current ratio of 0.87. Orrstown Financial Services has a twelve month low of $31.51 and a twelve month high of $42.42. The company has a market capitalization of $791.11 million, a P/E ratio of 9.21 and a beta of 0.70. The stock’s fifty day simple moving average is $38.25 and its 200 day simple moving average is $37.12.

Orrstown Financial Services (NASDAQ:ORRF) last released 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. The firm had revenue of $64.58 million for 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%. As a group, sell-side analysts expect that Orrstown Financial Services will post 4.3 earnings per share for the current fiscal year.

Orrstown Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Tuesday, May 5th were paid 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 3.0%. Orrstown Financial Services’s dividend payout ratio (DPR) is currently 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.