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

Shares of Orrstown Financial Services Inc (NASDAQ:ORRF) have received a consensus rating of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $39.25.

Several brokerages have issued reports on ORRF. Zacks Research downgraded shares of Orrstown Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Orrstown Financial Services in a research report on Wednesday, October 8th.

Orrstown Financial Services Stock Performance

NASDAQ ORRF opened at $37.82 on Monday. 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 1-year low of $25.57 and a 1-year high of $39.01. The business has a 50 day simple moving average of $34.62 and a two-hundred day simple moving average of $33.66. The stock has a market capitalization of $737.49 million, a PE ratio of 10.01 and a beta of 0.82.

Orrstown Financial Services (NASDAQ:ORRF) last announced its earnings results on Tuesday, November 8th. The bank reported $0.65 earnings per share (EPS) for the quarter. The firm had revenue of $28.27 million for the quarter. Orrstown Financial Services had a net margin of 20.48% and a return on equity of 14.39%. On average, research analysts predict that Orrstown Financial Services will post 4.23 EPS for the current fiscal year.

Orrstown Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 12th. Investors of record on Wednesday, November 5th were paid a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, November 5th. This represents a $1.08 dividend on an annualized basis and a yield of 2.9%. Orrstown Financial Services’s dividend payout ratio (DPR) is currently 28.57%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ORRF. Kennedy Capital Management LLC increased its stake in shares of Orrstown Financial Services by 569.5% during the third quarter. Kennedy Capital Management LLC now owns 280,723 shares of the bank’s stock worth $9,539,000 after buying an additional 238,790 shares during the period. Marshall Wace LLP acquired a new position in Orrstown Financial Services during the 2nd quarter worth approximately $7,424,000. Assenagon Asset Management S.A. purchased a new stake in shares of Orrstown Financial Services in the 3rd quarter valued at approximately $6,628,000. Millennium Management LLC raised its holdings in shares of 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 purchasing an additional 182,709 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Orrstown Financial Services by 10.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 765,332 shares of the bank’s stock valued at $26,006,000 after purchasing an additional 72,373 shares in the last quarter. 44.27% of the stock is currently owned by institutional investors and hedge funds.

Orrstown Financial Services Company Profile

Orrstown Financial Services, Inc operates as the financial holding company for Orrstown Bank that provides commercial banking and financial advisory services to retail, commercial, non-profit, and government clients in the United States. It accepts various deposits, including checking, savings, time, demand, and money market deposits, as well as certificates of deposit.