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

Orrstown Financial Services Inc (NASDAQ:ORRF) has received a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $38.00.

A number of research analysts have weighed in on ORRF shares. Zacks Research lowered shares of Orrstown Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Orrstown Financial Services in a report on Wednesday, October 8th.

Orrstown Financial Services Trading Up 2.6%

Shares of ORRF opened at $36.27 on Friday. Orrstown Financial Services has a 52-week low of $25.57 and a 52-week high of $38.38. The stock has a market cap of $707.27 million, a PE ratio of 9.60 and a beta of 0.82. The firm’s fifty day moving average is $35.63 and its two-hundred day moving average is $34.40. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.06.

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

Orrstown Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 12th. Shareholders of record on Wednesday, November 5th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.0%. The ex-dividend date was Wednesday, November 5th. Orrstown Financial Services’s dividend payout ratio is presently 28.57%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Caldwell Trust Co acquired a new stake in Orrstown Financial Services during the second quarter worth about $25,000. State of Alaska Department of Revenue acquired a new position in Orrstown Financial Services in the 3rd quarter valued at about $26,000. Financial Consulate Inc. purchased a new stake in shares of Orrstown Financial Services in the 3rd quarter valued at approximately $36,000. Quarry LP purchased a new stake in shares of Orrstown Financial Services in the 3rd quarter valued at approximately $42,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Orrstown Financial Services during the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors own 44.27% of the company’s stock.

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.