Orrstown Financial Services Inc (NASDAQ:ORRF) Receives $39.67 Consensus Target Price from Analysts

Shares of Orrstown Financial Services Inc (NASDAQ:ORRF) have received an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $39.6667.

Several equities research analysts have weighed in on the stock. Hovde Group raised their target price on shares of Orrstown Financial Services from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday. Weiss Ratings reissued a “hold (c+)” rating on shares of Orrstown Financial Services in a research report on Thursday, January 22nd.

Orrstown Financial Services Price Performance

ORRF opened at $39.32 on Tuesday. The firm has a market capitalization of $766.74 million, a PE ratio of 9.41 and a beta of 0.83. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.87 and a quick ratio of 0.87. The business’s 50-day moving average is $36.57 and its two-hundred day moving average is $34.92. Orrstown Financial Services has a 1 year low of $25.57 and a 1 year high of $39.39.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings results on Tuesday, January 27th. The bank reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.03. Orrstown Financial Services had a net margin of 22.71% and a return on equity of 15.04%. The business had revenue of $64.92 million for the quarter, compared to analysts’ expectations of $51.54 million. Research analysts anticipate that Orrstown Financial Services will post 4.23 earnings per share for the current fiscal year.

Orrstown Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Tuesday, February 10th will be issued a $0.30 dividend. This is a boost from Orrstown Financial Services’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, February 10th. Orrstown Financial Services’s dividend payout ratio is 25.84%.

Institutional Trading of Orrstown Financial Services

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

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.