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

Shares of Orrstown Financial Services Inc (NASDAQ:ORRF) have been given an average recommendation of “Moderate Buy” by the five brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $39.6667.

Several brokerages have recently weighed in on ORRF. Hovde Group lifted 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 report on Monday, February 2nd. Weiss Ratings raised Orrstown Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday.

Institutional Investors Weigh In On Orrstown Financial Services

Several institutional investors and hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. bought a new position in Orrstown Financial Services during the 3rd quarter valued at about $6,628,000. American Century Companies Inc. increased its holdings in shares of Orrstown Financial Services by 13.1% during the second quarter. American Century Companies Inc. now owns 255,717 shares of the bank’s stock worth $8,139,000 after buying an additional 29,714 shares in the last quarter. Rosenthal Henry Capital Advisors Inc. bought a new position in shares of Orrstown Financial Services in the third quarter valued at approximately $1,668,000. Geode Capital Management LLC boosted its holdings in shares of Orrstown Financial Services by 5.0% in the 2nd quarter. Geode Capital Management LLC now owns 466,343 shares of the bank’s stock worth $14,846,000 after acquiring an additional 22,191 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in Orrstown Financial Services during the 3rd quarter worth approximately $594,000. Institutional investors and hedge funds own 44.27% of the company’s stock.

Orrstown Financial Services Stock Performance

ORRF opened at $35.94 on Friday. The stock’s 50 day simple moving average is $36.67 and its 200-day simple moving average is $35.39. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.06. The stock has a market cap of $700.83 million, a PE ratio of 8.60 and a beta of 0.83. Orrstown Financial Services has a 1 year low of $25.57 and a 1 year high of $40.72.

Orrstown Financial Services (NASDAQ:ORRF) last issued its earnings results on Tuesday, January 27th. The bank reported $1.11 EPS for the quarter, topping the consensus estimate of $1.08 by $0.03. The firm had revenue of $64.92 million during the quarter, compared to analysts’ expectations of $51.54 million. Orrstown Financial Services had a return on equity of 15.04% and a net margin of 22.71%. Sell-side analysts forecast that Orrstown Financial Services will post 4.23 EPS for the current year.

Orrstown Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Tuesday, February 10th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.3%. This is a positive change from Orrstown Financial Services’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, February 10th. Orrstown Financial Services’s dividend payout ratio (DPR) is currently 28.71%.

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.