Brokerages Set Orrstown Financial Services Inc (NASDAQ:ORRF) Price Target at $39.67

Orrstown Financial Services Inc (NASDAQ:ORRF) has been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $39.6667.

A number of equities research analysts have recently issued reports on the company. Weiss Ratings upgraded Orrstown Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Hovde Group lifted their price target on Orrstown Financial Services from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd.

Insider Buying and Selling at Orrstown Financial Services

In other news, Director Brian D. Brunner bought 1,000 shares of the company’s stock in a transaction dated Wednesday, March 18th. The stock was bought at an average price of $34.02 per share, with a total value of $34,020.00. Following the completion of the acquisition, the director owned 50,529 shares of the company’s stock, valued at $1,718,996.58. This represents a 2.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On Orrstown Financial Services

A number of hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. acquired a new position in shares of Orrstown Financial Services during the 3rd quarter worth approximately $6,628,000. American Century Companies Inc. raised its position in shares of Orrstown Financial Services by 13.1% in the second quarter. American Century Companies Inc. now owns 255,717 shares of the bank’s stock valued at $8,139,000 after buying an additional 29,714 shares in the last quarter. Rosenthal Henry Capital Advisors Inc. acquired a new stake in shares of Orrstown Financial Services in the third quarter valued at approximately $1,668,000. Geode Capital Management LLC boosted its stake in shares of Orrstown Financial Services by 5.0% in the second quarter. Geode Capital Management LLC now owns 466,343 shares of the bank’s stock valued at $14,846,000 after buying an additional 22,191 shares during the period. Finally, Kennedy Capital Management LLC bought a new stake in shares of Orrstown Financial Services in the second quarter valued at approximately $1,335,000. 44.27% of the stock is owned by institutional investors.

Orrstown Financial Services Stock Performance

NASDAQ ORRF opened at $34.98 on Wednesday. The firm has a 50-day moving average of $36.36 and a 200-day moving average of $35.51. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.87. The stock has a market cap of $686.31 million, a PE ratio of 8.37 and a beta of 0.82. Orrstown Financial Services has a 52-week low of $25.57 and a 52-week high of $40.72.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings results on Wednesday, January 28th. The bank reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. The business had revenue of $73.89 million for the quarter, compared to analyst estimates of $51.54 million. Orrstown Financial Services had a net margin of 22.71% and a return on equity of 14.77%. On average, sell-side analysts anticipate that Orrstown Financial Services will post 4.23 EPS for the current year.

Orrstown Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Tuesday, February 10th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.4%. The ex-dividend date was Tuesday, February 10th. This is a positive change from Orrstown Financial Services’s previous quarterly dividend of $0.27. Orrstown Financial Services’s dividend payout ratio (DPR) is 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.