Boenning Scattergood upgraded shares of Orrstown Financial Services (NASDAQ:ORRF) from a neutral rating to a buy rating in a research note released on Thursday, Marketbeat Ratings reports. Boenning Scattergood currently has $24.00 price target on the bank’s stock.

Several other research firms have also commented on ORRF. Zacks Investment Research upgraded shares of Orrstown Financial Services from a hold rating to a strong-buy rating and set a $31.00 price target on the stock in a research report on Tuesday, July 24th. ValuEngine lowered shares of Orrstown Financial Services from a buy rating to a hold rating in a research report on Tuesday, August 7th. Finally, Keefe, Bruyette & Woods restated a buy rating and set a $34.00 price target on shares of Orrstown Financial Services in a research report on Thursday, July 19th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $29.67.

ORRF stock traded up $0.47 during midday trading on Thursday, hitting $20.82. 29,723 shares of the stock traded hands, compared to its average volume of 16,129. The firm has a market cap of $174.90 million, a PE ratio of 12.03 and a beta of 0.21. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 0.77. Orrstown Financial Services has a 1-year low of $19.92 and a 1-year high of $27.05.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings results on Wednesday, October 17th. The bank reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.06. The company had revenue of $18.20 million for the quarter, compared to analyst estimates of $17.87 million. Orrstown Financial Services had a net margin of 14.34% and a return on equity of 9.92%. Research analysts predict that Orrstown Financial Services will post 1.81 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 5th. Stockholders of record on Monday, October 29th will be given a $0.13 dividend. The ex-dividend date of this dividend is Friday, October 26th. This represents a $0.52 annualized dividend and a dividend yield of 2.50%. Orrstown Financial Services’s dividend payout ratio (DPR) is 40.00%.

Several hedge funds and other institutional investors have recently made changes to their positions in ORRF. Dimensional Fund Advisors LP grew its position in shares of Orrstown Financial Services by 37.6% in the first quarter. Dimensional Fund Advisors LP now owns 84,754 shares of the bank’s stock valued at $2,047,000 after purchasing an additional 23,168 shares during the period. Stifel Financial Corp acquired a new stake in shares of Orrstown Financial Services in the first quarter valued at about $431,000. Acadian Asset Management LLC grew its position in shares of Orrstown Financial Services by 318.5% in the second quarter. Acadian Asset Management LLC now owns 41,098 shares of the bank’s stock valued at $1,068,000 after purchasing an additional 31,277 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Orrstown Financial Services in the second quarter valued at about $101,000. Finally, BlackRock Inc. grew its position in shares of Orrstown Financial Services by 2.7% in the second quarter. BlackRock Inc. now owns 534,409 shares of the bank’s stock valued at $13,895,000 after purchasing an additional 13,901 shares during the period. Institutional investors and hedge funds own 41.93% of the company’s stock.

Orrstown Financial Services Company Profile

Orrstown Financial Services, Inc operates as the holding company for Orrstown Bank that provides commercial banking and trust services in the United States. The company accepts various deposits, including checking, savings, time, demand, and money market deposits. It also offers commercial loans, such as commercial real estate, equipment, working capital, and other commercial purpose loans; consumer loans comprising home equity and other consumer loans, as well as home equity lines of credit; residential mortgage loans; agribusiness loans; acquisition and development loans; municipal loans; and installment and other loans.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

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