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

Orrstown Financial Services Inc (NASDAQ:ORRF) has earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $39.6667.

Several brokerages have commented on ORRF. Hovde Group raised their price target 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 research report on Monday, February 23rd.

Orrstown Financial Services Price Performance

Shares of NASDAQ:ORRF opened at $34.98 on Wednesday. The firm has a market capitalization of $686.31 million, a PE ratio of 8.37 and a beta of 0.82. Orrstown Financial Services has a 1 year low of $25.57 and a 1 year high of $40.72. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.87 and a quick ratio of 0.86. The firm’s 50-day moving average is $36.36 and its two-hundred day moving average is $35.51.

Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings data on Wednesday, January 28th. The bank reported $1.12 EPS for the quarter, beating the consensus estimate of $1.08 by $0.04. Orrstown Financial Services had a net margin of 22.71% and a return on equity of 14.77%. The business had revenue of $73.89 million during the quarter, compared to analyst estimates of $51.54 million. Analysts predict 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 issued a dividend of $0.30 per share. This is a positive change from Orrstown Financial Services’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, February 10th. This represents a $1.20 annualized dividend and a yield of 3.4%. Orrstown Financial Services’s dividend payout ratio (DPR) is currently 28.71%.

Insider Transactions at Orrstown Financial Services

In related news, Director Brian D. Brunner purchased 1,000 shares of Orrstown Financial Services stock in a transaction on Wednesday, March 18th. The shares were bought at an average price of $34.02 per share, with a total value of $34,020.00. Following the transaction, the director directly owned 50,529 shares of the company’s stock, valued at approximately $1,718,996.58. This trade represents a 2.02% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.70% of the stock is owned by corporate insiders.

Institutional Trading of Orrstown Financial Services

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Orrstown Financial Services by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,115,128 shares of the bank’s stock worth $37,892,000 after acquiring an additional 27,125 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Orrstown Financial Services by 8.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 831,739 shares of the bank’s stock worth $29,460,000 after purchasing an additional 66,407 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Orrstown Financial Services by 9.2% during the third quarter. Wellington Management Group LLP now owns 608,402 shares of the bank’s stock worth $20,674,000 after purchasing an additional 51,140 shares in the last quarter. Geode Capital Management LLC increased its holdings in 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 last quarter. Finally, Millennium Management LLC raised its stake in Orrstown Financial Services by 123.8% in the first quarter. Millennium Management LLC now owns 330,322 shares of the bank’s stock valued at $9,913,000 after buying an additional 182,709 shares in the last quarter. Institutional investors and hedge funds 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.