Orrstown Financial Services (NASDAQ:ORRF) Price Target Raised to $46.00

Orrstown Financial Services (NASDAQ:ORRF) had its price objective upped by Keefe, Bruyette & Woods from $44.00 to $46.00 in a report issued on Thursday morning,Benzinga reports. They currently have an outperform rating on the bank’s stock.

Other equities research analysts have also issued research reports about the company. Raymond James Financial assumed coverage on Orrstown Financial Services in a research report on Thursday, July 9th. They issued a “market perform” rating on the stock. DA Davidson restated a “neutral” rating and set a $41.00 target price on shares of Orrstown Financial Services in a research note on Wednesday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Orrstown Financial Services in a research note on Tuesday, July 7th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Orrstown Financial Services Stock Up 1.4%

Shares of NASDAQ ORRF opened at $42.56 on Thursday. The stock has a market cap of $836.22 million, a P/E ratio of 9.56 and a beta of 0.70. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.06. Orrstown Financial Services has a 12-month low of $31.51 and a 12-month high of $43.00. The business’s fifty day simple moving average is $39.26 and its 200-day simple moving average is $37.51.

Orrstown Financial Services (NASDAQ:ORRF) last released its earnings results on Tuesday, July 21st. The bank reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.06. Orrstown Financial Services had a return on equity of 14.66% and a net margin of 24.00%.The firm had revenue of $64.30 million during the quarter, compared to analyst estimates of $64.10 million. As a group, equities analysts predict that Orrstown Financial Services will post 4.37 EPS for the current fiscal year.

Orrstown Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, August 4th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, August 4th. Orrstown Financial Services’s dividend payout ratio is 26.97%.

Institutional Trading of Orrstown Financial Services

Institutional investors have recently bought and sold shares of the business. Royal Bank of Canada grew its holdings in shares of Orrstown Financial Services by 5.7% during the fourth quarter. Royal Bank of Canada now owns 4,963 shares of the bank’s stock worth $176,000 after purchasing an additional 267 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Orrstown Financial Services by 5.3% during the fourth quarter. SG Americas Securities LLC now owns 8,797 shares of the bank’s stock worth $312,000 after purchasing an additional 440 shares in the last quarter. Vista Investment Management lifted its holdings in shares of Orrstown Financial Services by 5.6% in the 2nd quarter. Vista Investment Management now owns 8,444 shares of the bank’s stock valued at $269,000 after purchasing an additional 450 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Orrstown Financial Services by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,009 shares of the bank’s stock valued at $330,000 after purchasing an additional 490 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Orrstown Financial Services by 86.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,748 shares of the bank’s stock valued at $56,000 after purchasing an additional 810 shares during the period. 44.27% of the stock is owned by hedge funds and other institutional investors.

Orrstown Financial Services Company Profile

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.