Orrstown Financial Services Inc (NASDAQ:ORRF) Receives $38.00 Average Target Price from Analysts

Orrstown Financial Services Inc (NASDAQ:ORRF) has been assigned an average rating of “Moderate Buy” from the five brokerages that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $38.00.

Several research firms recently commented on ORRF. Zacks Research lowered shares of Orrstown Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Orrstown Financial Services in a research report on Wednesday, October 8th.

Orrstown Financial Services Stock Up 0.5%

ORRF opened at $35.89 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.87 and a quick ratio of 0.87. Orrstown Financial Services has a 12 month low of $25.57 and a 12 month high of $38.38. The stock’s 50 day moving average price is $35.77 and its 200 day moving average price is $34.52. The stock has a market cap of $699.82 million, a P/E ratio of 9.49 and a beta of 0.82.

Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings data on Wednesday, October 22nd. The bank reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.07. Orrstown Financial Services had a net margin of 20.48% and a return on equity of 14.39%. The business had revenue of $64.37 million for the quarter, compared to analyst estimates of $51.13 million. During the same quarter last year, the business earned $1.11 earnings per share. As a group, research analysts predict that Orrstown Financial Services will post 4.23 earnings per share for the current year.

Orrstown Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 12th. Investors of record on Wednesday, November 5th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Wednesday, November 5th. Orrstown Financial Services’s payout ratio is 28.57%.

Institutional Investors Weigh In On Orrstown Financial Services

Institutional investors have recently added to or reduced their stakes in the stock. Inspire Advisors LLC boosted its stake in shares of Orrstown Financial Services by 1.0% during the 3rd quarter. Inspire Advisors LLC now owns 32,308 shares of the bank’s stock worth $1,098,000 after buying an additional 308 shares during the last quarter. SG Americas Securities LLC raised its position in 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 acquiring an additional 440 shares in the last quarter. Vista Investment Management grew its position 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 acquiring an additional 450 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Orrstown Financial Services by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,009 shares of the bank’s stock worth $330,000 after acquiring an additional 490 shares during the period. Finally, Farmers & Merchants Trust Co of Chambersburg PA raised its stake in Orrstown Financial Services by 7.4% in the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 7,302 shares of the bank’s stock valued at $232,000 after acquiring an additional 500 shares during the period. 44.27% of the stock is owned by 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.