Orrstown Financial Services Inc (NASDAQ:ORRF) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Orrstown Financial Services Inc (NASDAQ:ORRF) have earned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $44.3333.

ORRF has been the topic of several recent analyst reports. DA Davidson reiterated a “neutral” rating and set a $41.00 price objective on shares of Orrstown Financial Services in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods boosted their target price on shares of Orrstown Financial Services from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Orrstown Financial Services in a research report on Tuesday, July 7th. Raymond James Financial initiated coverage on shares of Orrstown Financial Services in a research note on Thursday, July 9th. They set a “market perform” rating on the stock. Finally, Hovde Group lifted their price target on shares of Orrstown Financial Services from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, July 27th.

Insider Transactions at Orrstown Financial Services

In other Orrstown Financial Services news, EVP Amy Doll sold 3,002 shares of the company’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $41.61, for a total transaction of $124,913.22. Following the completion of the sale, the executive vice president directly owned 25,669 shares in the company, valued at $1,068,087.09. This represents a 10.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 4.30% of the company’s stock.

Institutional Trading of Orrstown Financial Services

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in Orrstown Financial Services in the second quarter valued at approximately $68,607,000. California State Teachers Retirement System lifted its position in Orrstown Financial Services by 5,217.4% during the second quarter. California State Teachers Retirement System now owns 939,417 shares of the bank’s stock valued at $38,356,000 after buying an additional 921,750 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Orrstown Financial Services during the first quarter worth approximately $10,743,000. Kennedy Capital Management LLC grew its stake in Orrstown Financial Services by 569.5% during the third quarter. Kennedy Capital Management LLC now owns 280,723 shares of the bank’s stock worth $9,539,000 after buying an additional 238,790 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of Orrstown Financial Services in the second quarter worth $7,424,000. Hedge funds and other institutional investors own 44.27% of the company’s stock.

Orrstown Financial Services Stock Performance

Orrstown Financial Services stock opened at $41.96 on Friday. The stock has a fifty day moving average price of $41.80 and a 200 day moving average price of $38.58. Orrstown Financial Services has a 52 week low of $31.87 and a 52 week high of $43.81. The firm has a market capitalization of $825.35 million, a P/E ratio of 9.43 and a beta of 0.69. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.01.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.06. The firm had revenue of $62.67 million for the quarter, compared to analyst estimates of $64.10 million. Orrstown Financial Services had a return on equity of 14.46% and a net margin of 24.00%. Equities research analysts anticipate that Orrstown Financial Services will post 4.41 earnings per share for the current year.

Orrstown Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, August 4th were issued a $0.30 dividend. The ex-dividend date was Tuesday, August 4th. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. Orrstown Financial Services’s dividend payout ratio (DPR) is presently 26.97%.

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.