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

Orrstown Financial Services Inc (NASDAQ:ORRF) has received an average rating of “Moderate Buy” from the five brokerages that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $41.6667.

ORRF has been the topic of a number of research reports. DA Davidson started coverage on Orrstown Financial Services in a report on Friday. They issued a “neutral” rating and a $41.00 price objective on the stock. Hovde Group boosted their target price 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. Finally, Weiss Ratings raised shares of Orrstown Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd.

Orrstown Financial Services Stock Performance

Shares of NASDAQ:ORRF traded down $0.39 on Friday, hitting $35.64. The company had a trading volume of 9,265 shares, compared to its average volume of 198,480. The stock has a market cap of $700.33 million, a price-to-earnings ratio of 8.14 and a beta of 0.71. The stock has a 50 day moving average price of $36.33 and a 200 day moving average price of $36.19. Orrstown Financial Services has a 1-year low of $29.31 and a 1-year high of $40.72. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06.

Orrstown Financial Services (NASDAQ:ORRF) last posted its earnings results on Wednesday, April 22nd. The bank reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.08. The company had revenue of $64.58 million during the quarter, compared to analysts’ expectations of $63.20 million. Orrstown Financial Services had a net margin of 23.58% and a return on equity of 14.75%. Analysts expect that Orrstown Financial Services will post 4.33 EPS for the current year.

Orrstown Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Shareholders of record on Tuesday, May 5th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Tuesday, May 5th. Orrstown Financial Services’s dividend payout ratio (DPR) is 27.46%.

Insider Buying and Selling at Orrstown Financial Services

In related news, Director Brian D. Brunner bought 1,000 shares of Orrstown Financial Services stock in a transaction dated Wednesday, March 18th. The shares were bought at an average cost of $34.02 per share, with a total value of $34,020.00. Following the acquisition, the director owned 50,529 shares in the company, valued at $1,718,996.58. This trade represents a 2.02% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Orrstown Financial Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in ORRF. Entropy Technologies LP acquired a new stake in Orrstown Financial Services in the first quarter valued at about $342,000. Arrowstreet Capital Limited Partnership raised its stake in Orrstown Financial Services by 62.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 13,143 shares of the bank’s stock worth $474,000 after acquiring an additional 5,041 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Orrstown Financial Services by 3.6% in the first quarter. Cetera Investment Advisers now owns 52,018 shares of the bank’s stock worth $1,877,000 after acquiring an additional 1,784 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Orrstown Financial Services by 8.3% in the first quarter. Dimensional Fund Advisors LP now owns 900,674 shares of the bank’s stock worth $32,496,000 after acquiring an additional 68,935 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in shares of Orrstown Financial Services in the 1st quarter valued at approximately $2,111,000. 44.27% of the stock is currently 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.