Orrstown Financial Services Inc (NASDAQ:ORRF) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Orrstown Financial Services Inc (NASDAQ:ORRF) have been assigned a consensus rating of “Moderate Buy” from the five brokerages that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $39.6667.

Several research firms recently weighed in on ORRF. Hovde Group increased their target price on Orrstown Financial Services from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday. Weiss Ratings reissued a “hold (c+)” rating on shares of Orrstown Financial Services in a research report on Thursday, January 22nd.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ORRF. Assenagon Asset Management S.A. acquired a new stake in Orrstown Financial Services during the 3rd quarter worth approximately $6,628,000. American Century Companies Inc. grew its stake in Orrstown Financial Services by 13.1% during the second quarter. American Century Companies Inc. now owns 255,717 shares of the bank’s stock worth $8,139,000 after buying an additional 29,714 shares during the period. Geode Capital Management LLC increased its position in shares of Orrstown Financial Services by 5.0% in the second quarter. Geode Capital Management LLC now owns 466,343 shares of the bank’s stock worth $14,846,000 after acquiring an additional 22,191 shares in the last quarter. Rosenthal Henry Capital Advisors Inc. acquired a new stake in shares of Orrstown Financial Services in the third quarter worth $1,668,000. Finally, Kennedy Capital Management LLC purchased a new position in shares of Orrstown Financial Services in the 2nd quarter valued at $1,335,000. 44.27% of the stock is owned by hedge funds and other institutional investors.

Orrstown Financial Services Stock Up 4.0%

Shares of NASDAQ ORRF opened at $37.46 on Tuesday. The firm has a market cap of $730.47 million, a P/E ratio of 8.96 and a beta of 0.83. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.87 and a current ratio of 0.87. Orrstown Financial Services has a 1 year low of $25.57 and a 1 year high of $38.38. The firm’s 50 day moving average price is $36.40 and its 200 day moving average price is $34.83.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings results on Tuesday, January 27th. The bank reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.03. Orrstown Financial Services had a return on equity of 15.04% and a net margin of 22.71%.The company had revenue of $64.92 million during the quarter, compared to the consensus estimate of $51.54 million. As a group, sell-side analysts anticipate that Orrstown Financial Services will post 4.23 earnings per share for the current year.

Orrstown Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Tuesday, February 10th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $1.20 annualized dividend and a dividend yield of 3.2%. This is a boost from Orrstown Financial Services’s previous quarterly dividend of $0.27. Orrstown Financial Services’s dividend payout ratio is presently 25.84%.

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.