Brokerages Set Orrstown Financial Services Inc (NASDAQ:ORRF) Price Target at $44.33

Shares of Orrstown Financial Services Inc (NASDAQ:ORRF) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $44.3333.

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

Orrstown Financial Services Stock Performance

NASDAQ:ORRF opened at $41.04 on Thursday. The firm’s fifty day simple moving average is $42.38 and its 200 day simple moving average is $39.22. 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 has a twelve month low of $31.87 and a twelve month high of $43.81. The firm has a market capitalization of $807.26 million, a price-to-earnings ratio of 9.22 and a beta of 0.69.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.06. The firm had revenue of $62.67 million during the quarter, compared to the consensus estimate of $64.10 million. Orrstown Financial Services had a return on equity of 14.46% and a net margin of 24.00%. As a group, equities research analysts expect that Orrstown Financial Services will post 4.41 earnings per share for the current fiscal year.

Orrstown Financial Services Dividend Announcement

The firm also recently declared 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 of this dividend 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 is currently 26.97%.

Insiders Place Their Bets

In other Orrstown Financial Services news, EVP Amy Doll sold 3,002 shares of the firm’s stock in a transaction that occurred on 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 owned 25,669 shares in the company, valued at $1,068,087.09. This trade represents a 10.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Orrstown Financial Services

Institutional investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC acquired a new stake in shares of Orrstown Financial Services during the second quarter worth approximately $396,000. Squarepoint Ops LLC bought a new stake in shares of Orrstown Financial Services in the second quarter worth $276,000. Arizona State Retirement System acquired a new stake in Orrstown Financial Services in the second quarter valued at $210,000. Empowered Funds LLC acquired a new stake in Orrstown Financial Services in the second quarter valued at $1,810,000. Finally, Bank of America Corp DE bought a new position in Orrstown Financial Services during the 2nd quarter valued at $4,735,000. 44.27% of the stock is owned by institutional investors and hedge funds.

Orrstown Financial Services Company Profile

Orrstown Financial Services Corporation (NASDAQ: ORRF) is a bank holding company headquartered in Shippensburg, Pennsylvania. Through its principal subsidiary, Orrstown Bank, the company provides banking and financial services to individuals, families, businesses, agricultural customers and nonprofit organizations.

Orrstown Bank offers deposit accounts, consumer and commercial loans, residential mortgage lending, agricultural financing, treasury management and other business banking services.