Analysts Set Orrstown Financial Services Inc (NASDAQ:ORRF) PT at $39.25

Shares of Orrstown Financial Services Inc (NASDAQ:ORRF) have been given a consensus recommendation of “Buy” by the six brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $39.25.

A number of research firms recently issued reports on ORRF. Wall Street Zen lowered Orrstown Financial Services from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. Zacks Research upgraded Orrstown Financial Services from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $42.00 target price (up from $39.00) on shares of Orrstown Financial Services in a report on Thursday, July 24th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Orrstown Financial Services in a research report on Saturday, September 27th.

Orrstown Financial Services Trading Up 0.7%

ORRF opened at $33.73 on Wednesday. The firm has a market cap of $657.43 million, a P/E ratio of 15.06 and a beta of 0.83. The business has a fifty day simple moving average of $34.06 and a 200-day simple moving average of $31.70. Orrstown Financial Services has a 52 week low of $25.57 and a 52 week high of $41.99. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.13.

Orrstown Financial Services (NASDAQ:ORRF) last released its earnings results on Tuesday, July 22nd. The bank reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. The firm had revenue of $62.43 million during the quarter, compared to analyst estimates of $51.98 million. Orrstown Financial Services had a return on equity of 14.69% and a net margin of 11.97%. On average, equities analysts expect 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 was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.08 annualized dividend and a yield of 3.2%. This is a boost from Orrstown Financial Services’s previous quarterly dividend of $0.26. Orrstown Financial Services’s dividend payout ratio (DPR) is currently 48.21%.

Hedge Funds Weigh In On Orrstown Financial Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Orrstown Financial Services by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 1,049,610 shares of the bank’s stock worth $31,499,000 after acquiring an additional 6,744 shares during the period. Geode Capital Management LLC lifted its stake in shares of Orrstown Financial Services by 5.0% during the 2nd quarter. Geode Capital Management LLC now owns 466,343 shares of the bank’s stock worth $14,846,000 after purchasing an additional 22,191 shares during the period. Millennium Management LLC lifted its stake in shares of Orrstown Financial Services by 123.8% during the 1st quarter. Millennium Management LLC now owns 330,322 shares of the bank’s stock worth $9,913,000 after purchasing an additional 182,709 shares during the period. American Century Companies Inc. raised its position in shares of Orrstown Financial Services by 13.1% in the 2nd 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. Finally, Marshall Wace LLP purchased a new position in shares of Orrstown Financial Services in the 2nd quarter worth $7,424,000. Institutional investors and hedge funds own 44.27% of the company’s stock.

About Orrstown Financial Services

Orrstown Financial Services, Inc operates as the financial holding company for Orrstown Bank that provides commercial banking and financial advisory services to retail, commercial, non-profit, and government clients in the United States. It accepts various deposits, including checking, savings, time, demand, and money market deposits, as well as certificates of deposit.