Orrstown Financial Services Inc (NASDAQ:ORRF) Receives $39.25 Average Target Price from Analysts

Shares of Orrstown Financial Services Inc (NASDAQ:ORRF) have earned an average recommendation of “Moderate Buy” from the six research firms that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $39.25.

Several equities research analysts have weighed in on the company. Wall Street Zen lowered Orrstown Financial Services from a “buy” rating to a “hold” rating in a research report on Saturday, August 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Orrstown Financial Services in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $42.00 target price (up from $39.00) on shares of Orrstown Financial Services in a research report on Thursday, July 24th. Finally, Zacks Research lowered Orrstown Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Nuveen LLC bought a new position in shares of Orrstown Financial Services in the first quarter worth $1,058,000. Invesco Ltd. grew its stake in shares of Orrstown Financial Services by 7.3% in the first quarter. Invesco Ltd. now owns 44,142 shares of the bank’s stock worth $1,325,000 after purchasing an additional 2,987 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of Orrstown Financial Services by 82.9% in the first quarter. Cubist Systematic Strategies LLC now owns 54,019 shares of the bank’s stock worth $1,621,000 after purchasing an additional 24,478 shares in the last quarter. Trexquant Investment LP bought a new position in shares of Orrstown Financial Services in the first quarter worth $243,000. Finally, Principal Financial Group Inc. grew its stake in shares of Orrstown Financial Services by 3.2% in the first quarter. Principal Financial Group Inc. now owns 14,997 shares of the bank’s stock worth $450,000 after purchasing an additional 462 shares in the last quarter. Institutional investors own 44.27% of the company’s stock.

Orrstown Financial Services Price Performance

Shares of NASDAQ ORRF opened at $34.04 on Friday. Orrstown Financial Services has a twelve month low of $25.57 and a twelve month high of $41.99. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $663.44 million, a price-to-earnings ratio of 9.01 and a beta of 0.83. The business has a 50 day simple moving average of $34.28 and a 200-day simple moving average of $32.28.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings results on Tuesday, November 8th. The bank reported $0.65 earnings per share for the quarter. Orrstown Financial Services had a return on equity of 14.66% and a net margin of 20.48%.The business had revenue of $28.27 million during the quarter. As a group, equities research analysts expect that Orrstown Financial Services will post 4.23 earnings per share for the current year.

Orrstown Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 12th. Stockholders of record on Wednesday, November 5th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, November 5th. This represents a $1.08 annualized dividend and a dividend yield of 3.2%. Orrstown Financial Services’s dividend payout ratio is presently 28.57%.

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.