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

Shares of Orrstown Financial Services Inc (NASDAQ:ORRF) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $39.25.

A number of analysts recently weighed in on ORRF shares. Zacks Research lowered shares of Orrstown Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. Wall Street Zen cut Orrstown Financial Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 16th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Orrstown Financial Services in a research note on Wednesday, October 8th.

Orrstown Financial Services Price Performance

Shares of Orrstown Financial Services stock opened at $35.13 on Thursday. The stock has a market cap of $685.04 million, a price-to-earnings ratio of 9.29 and a beta of 0.87. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a 50 day moving average price of $33.98 and a 200-day moving average price of $33.03. Orrstown Financial Services has a one year low of $25.57 and a one year high of $41.50.

Orrstown Financial Services (NASDAQ:ORRF) last released 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 14.39% and a net margin of 20.48%.The company had revenue of $28.27 million for the quarter. Equities analysts expect that Orrstown Financial Services will post 4.23 EPS for the current year.

Orrstown Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 12th. Stockholders of record on Wednesday, November 5th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Wednesday, November 5th. Orrstown Financial Services’s dividend payout ratio (DPR) is 28.57%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ORRF. Nuveen LLC purchased a new stake in Orrstown Financial Services in the 1st quarter valued at about $1,058,000. Invesco Ltd. raised its stake in shares of Orrstown Financial Services by 7.3% during the first quarter. Invesco Ltd. now owns 44,142 shares of the bank’s stock valued at $1,325,000 after acquiring an additional 2,987 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Orrstown Financial Services in the first quarter valued at approximately $243,000. Cubist Systematic Strategies LLC grew its stake in 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. Finally, Cetera Investment Advisers grew its stake in Orrstown Financial Services by 5.0% in the first quarter. Cetera Investment Advisers now owns 43,829 shares of the bank’s stock worth $1,315,000 after purchasing an additional 2,075 shares in the last quarter. 44.27% of the stock is currently owned by institutional investors.

Orrstown Financial Services Company Profile

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.