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

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

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

Orrstown Financial Services Stock Down 1.4%

Shares of NASDAQ:ORRF opened at $42.00 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $826.14 million, a PE ratio of 9.44 and a beta of 0.69. Orrstown Financial Services has a 52 week low of $31.87 and a 52 week high of $43.81. The firm has a 50 day simple moving average of $42.25 and a 200 day simple moving average of $39.03.

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

Orrstown Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, August 4th were issued a $0.30 dividend. The ex-dividend date was Tuesday, August 4th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.9%. Orrstown Financial Services’s dividend payout ratio is currently 26.97%.

Insider Activity

In related news, EVP Amy Doll sold 3,002 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The shares were 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 directly owned 25,669 shares in the company, valued at approximately $1,068,087.09. This trade represents a 10.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Orrstown Financial Services during the 2nd quarter valued at about $68,607,000. Assenagon Asset Management S.A. acquired a new position in Orrstown Financial Services in the first quarter worth approximately $10,743,000. The Manufacturers Life Insurance Company acquired a new position in Orrstown Financial Services in the second quarter worth approximately $9,286,000. Man Group plc bought a new position in Orrstown Financial Services during the second quarter valued at approximately $5,962,000. Finally, Bank of America Corp DE bought a new position in Orrstown Financial Services during the second quarter valued at approximately $4,735,000. Institutional investors and hedge funds own 44.27% of the company’s stock.

About Orrstown Financial Services

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.