Orrstown Financial Services Inc (NASDAQ:ORRF) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of Orrstown Financial Services Inc (NASDAQ:ORRF - Get Free Report) have received a consensus rating of "Moderate Buy" from the six research firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $39.25.

Several equities analysts recently issued reports on ORRF shares. Keefe, Bruyette & Woods restated an "outperform" rating and set a $42.00 price objective (up from $39.00) on shares of Orrstown Financial Services in a research note on Thursday, July 24th. Zacks Research cut Orrstown Financial Services from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 3rd. Weiss Ratings reiterated a "hold (c+)" rating on shares of Orrstown Financial Services in a research note on Saturday. Finally, Wall Street Zen cut Orrstown Financial Services from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th.

Hedge Funds Weigh In On Orrstown Financial Services

A number of institutional investors have recently bought and sold shares of the stock. Vista Investment Management increased its stake in Orrstown Financial Services by 5.6% in the 2nd quarter. Vista Investment Management now owns 8,444 shares of the bank's stock worth $269,000 after purchasing an additional 450 shares in the last quarter. Principal Financial Group Inc. boosted its position in Orrstown Financial Services by 3.2% during the 1st quarter. Principal Financial Group Inc. now owns 14,997 shares of the bank's stock worth $450,000 after acquiring an additional 462 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Orrstown Financial Services by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,009 shares of the bank's stock worth $330,000 after acquiring an additional 490 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in Orrstown Financial Services by 7.4% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 7,302 shares of the bank's stock worth $232,000 after acquiring an additional 500 shares during the period. Finally, CWM LLC boosted its position in Orrstown Financial Services by 36.9% during the 2nd quarter. CWM LLC now owns 2,417 shares of the bank's stock worth $77,000 after acquiring an additional 651 shares during the period. Hedge funds and other institutional investors own 44.27% of the company's stock.

Orrstown Financial Services Stock Up 1.4%

ORRF opened at $34.61 on Friday. The firm has a 50 day moving average price of $34.24 and a 200 day moving average price of $32.14. The company has a market cap of $674.55 million, a PE ratio of 9.16 and a beta of 0.83. Orrstown Financial Services has a 1 year low of $25.57 and a 1 year high of $41.99. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.87 and a current ratio of 0.87.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last issued its quarterly earnings data on Tuesday, November 8th. The bank reported $0.65 earnings per share (EPS) for the quarter. Orrstown Financial Services had a net margin of 20.48% and a return on equity of 14.66%. The company had revenue of $28.27 million during the quarter. Sell-side analysts expect that Orrstown Financial Services will post 4.23 earnings per share for the current year.

Orrstown Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 12th. Investors of record on Wednesday, November 5th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Wednesday, November 5th. Orrstown Financial Services's payout ratio is presently 28.57%.

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.

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