Orrstown Financial Services Inc (NASDAQ:ORRF) Receives Average Rating of "Buy" from Brokerages

Key Points

• Orrstown Financial Services Inc has received an average rating of "Buy" from brokerages, with four analysts rating it as buy and one as strong buy, leading to a 12-month price target of $39.25.
• Recently, the company announced a quarterly dividend increase to $0.27 per share, representing a yield of 3.2% and a dividend payout ratio of 48.21%.
• Orrstown Financial Services reported earnings per share of $1.04 for the last quarter, exceeding estimates and highlighting a return on equity of 14.69% with a net margin of 11.97%.

Shares of Orrstown Financial Services Inc (NASDAQ:ORRF - Get Free Report) have received an average rating of "Buy" from the five ratings firms that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $39.25.

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

Institutional Investors Weigh In On Orrstown Financial Services

Several hedge funds and other institutional investors have recently modified their holdings of ORRF. Vista Investment Management lifted its position in shares of Orrstown Financial Services by 5.6% during the 2nd quarter. Vista Investment Management now owns 8,444 shares of the bank's stock worth $269,000 after buying an additional 450 shares in the last quarter. Principal Financial Group Inc. grew its holdings 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 valued at $450,000 after acquiring an additional 462 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Orrstown Financial Services by 4.7% during the first 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 lifted its holdings in Orrstown Financial Services by 7.4% during the second 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% in the second quarter. CWM LLC now owns 2,417 shares of the bank's stock worth $77,000 after purchasing an additional 651 shares during the last quarter. Institutional investors own 44.27% of the company's stock.

Orrstown Financial Services Trading Down 0.2%

NASDAQ ORRF opened at $33.98 on Wednesday. The stock has a market capitalization of $662.27 million, a P/E ratio of 15.17 and a beta of 0.86. The business has a 50 day simple moving average of $34.17 and a 200 day simple moving average of $31.63. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.87 and a quick ratio of 0.87. Orrstown Financial Services has a one year low of $25.57 and a one year high of $41.99.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The bank reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.05. The firm had revenue of $62.43 million for 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%. Research analysts expect that Orrstown Financial Services will post 4.23 earnings per share for the current year.

Orrstown Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th were paid a dividend of $0.27 per share. This is an increase from Orrstown Financial Services's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.08 dividend on an annualized basis and a yield of 3.2%. Orrstown Financial Services's dividend payout ratio (DPR) is currently 48.21%.

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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