Keefe, Bruyette & Woods reaffirmed their outperform rating on shares of Orrstown Financial Services (NASDAQ:ORRF - Free Report) in a report issued on Thursday,Benzinga reports. Keefe, Bruyette & Woods currently has a $42.00 price objective on the bank's stock, up from their prior price objective of $39.00.
A number of other research firms also recently issued reports on ORRF. Raymond James Financial initiated coverage on shares of Orrstown Financial Services in a research report on Thursday, April 10th. They set an "outperform" rating and a $35.00 target price on the stock. Hovde Group raised their price target on shares of Orrstown Financial Services from $35.00 to $37.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average target price of $39.25.
Check Out Our Latest Report on ORRF
Orrstown Financial Services Stock Down 0.7%
NASDAQ:ORRF traded down $0.25 during trading hours on Thursday, reaching $34.30. The company's stock had a trading volume of 148,016 shares, compared to its average volume of 149,774. Orrstown Financial Services has a one year low of $25.57 and a one year high of $41.99. The company has a market cap of $669.19 million, a price-to-earnings ratio of 15.31 and a beta of 0.79. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.87 and a quick ratio of 0.87. The business's 50-day moving average is $31.72 and its 200-day moving average is $31.59.
Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last announced 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 net margin of 11.97% and a return on equity of 14.88%. Equities research analysts predict that Orrstown Financial Services will post 4.23 EPS for the current year.
Orrstown Financial Services Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.15%. This is a positive change from Orrstown Financial Services's previous quarterly dividend of $0.26. The ex-dividend date is Tuesday, August 5th. Orrstown Financial Services's dividend payout ratio is presently 46.43%.
Hedge Funds Weigh In On Orrstown Financial Services
A number of institutional investors have recently modified their holdings of the company. Summit Investment Advisors Inc. raised its position in Orrstown Financial Services by 21.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,942 shares of the bank's stock valued at $71,000 after buying an additional 349 shares during the last quarter. CWM LLC raised its position in Orrstown Financial Services by 36.9% in the 2nd quarter. CWM LLC now owns 2,417 shares of the bank's stock valued at $77,000 after buying an additional 651 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Orrstown Financial Services in the 4th quarter valued at $127,000. KLP Kapitalforvaltning AS purchased a new stake in Orrstown Financial Services in the 4th quarter valued at $132,000. Finally, GAMMA Investing LLC raised its position in Orrstown Financial Services by 3,994.9% in the 1st quarter. GAMMA Investing LLC now owns 4,832 shares of the bank's stock valued at $161,000 after buying an additional 4,714 shares during the last quarter. 44.27% of the stock is owned by institutional investors and hedge funds.
Orrstown Financial Services Company Profile
(
Get Free Report)
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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