Orrstown Financial Services (NASDAQ:ORRF) Research Coverage Started at Janney Montgomery Scott

Janney Montgomery Scott began coverage on shares of Orrstown Financial Services (NASDAQ:ORRF) in a research note issued to investors on Friday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $32.00 target price on the bank’s stock.

Several other analysts also recently issued reports on the company. Keefe, Bruyette & Woods reissued an outperform rating and issued a $32.00 price target on shares of Orrstown Financial Services in a research note on Tuesday, June 18th. Hovde Group dropped their price target on Orrstown Financial Services from $34.00 to $33.00 and set an outperform rating on the stock in a research note on Wednesday, April 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Orrstown Financial Services currently has an average rating of Moderate Buy and an average target price of $30.50.

Orrstown Financial Services Stock Performance

ORRF stock opened at $27.36 on Friday. The business’s 50-day moving average price is $26.10 and its two-hundred day moving average price is $26.80. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. The firm has a market cap of $293.30 million, a PE ratio of 8.17 and a beta of 0.90. Orrstown Financial Services has a 1-year low of $18.58 and a 1-year high of $29.79.

Orrstown Financial Services (NASDAQ:ORRF) last posted its earnings results on Tuesday, April 23rd. The bank reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.15. The firm had revenue of $33.51 million for the quarter, compared to analyst estimates of $32.01 million. Orrstown Financial Services had a return on equity of 14.31% and a net margin of 18.99%. As a group, research analysts forecast that Orrstown Financial Services will post 3.51 earnings per share for the current year.

Orrstown Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Tuesday, May 7th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend was Monday, May 6th. Orrstown Financial Services’s dividend payout ratio is currently 23.88%.

Institutional Trading of Orrstown Financial Services

A number of hedge funds and other institutional investors have recently modified their holdings of ORRF. EntryPoint Capital LLC acquired a new stake in shares of Orrstown Financial Services in the first quarter valued at about $31,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of Orrstown Financial Services in the fourth quarter valued at about $46,000. AJOVista LLC acquired a new stake in shares of Orrstown Financial Services in the fourth quarter valued at about $67,000. Arlington Trust Co LLC acquired a new stake in shares of Orrstown Financial Services in the fourth quarter valued at about $132,000. Finally, BNP Paribas Financial Markets increased its position in shares of Orrstown Financial Services by 92.9% in the first quarter. BNP Paribas Financial Markets now owns 5,227 shares of the bank’s stock valued at $140,000 after acquiring an additional 2,518 shares during the last quarter. Institutional investors and hedge funds own 44.27% of the company’s stock.

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.