Orrstown Financial Services Inc (NASDAQ:ORRF – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $44.3333.
Several equities research analysts recently commented on ORRF shares. Keefe, Bruyette & Woods lifted their price objective on Orrstown Financial Services from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Hovde Group lifted their target price on shares of Orrstown Financial Services from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. DA Davidson reiterated a “neutral” rating and set a $41.00 target price on shares of Orrstown Financial Services in a research note on Wednesday, July 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Orrstown Financial Services in a report on Tuesday, July 7th. Finally, Raymond James Financial assumed coverage on Orrstown Financial Services in a research note on Thursday, July 9th. They issued a “market perform” rating on the stock.
Read Our Latest Stock Analysis on Orrstown Financial Services
Orrstown Financial Services Stock Down 0.0%
Orrstown Financial Services (NASDAQ:ORRF – Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.06. The firm had revenue of $62.67 million during the quarter, compared to analysts’ expectations of $64.10 million. Orrstown Financial Services had a return on equity of 14.46% and a net margin of 24.00%. Analysts predict that Orrstown Financial Services will post 4.41 earnings per share for the current fiscal year.
Orrstown Financial Services Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, August 4th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Tuesday, August 4th. Orrstown Financial Services’s payout ratio is currently 26.97%.
Insider Activity at Orrstown Financial Services
In other news, EVP Amy Doll sold 3,002 shares of the company’s stock in a transaction dated 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 owned 25,669 shares of the company’s stock, valued at $1,068,087.09. This represents a 10.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.30% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC purchased a new stake in shares of Orrstown Financial Services in the 2nd quarter worth $396,000. Squarepoint Ops LLC purchased a new position in shares of Orrstown Financial Services during the 2nd quarter valued at about $276,000. Arizona State Retirement System bought a new position in shares of Orrstown Financial Services in the second quarter worth approximately $210,000. Empowered Funds LLC purchased a new stake in shares of Orrstown Financial Services in the second quarter worth $1,810,000. Finally, Bank of America Corp DE purchased a new position in shares of Orrstown Financial Services during the 2nd quarter valued at $4,735,000. 44.27% of the stock is currently owned by institutional investors.
Orrstown Financial Services Company Profile
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.
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