Orrstown Financial Services (NASDAQ:ORRF) Coverage Initiated by Analysts at Janney Montgomery Scott

Janney Montgomery Scott assumed coverage on shares of Orrstown Financial Services (NASDAQ:ORRF) in a report issued on Friday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $32.00 target price on the bank’s stock.

A number of other research firms also recently commented on ORRF. Keefe, Bruyette & Woods reiterated 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 lowered their price target on Orrstown Financial Services from $34.00 to $33.00 and set an outperform rating for the company in a report on Wednesday, April 24th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $30.50.

Orrstown Financial Services Stock Performance

Shares of ORRF opened at $28.67 on Friday. The firm has a market cap of $307.34 million, a price-to-earnings ratio of 8.56 and a beta of 0.91. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $26.15 and its two-hundred day moving average is $26.82. Orrstown Financial Services has a 52-week low of $18.58 and a 52-week high of $29.79.

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

Orrstown Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Tuesday, May 7th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, May 6th. This represents a $0.80 dividend on an annualized basis and a yield of 2.79%. Orrstown Financial Services’s payout ratio is currently 23.88%.

Institutional Trading of Orrstown Financial Services

Several hedge funds have recently made changes to their positions in ORRF. EntryPoint Capital LLC bought a new position in Orrstown Financial Services during the 1st quarter worth $31,000. Creative Financial Designs Inc. ADV bought a new position in shares of Orrstown Financial Services during the fourth quarter worth about $46,000. Empowered Funds LLC grew its position in shares of Orrstown Financial Services by 7.7% during the first quarter. Empowered Funds LLC now owns 22,092 shares of the bank’s stock worth $591,000 after acquiring an additional 1,575 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Orrstown Financial Services by 4.5% in the 4th quarter. Panagora Asset Management Inc. now owns 37,796 shares of the bank’s stock worth $1,115,000 after acquiring an additional 1,642 shares during the period. Finally, AJOVista LLC bought a new stake in Orrstown Financial Services in the 4th quarter valued at about $67,000. Institutional investors 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.