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 research report report published on Friday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $32.00 price target on the bank’s stock.

Other analysts also recently issued research reports about the company. Keefe, Bruyette & Woods reiterated an outperform rating and set a $32.00 price target on shares of Orrstown Financial Services in a research note on Tuesday, June 18th. Hovde Group decreased their price target on Orrstown Financial Services from $34.00 to $33.00 and set an outperform rating for the company 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 stock. According to MarketBeat, Orrstown Financial Services has an average rating of Moderate Buy and a consensus target price of $30.50.

Orrstown Financial Services Stock Performance

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

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

Orrstown Financial Services Announces Dividend

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

Institutional Trading of Orrstown Financial Services

Hedge funds have recently added to or reduced their stakes in the business. EntryPoint Capital LLC bought a new stake in Orrstown Financial Services during the 1st quarter valued at approximately $31,000. Creative Financial Designs Inc. ADV bought a new stake in Orrstown Financial Services during the 4th quarter valued at approximately $46,000. AJOVista LLC bought a new stake in Orrstown Financial Services during the 4th quarter valued at approximately $67,000. Arlington Trust Co LLC bought a new stake in shares of Orrstown Financial Services in the 4th quarter worth approximately $132,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Orrstown Financial Services by 92.9% in the 1st quarter. BNP Paribas Financial Markets now owns 5,227 shares of the bank’s stock worth $140,000 after acquiring an additional 2,518 shares during the period. 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.