Orrstown Financial Services, Inc. (ORRF) Given $22.50 Consensus Target Price by Brokerages

Shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) have been assigned a consensus broker rating score of 2.00 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. Orrstown Financial Services’ rating score has declined by 100% from 90 days ago as a result of a number of analysts’ ratings changes.

Brokerages have set a 1 year consensus price target of $22.50 for the company and are predicting that the company will post $0.39 EPS for the current quarter, according to Zacks. Zacks has also given Orrstown Financial Services an industry rank of 200 out of 255 based on the ratings given to its competitors.

A number of research firms have recently weighed in on ORRF. Zacks Investment Research upgraded Orrstown Financial Services from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th. ValuEngine lowered Orrstown Financial Services from a “hold” rating to a “sell” rating in a report on Tuesday, January 29th. Finally, Sandler O’Neill lowered Orrstown Financial Services from a “buy” rating to a “hold” rating and dropped their price target for the stock from $22.00 to $21.50 in a report on Friday, March 29th.

Shares of ORRF stock traded up $0.08 during trading hours on Wednesday, reaching $19.25. The company had a trading volume of 7,145 shares, compared to its average volume of 19,401. Orrstown Financial Services has a 12 month low of $17.30 and a 12 month high of $27.05. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $182.96 million, a PE ratio of 10.64 and a beta of 0.62.

Orrstown Financial Services (NASDAQ:ORRF) last posted its earnings results on Wednesday, January 23rd. The bank reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.10). Orrstown Financial Services had a net margin of 14.77% and a return on equity of 9.91%. The company had revenue of $19.78 million during the quarter, compared to the consensus estimate of $20.21 million. On average, equities research analysts anticipate that Orrstown Financial Services will post 1.7 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in Orrstown Financial Services by 4.0% during the fourth quarter. BlackRock Inc. now owns 560,245 shares of the bank’s stock worth $10,202,000 after acquiring an additional 21,695 shares during the period. EJF Capital LLC lifted its holdings in Orrstown Financial Services by 66.5% during the fourth quarter. EJF Capital LLC now owns 167,235 shares of the bank’s stock worth $3,045,000 after acquiring an additional 66,803 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Orrstown Financial Services by 14.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 164,116 shares of the bank’s stock worth $2,989,000 after acquiring an additional 20,494 shares during the period. Geode Capital Management LLC lifted its holdings in Orrstown Financial Services by 19.5% during the fourth quarter. Geode Capital Management LLC now owns 78,061 shares of the bank’s stock worth $1,421,000 after acquiring an additional 12,760 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in Orrstown Financial Services by 23.5% during the fourth quarter. Acadian Asset Management LLC now owns 58,043 shares of the bank’s stock worth $1,058,000 after acquiring an additional 11,033 shares during the period. Institutional investors and hedge funds own 38.68% of the company’s stock.

About Orrstown Financial Services

Orrstown Financial Services, Inc operates as the holding company for Orrstown Bank that provides commercial banking and trust services in the United States. The company accepts various deposits, including checking, savings, time, demand, and money market deposits. It also offers commercial loans, such as commercial real estate, equipment, working capital, and other commercial purpose loans; consumer loans comprising home equity and other consumer loans, as well as home equity lines of credit; residential mortgage loans; agribusiness loans; acquisition and development loans; municipal loans; and installment and other loans.

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