Analysts Set $22.50 Target Price for Orrstown Financial Services, Inc. (ORRF)

Orrstown Financial Services, Inc. (NASDAQ:ORRF) has received a consensus broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company. Orrstown Financial Services’ rating score has declined by 100% from three months ago as a result of a number of analysts’ ratings changes.

Brokerages have set a twelve-month consensus price objective of $22.50 for the company and are predicting that the company will post $0.43 EPS for the current quarter, according to Zacks. Zacks has also assigned Orrstown Financial Services an industry rank of 172 out of 256 based on the ratings given to its competitors.

A number of analysts have commented on ORRF shares. ValuEngine lowered shares of Orrstown Financial Services from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. Sandler O’Neill lowered shares of Orrstown Financial Services from a “buy” rating to a “hold” rating and lowered their target price for the stock from $22.00 to $21.50 in a report on Friday, March 29th. Finally, Zacks Investment Research lowered shares of Orrstown Financial Services from a “hold” rating to a “sell” rating in a report on Tuesday, April 30th.

Hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA grew its holdings in shares of Orrstown Financial Services by 517.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,575 shares of the bank’s stock valued at $29,000 after buying an additional 1,320 shares during the period. SEI Investments Co acquired a new position in shares of Orrstown Financial Services in the 1st quarter valued at $96,000. Bank of America Corp DE grew its holdings in shares of Orrstown Financial Services by 20.5% in the 4th quarter. Bank of America Corp DE now owns 6,909 shares of the bank’s stock valued at $127,000 after buying an additional 1,177 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Orrstown Financial Services by 37.1% in the 1st quarter. JPMorgan Chase & Co. now owns 6,843 shares of the bank’s stock valued at $127,000 after buying an additional 1,853 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of Orrstown Financial Services by 39.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 7,853 shares of the bank’s stock valued at $143,000 after buying an additional 2,207 shares during the period. 40.46% of the stock is owned by institutional investors.

ORRF opened at $21.48 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.81 and a quick ratio of 0.81. Orrstown Financial Services has a 52 week low of $17.30 and a 52 week high of $27.05. The firm has a market cap of $203.67 million, a price-to-earnings ratio of 11.87 and a beta of 0.67.

Orrstown Financial Services (NASDAQ:ORRF) last released its earnings results on Wednesday, April 24th. The bank reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Orrstown Financial Services had a net margin of 13.42% and a return on equity of 9.45%. The firm had revenue of $19.92 million during the quarter, compared to analyst estimates of $19.65 million. Equities analysts expect that Orrstown Financial Services will post 1.69 EPS for the current year.

The company also recently declared a dividend, which will be paid on Friday, July 5th. Stockholders of record on Tuesday, April 30th will be issued a $0.15 dividend. This is a positive change from Orrstown Financial Services’s previous dividend of $0.07. The ex-dividend date of this dividend is Monday, April 29th. Orrstown Financial Services’s payout ratio is 33.15%.

Orrstown Financial Services Company Profile

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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