Janney Montgomery Scott began coverage on shares of Orrstown Financial Services (NASDAQ:ORRF – Free Report) in a research report report published on Friday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $32.00 price objective on the bank’s stock.
Several other research firms also recently commented on ORRF. Hovde Group decreased their target price on Orrstown Financial Services from $34.00 to $33.00 and set an outperform rating on the stock in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods reaffirmed an outperform rating and issued a $32.00 price objective on shares of Orrstown Financial Services in a report on Tuesday, June 18th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Orrstown Financial Services has a consensus rating of Moderate Buy and an average price target of $30.50.
Read Our Latest Analysis on ORRF
Orrstown Financial Services Trading Up 4.8 %
Orrstown Financial Services (NASDAQ:ORRF – Get Free Report) last posted its earnings results on Tuesday, April 23rd. The bank reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.15. Orrstown Financial Services had a net margin of 18.99% and a return on equity of 14.31%. The company had revenue of $33.51 million during the quarter, compared to analysts’ expectations of $32.01 million. Research analysts forecast that Orrstown Financial Services will post 3.51 EPS for the current year.
Orrstown Financial Services Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Tuesday, May 7th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Monday, May 6th. Orrstown Financial Services’s dividend payout ratio (DPR) is presently 23.88%.
Hedge Funds Weigh In On Orrstown Financial Services
Several hedge funds have recently bought and sold shares of the company. EntryPoint Capital LLC bought a new stake in shares of Orrstown Financial Services during the 1st quarter worth approximately $31,000. Creative Financial Designs Inc. ADV acquired a new position in Orrstown Financial Services during the fourth quarter valued at approximately $46,000. AJOVista LLC bought a new stake in Orrstown Financial Services during the fourth quarter worth $67,000. Arlington Trust Co LLC acquired a new stake in shares of Orrstown Financial Services in the 4th quarter valued at $132,000. Finally, BNP Paribas Financial Markets increased its stake 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 valued at $140,000 after purchasing an additional 2,518 shares during the last quarter. 44.27% of the stock is owned by institutional investors.
About Orrstown Financial Services
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.
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