Zacks: Orrstown Financial Services, Inc. Common Stock (ORRF) Receives Average Recommendation of “Hold” from Brokerages

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Shares of Orrstown Financial Services, Inc. Common Stock (NASDAQ:ORRF) have received an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating. Orrstown Financial Services, Inc. Common Stock’s rating score has declined by 20% in the last 90 days as a result of various analysts’ ratings changes.

Zacks has also given Orrstown Financial Services, Inc. Common Stock an industry rank of 172 out of 255 based on the ratings given to its competitors.

A number of research analysts have weighed in on ORRF shares. Zacks Investment Research upgraded Orrstown Financial Services, Inc. Common Stock from a “hold” rating to a “strong-buy” rating and set a $29.00 target price on the stock in a report on Tuesday, April 24th. Sandler O’Neill upgraded Orrstown Financial Services, Inc. Common Stock from a “hold” rating to a “buy” rating in a report on Friday, June 8th. ValuEngine downgraded Orrstown Financial Services, Inc. Common Stock from a “strong-buy” rating to a “buy” rating in a report on Friday, May 4th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $34.00 target price on shares of Orrstown Financial Services, Inc. Common Stock in a report on Thursday, July 19th.

In related news, Director Joel R. Zullinger sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $25.77, for a total value of $25,770.00. Following the sale, the director now owns 37,949 shares in the company, valued at approximately $977,945.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anthony F. Ceddia sold 1,255 shares of the company’s stock in a transaction that occurred on Wednesday, June 6th. The stock was sold at an average price of $26.11, for a total value of $32,768.05. Following the completion of the sale, the director now owns 7,110 shares in the company, valued at approximately $185,642.10. The disclosure for this sale can be found here. Insiders sold a total of 2,755 shares of company stock worth $71,898 in the last 90 days. 5.70% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. purchased a new stake in shares of Orrstown Financial Services, Inc. Common Stock in the 2nd quarter worth approximately $101,000. O Shaughnessy Asset Management LLC boosted its stake in Orrstown Financial Services, Inc. Common Stock by 214.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,582 shares of the bank’s stock valued at $111,000 after purchasing an additional 3,123 shares during the last quarter. Stifel Financial Corp purchased a new stake in Orrstown Financial Services, Inc. Common Stock during the 1st quarter valued at $431,000. Macquarie Group Ltd. boosted its stake in Orrstown Financial Services, Inc. Common Stock by 327.2% during the 2nd quarter. Macquarie Group Ltd. now owns 16,843 shares of the bank’s stock valued at $438,000 after purchasing an additional 12,900 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Orrstown Financial Services, Inc. Common Stock by 28.3% during the 4th quarter. Bank of New York Mellon Corp now owns 33,382 shares of the bank’s stock valued at $843,000 after purchasing an additional 7,370 shares during the last quarter. Institutional investors own 46.73% of the company’s stock.

ORRF stock opened at $25.85 on Wednesday. Orrstown Financial Services, Inc. Common Stock has a fifty-two week low of $23.40 and a fifty-two week high of $27.05. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. The company has a market cap of $215.06 million, a price-to-earnings ratio of 19.88 and a beta of 0.15.

Orrstown Financial Services, Inc. Common Stock (NASDAQ:ORRF) last posted its earnings results on Friday, July 27th. The bank reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.09. Orrstown Financial Services, Inc. Common Stock had a return on equity of 9.05% and a net margin of 13.36%. The firm had revenue of $17.86 million for the quarter, compared to the consensus estimate of $17.58 million. analysts expect that Orrstown Financial Services, Inc. Common Stock will post 1.7 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 3rd. Investors of record on Saturday, July 28th were paid a $0.13 dividend. The ex-dividend date was Thursday, July 26th. This represents a $0.52 annualized dividend and a dividend yield of 2.01%. Orrstown Financial Services, Inc. Common Stock’s payout ratio is currently 40.00%.

About Orrstown Financial Services, Inc. Common Stock

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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