Orrstown Financial Services (NASDAQ:ORRF) PT Lowered to $33.00

Orrstown Financial Services (NASDAQ:ORRF) had its target price decreased by Hovde Group from $34.00 to $33.00 in a research report sent to investors on Wednesday, Marketbeat.com reports. Hovde Group currently has an outperform rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods raised their target price on shares of Orrstown Financial Services from $30.00 to $32.00 and gave the stock an outperform rating in a report on Thursday, January 25th.

Orrstown Financial Services Trading Up 0.2 %

Shares of NASDAQ:ORRF opened at $26.48 on Wednesday. The stock has a market capitalization of $283.34 million, a price-to-earnings ratio of 7.90 and a beta of 0.89. Orrstown Financial Services has a 1-year low of $15.52 and a 1-year high of $29.79. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. The company has a 50 day moving average price of $26.12 and a 200 day moving average price of $25.61.

Orrstown Financial Services (NASDAQ:ORRF) last issued its earnings results on Tuesday, January 23rd. The bank reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. The firm had revenue of $32.51 million during the quarter, compared to analysts’ expectations of $32.50 million. Orrstown Financial Services had a net margin of 18.99% and a return on equity of 14.60%. On average, research analysts anticipate that Orrstown Financial Services will post 3.39 EPS for the current fiscal year.

Orrstown Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, May 7th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Monday, May 6th. Orrstown Financial Services’s dividend payout ratio is 23.88%.

Hedge Funds Weigh In On Orrstown Financial Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Orrstown Financial Services by 18.9% in the 3rd quarter. FMR LLC now owns 693,031 shares of the bank’s stock worth $14,561,000 after purchasing an additional 110,197 shares during the period. Pacific Ridge Capital Partners LLC boosted its stake in shares of Orrstown Financial Services by 5.2% during the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 222,684 shares of the bank’s stock valued at $4,679,000 after buying an additional 11,051 shares during the period. Panagora Asset Management Inc. boosted its stake in shares of Orrstown Financial Services by 4.5% during the 4th quarter. Panagora Asset Management Inc. now owns 37,796 shares of the bank’s stock valued at $1,115,000 after buying an additional 1,642 shares during the period. Inspire Advisors LLC acquired a new stake in shares of Orrstown Financial Services during the 3rd quarter valued at $672,000. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Orrstown Financial Services by 17.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 24,211 shares of the bank’s stock valued at $648,000 after buying an additional 3,613 shares during the period. Institutional investors and hedge funds own 44.27% of the company’s stock.

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.