Orrstown Financial Services’ (ORRF) Outperform Rating Reaffirmed at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their outperform rating on shares of Orrstown Financial Services (NASDAQ:ORRF) in a report released on Monday,Benzinga reports. They currently have a $42.00 target price on the bank’s stock, down from their prior target price of $46.00.

Several other brokerages also recently issued reports on ORRF. Hovde Group downgraded shares of Orrstown Financial Services from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 13th. Piper Sandler initiated coverage on Orrstown Financial Services in a research note on Wednesday, January 8th. They issued an “overweight” rating and a $43.00 target price for the company.

Orrstown Financial Services Trading Down 4.7 %

Shares of ORRF stock opened at $34.64 on Monday. The stock has a market cap of $671.67 million, a P/E ratio of 18.83 and a beta of 0.90. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.13. Orrstown Financial Services has a fifty-two week low of $24.70 and a fifty-two week high of $41.99. The business has a fifty day simple moving average of $37.06 and a 200-day simple moving average of $36.27.

Orrstown Financial Services (NASDAQ:ORRF) last posted its earnings results on Friday, January 31st. The bank reported $0.87 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.17). Orrstown Financial Services had a net margin of 7.70% and a return on equity of 15.77%. On average, analysts forecast that Orrstown Financial Services will post 4.37 earnings per share for the current fiscal year.

Orrstown Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 14th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.00%. This is an increase from Orrstown Financial Services’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, February 14th. Orrstown Financial Services’s dividend payout ratio is presently 50.00%.

Institutional Investors Weigh In On Orrstown Financial Services

A number of institutional investors have recently added to or reduced their stakes in ORRF. CWM LLC increased its position in Orrstown Financial Services by 31.0% during the 3rd quarter. CWM LLC now owns 2,217 shares of the bank’s stock worth $80,000 after purchasing an additional 525 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Orrstown Financial Services in the fourth quarter worth $38,000. R Squared Ltd purchased a new position in shares of Orrstown Financial Services in the 4th quarter valued at $42,000. Principal Financial Group Inc. lifted its holdings in shares of Orrstown Financial Services by 9.4% during the 4th quarter. Principal Financial Group Inc. now owns 14,535 shares of the bank’s stock valued at $532,000 after acquiring an additional 1,245 shares in the last quarter. Finally, Segall Bryant & Hamill LLC lifted its holdings in shares of Orrstown Financial Services by 1.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 124,652 shares of the bank’s stock valued at $4,482,000 after acquiring an additional 2,143 shares in the last quarter. Hedge funds and other institutional investors own 44.27% of the company’s stock.

Orrstown Financial Services Company Profile

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.