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

Keefe, Bruyette & Woods reaffirmed their outperform rating on shares of Orrstown Financial Services (NASDAQ:ORRF) in a research report released on Tuesday, Benzinga reports. They currently have a $32.00 price target on the bank’s stock.

Separately, Hovde Group cut their price objective on shares of Orrstown Financial Services from $34.00 to $33.00 and set an outperform rating for the company in a research report on Wednesday, April 24th.

Orrstown Financial Services Price Performance

Shares of NASDAQ ORRF opened at $25.33 on Tuesday. Orrstown Financial Services has a twelve month low of $17.62 and a twelve month high of $29.79. The firm has a market cap of $271.48 million, a P/E ratio of 7.56 and a beta of 0.90. The company has a 50 day moving average of $26.00 and a 200 day moving average of $26.76. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.12.

Orrstown Financial Services (NASDAQ:ORRF) last announced its earnings results on Tuesday, April 23rd. The bank reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.15. The business had revenue of $33.51 million during the quarter, compared to analyst estimates of $32.01 million. Orrstown Financial Services had a net margin of 18.99% and a return on equity of 14.31%. As a group, research analysts expect that Orrstown Financial Services will post 3.51 EPS for the current fiscal year.

Orrstown Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Tuesday, May 7th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Monday, May 6th. Orrstown Financial Services’s dividend payout ratio is currently 23.88%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ORRF. EntryPoint Capital LLC bought a new position in shares of Orrstown Financial Services during the 1st quarter valued at about $31,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of Orrstown Financial Services during the 4th quarter valued at about $46,000. AJOVista LLC purchased a new stake in shares of Orrstown Financial Services during the 4th quarter valued at about $67,000. Arlington Trust Co LLC purchased a new stake in shares of Orrstown Financial Services during the 4th quarter valued at about $132,000. Finally, BNP Paribas Financial Markets raised its position in shares of Orrstown Financial Services by 92.9% during the 1st quarter. BNP Paribas Financial Markets now owns 5,227 shares of the bank’s stock valued at $140,000 after buying an additional 2,518 shares in the last quarter. 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.