Orrstown Financial Services (ORRF) Given “Hold” Rating at Boenning Scattergood

Boenning Scattergood reiterated their hold rating on shares of Orrstown Financial Services (NASDAQ:ORRF) in a report released on Thursday morning. Boenning Scattergood also issued estimates for Orrstown Financial Services’ FY2018 earnings at $1.81 EPS, Q1 2019 earnings at $0.44 EPS, Q2 2019 earnings at $0.49 EPS, Q3 2019 earnings at $0.47 EPS, Q4 2019 earnings at $0.53 EPS, FY2019 earnings at $1.93 EPS and FY2020 earnings at $2.22 EPS.

Other research analysts have also issued reports about the company. Keefe, Bruyette & Woods reiterated a buy rating and issued a $34.00 target price on shares of Orrstown Financial Services in a report on Thursday, July 19th. Zacks Investment Research lowered Orrstown Financial Services from a strong-buy rating to a hold rating in a report on Wednesday, June 20th. Finally, ValuEngine lowered Orrstown Financial Services from a buy rating to a hold rating in a report on Tuesday, August 7th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $32.50.

NASDAQ:ORRF traded up $0.26 during midday trading on Thursday, reaching $23.92. The company had a trading volume of 587 shares, compared to its average volume of 14,436. The firm has a market cap of $197.50 million, a PE ratio of 18.26 and a beta of 0.21. Orrstown Financial Services has a 12-month low of $22.15 and a 12-month 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.

Orrstown Financial Services (NASDAQ:ORRF) last released its earnings results on Wednesday, October 17th. The bank reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.06. The firm had revenue of $18.20 million during the quarter, compared to analyst estimates of $17.87 million. Orrstown Financial Services had a return on equity of 9.92% and a net margin of 14.34%. Equities analysts forecast that Orrstown Financial Services will post 1.7 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 5th. Shareholders of record on Monday, October 29th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Friday, October 26th. Orrstown Financial Services’s dividend payout ratio (DPR) is 40.00%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. purchased a new stake in Orrstown Financial Services during the 2nd quarter worth about $101,000. Stifel Financial Corp purchased a new stake in Orrstown Financial Services during the 1st quarter worth about $431,000. Macquarie Group Ltd. lifted its holdings in Orrstown Financial Services by 327.2% during the 2nd quarter. Macquarie Group Ltd. now owns 16,843 shares of the bank’s stock worth $438,000 after buying an additional 12,900 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Orrstown Financial Services by 318.5% during the 2nd quarter. Acadian Asset Management LLC now owns 41,098 shares of the bank’s stock worth $1,068,000 after buying an additional 31,277 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in Orrstown Financial Services by 301.3% during the 2nd quarter. Millennium Management LLC now owns 44,381 shares of the bank’s stock worth $1,154,000 after buying an additional 33,323 shares during the last quarter. 41.23% of the stock is owned by institutional investors.

Orrstown Financial Services Company Profile

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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