Boenning Scattergood Reaffirms “Hold” Rating for Orrstown Financial Services Inc (ORRF)

Boenning Scattergood reiterated their hold rating on shares of Orrstown Financial Services Inc (NASDAQ:ORRF) in a report issued on Friday morning. Boenning Scattergood also issued estimates for Orrstown Financial Services’ FY2017 earnings at $1.37 EPS, Q1 2018 earnings at $0.33 EPS, Q2 2018 earnings at $0.37 EPS, Q3 2018 earnings at $0.34 EPS, Q4 2018 earnings at $0.37 EPS and FY2019 earnings at $1.55 EPS.

A number of other equities research analysts also recently commented on the company. Zacks Investment Research downgraded Orrstown Financial Services from a buy rating to a hold rating in a research report on Wednesday, September 27th. Keefe, Bruyette & Woods raised Orrstown Financial Services from a market perform rating to an outperform rating and lifted their price objective for the company from $24.00 to $28.00 in a research report on Thursday, July 27th.

Orrstown Financial Services (NASDAQ ORRF) opened at 26.70 on Friday. The stock has a 50 day moving average price of $25.02 and a 200 day moving average price of $23.33. The firm has a market cap of $222.76 million, a price-to-earnings ratio of 25.16 and a beta of 0.81. Orrstown Financial Services has a 52 week low of $18.05 and a 52 week high of $26.95.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings data on Wednesday, October 25th. The bank reported $0.34 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.34. The business had revenue of $16.34 million during the quarter, compared to the consensus estimate of $16.25 million. Orrstown Financial Services had a return on equity of 7.23% and a net margin of 14.58%. Equities research analysts expect that Orrstown Financial Services will post $1.34 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, November 6th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.80%. This is an increase from Orrstown Financial Services’s previous quarterly dividend of $0.10. Orrstown Financial Services’s payout ratio is currently 32.79%.

Large investors have recently made changes to their positions in the company. Wellington Management Group LLP grew its position in shares of Orrstown Financial Services by 17.0% in the first quarter. Wellington Management Group LLP now owns 79,813 shares of the bank’s stock valued at $1,784,000 after purchasing an additional 11,578 shares during the period. American International Group Inc. grew its position in shares of Orrstown Financial Services by 7.2% in the first quarter. American International Group Inc. now owns 4,559 shares of the bank’s stock valued at $102,000 after purchasing an additional 306 shares during the period. Kennedy Capital Management Inc. acquired a new position in Orrstown Financial Services in the second quarter valued at $442,000. SG Americas Securities LLC acquired a new position in Orrstown Financial Services in the first quarter valued at $138,000. Finally, Geode Capital Management LLC boosted its holdings in Orrstown Financial Services by 3.6% in the first quarter. Geode Capital Management LLC now owns 51,019 shares of the bank’s stock valued at $1,140,000 after acquiring an additional 1,759 shares during the last quarter. 38.00% of the stock is owned by institutional investors and hedge funds.

Orrstown Financial Services Company Profile

Orrstown Financial Services, Inc is the bank holding company for Orrstown Bank (the Bank). The Bank is engaged in commercial banking and trust business. The Company operates through Community Banking segment. The Bank’s activities involve accepting demand, time and savings deposits, and granting loans.

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