Orrstown Financial Services (NASDAQ:ORRF) Price Target Cut to $33.00

Orrstown Financial Services (NASDAQ:ORRF) had its target price trimmed by Hovde Group from $34.00 to $33.00 in a report issued on Wednesday, MarketBeat reports. The brokerage currently has an outperform rating on the bank’s stock.

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

Orrstown Financial Services Stock Performance

Shares of ORRF stock opened at $26.48 on Wednesday. Orrstown Financial Services has a one year low of $15.52 and a one 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 $26.10 and a 200 day moving average price of $25.65. The firm 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 Announces Dividend

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

Institutional Investors Weigh In On Orrstown Financial Services

Institutional investors have recently bought and sold shares of the business. Creative Financial Designs Inc. ADV purchased a new stake in Orrstown Financial Services during the fourth quarter worth approximately $46,000. AJOVista LLC purchased a new position in shares of Orrstown Financial Services in the fourth quarter valued at $67,000. Arlington Trust Co LLC purchased a new position in shares of Orrstown Financial Services in the fourth quarter valued at $132,000. SG Americas Securities LLC purchased a new position in shares of Orrstown Financial Services in the fourth quarter valued at $166,000. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of Orrstown Financial Services in the fourth quarter valued at $169,000. 44.27% of the stock is currently owned by hedge funds and other institutional investors.

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.