Orrstown Gets Neutral Rating from DA Davidson

DA Davidson gives Orrstown Financial a neutral rating with $41 target. Strong deposit base and 11-year dividend growth highlight the bank's stability.

ByChloe Hall- Senior Editor

Today / 12:25|Last updated: Today / 12:27

Orrstown Gets Neutral Rating from DA Davidson — Photo: Prepared by Bond.az

Bond.az - DA Davidson initiated coverage on Orrstown Financial Services (NASDAQ:ORRF) with a neutral rating and a $41 price target. The stock currently trades at $36.03.

The bank operates a traditional community bank model with a strong core deposit franchise. Orrstown has raised its dividend for 11 consecutive years.

COO Adam Metz will become CEO on June 1. Analysts do not expect major strategic shifts.

Orrstown reported strong Q1 results with EPS of $1.12, beating estimates.

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