Orrstown Financial Services (NASDAQ:ORRF) PT Raised to $37.00

Orrstown Financial Services (NASDAQ:ORRF) had its price objective raised by research analysts at Hovde Group from $33.00 to $37.00 in a note issued to investors on Wednesday, Marketbeat reports. The firm currently has an “outperform” rating on the bank’s stock. Hovde Group’s price target suggests a potential upside of 6.38% from the company’s previous close.

Several other research firms also recently commented on ORRF. Janney Montgomery Scott began coverage on Orrstown Financial Services in a research note on Friday, June 28th. They set a “buy” rating and a $32.00 price objective for the company. Keefe, Bruyette & Woods restated an “outperform” rating and set a $32.00 price target on shares of Orrstown Financial Services in a research note on Tuesday, June 18th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Orrstown Financial Services has an average rating of “Moderate Buy” and a consensus price target of $31.50.

Orrstown Financial Services Stock Performance

Shares of Orrstown Financial Services stock opened at $34.78 on Wednesday. The firm’s fifty day simple moving average is $27.15 and its 200-day simple moving average is $26.86. Orrstown Financial Services has a 12 month low of $19.30 and a 12 month high of $35.23. The stock has a market capitalization of $372.84 million, a price-to-earnings ratio of 10.37 and a beta of 0.91. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.88 and a quick ratio of 0.88.

Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.10. Orrstown Financial Services had a net margin of 17.26% and a return on equity of 13.69%. The company had revenue of $50.45 million for the quarter, compared to analyst estimates of $31.60 million. As a group, equities analysts forecast that Orrstown Financial Services will post 3.55 earnings per share for the current year.

Institutional Trading of Orrstown Financial Services

Hedge funds have recently modified their holdings of the business. EntryPoint Capital LLC purchased a new position in Orrstown Financial Services in the first quarter worth $31,000. CWM LLC increased its holdings in shares of Orrstown Financial Services by 227.9% in the 2nd quarter. CWM LLC now owns 1,692 shares of the bank’s stock valued at $46,000 after purchasing an additional 1,176 shares in the last quarter. AJOVista LLC acquired a new stake in shares of Orrstown Financial Services in the fourth quarter valued at about $67,000. Arlington Trust Co LLC purchased a new stake in Orrstown Financial Services during the fourth quarter worth about $132,000. Finally, BNP Paribas Financial Markets boosted its holdings in Orrstown Financial Services by 92.9% during the first quarter. BNP Paribas Financial Markets now owns 5,227 shares of the bank’s stock worth $140,000 after buying an additional 2,518 shares in the last quarter. 44.27% of the stock is owned by institutional investors and hedge funds.

About Orrstown Financial Services

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.