Orrstown Financial Services (NASDAQ:ORRF) Receives New Coverage from Analysts at Janney Montgomery Scott

Janney Montgomery Scott started coverage on shares of Orrstown Financial Services (NASDAQ:ORRF) in a research note issued to investors on Friday, MarketBeat reports. The brokerage set a “buy” rating and a $32.00 price target on the bank’s stock. Janney Montgomery Scott’s price objective would indicate a potential upside of 21.81% from the stock’s previous close.

Several other equities analysts also recently weighed in on the stock. Hovde Group decreased their price target on shares of Orrstown Financial Services from $34.00 to $33.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $32.00 target price on shares of Orrstown Financial Services in a research note on Tuesday, June 18th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.50.

Orrstown Financial Services Stock Up 2.1 %

NASDAQ:ORRF opened at $26.27 on Friday. The firm has a market capitalization of $281.61 million, a P/E ratio of 7.84 and a beta of 0.90. Orrstown Financial Services has a 1-year low of $18.58 and a 1-year high of $29.79. The company’s fifty day moving average price is $26.07 and its 200-day moving average price is $26.78. 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 released its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.88 EPS for the quarter, beating the consensus estimate of $0.73 by $0.15. The company had revenue of $33.51 million for the quarter, compared to analyst estimates of $32.01 million. Orrstown Financial Services had a net margin of 18.99% and a return on equity of 14.31%. As a group, equities research analysts anticipate that Orrstown Financial Services will post 3.51 EPS for the current year.

Institutional Trading of Orrstown Financial Services

Institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC grew its stake in shares of Orrstown Financial Services by 18.9% during the 3rd quarter. FMR LLC now owns 693,031 shares of the bank’s stock worth $14,561,000 after purchasing an additional 110,197 shares during the period. Kennedy Capital Management LLC purchased a new position in Orrstown Financial Services in the third quarter valued at approximately $365,000. Creative Financial Designs Inc. ADV purchased a new position in Orrstown Financial Services in the fourth quarter valued at approximately $46,000. SG Americas Securities LLC acquired a new stake in Orrstown Financial Services in the fourth quarter valued at approximately $166,000. Finally, Assenagon Asset Management S.A. grew its position in Orrstown Financial Services by 89.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 20,598 shares of the bank’s stock valued at $608,000 after acquiring an additional 9,729 shares in the last quarter. Hedge funds and other institutional investors own 44.27% of the company’s stock.

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.