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

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

A number of other equities analysts also recently commented on the stock. Janney Montgomery Scott began coverage on shares of Orrstown Financial Services in a research note on Friday, June 28th. They issued a “buy” rating and a $32.00 price objective for the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $32.00 price target on shares of Orrstown Financial Services in a report on Tuesday, June 18th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Orrstown Financial Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.

Orrstown Financial Services Stock Performance

Shares of NASDAQ:ORRF opened at $34.78 on Wednesday. The firm’s 50 day simple moving average is $27.15 and its 200-day simple moving average is $26.86. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 0.88. Orrstown Financial Services has a one year low of $19.30 and a one year high of $35.23. The firm has a market cap of $372.84 million, a PE ratio of 10.37 and a beta of 0.91.

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

Institutional Trading of Orrstown Financial Services

A number of institutional investors have recently bought and sold shares of the stock. EntryPoint Capital LLC purchased a new position in shares of Orrstown Financial Services in the first quarter worth about $31,000. CWM LLC increased its position in shares of Orrstown Financial Services by 227.9% in the second quarter. CWM LLC now owns 1,692 shares of the bank’s stock valued at $46,000 after buying 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 acquired a new position in shares of Orrstown Financial Services during the fourth quarter valued at approximately $132,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of 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 currently 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.