Orrstown Financial Services (NASDAQ:ORRF) Price Target Increased to $42.00 by Analysts at Hovde Group

Orrstown Financial Services (NASDAQ:ORRF) had its target price hoisted by Hovde Group from $37.00 to $42.00 in a research report report published on Wednesday morning, MarketBeat Ratings reports. They currently have an outperform rating on the bank’s stock.

Separately, Janney Montgomery Scott initiated coverage on Orrstown Financial Services in a report on Friday, June 28th. They issued a “buy” rating and a $32.00 target price for the company.

Orrstown Financial Services Stock Performance

NASDAQ:ORRF opened at $37.56 on Wednesday. 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 stock’s fifty day moving average is $35.36 and its 200 day moving average is $30.43. The firm has a market capitalization of $402.68 million, a PE ratio of 11.21 and a beta of 0.90. Orrstown Financial Services has a fifty-two week low of $20.00 and a fifty-two week high of $38.81.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings results on Tuesday, October 22nd. The bank reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.19. The firm had revenue of $95.37 million for the quarter, compared to the consensus estimate of $60.90 million. Orrstown Financial Services had a return on equity of 13.45% and a net margin of 17.26%. On average, sell-side analysts anticipate that Orrstown Financial Services will post 3.61 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. EntryPoint Capital LLC acquired a new position in shares of Orrstown Financial Services during the first quarter worth $31,000. CWM LLC lifted its position in Orrstown Financial Services by 227.9% during the second quarter. CWM LLC now owns 1,692 shares of the bank’s stock valued at $46,000 after purchasing an additional 1,176 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Orrstown Financial Services by 92.9% in 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 during the last quarter. SG Americas Securities LLC purchased a new stake in Orrstown Financial Services in the 2nd quarter worth approximately $154,000. Finally, Fulton Bank N.A. acquired a new stake in Orrstown Financial Services during the third quarter valued at $209,000. 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.