Orrstown Financial Services (NASDAQ:ORRF) Price Target Raised to $46.00 at Keefe, Bruyette & Woods

Orrstown Financial Services (NASDAQ:ORRF) had its target price raised by equities research analysts at Keefe, Bruyette & Woods from $44.00 to $46.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 11.19% from the stock’s previous close.

Several other analysts have also recently commented on the stock. DA Davidson restated a “neutral” rating and issued a $41.00 target price on shares of Orrstown Financial Services in a research note on Wednesday. Raymond James Financial began coverage on shares of Orrstown Financial Services in a research note on Thursday, July 9th. They set a “market perform” rating on the stock. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Orrstown Financial Services in a report on Tuesday, July 7th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.00.

Orrstown Financial Services Trading Up 0.3%

Shares of ORRF stock opened at $41.37 on Thursday. The company has a market capitalization of $812.84 million, a P/E ratio of 9.30 and a beta of 0.70. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $38.99 and its two-hundred day moving average is $37.42. Orrstown Financial Services has a twelve month low of $31.51 and a twelve month high of $42.54.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings results on Tuesday, July 21st. The bank reported $1.09 EPS for the quarter, topping the consensus estimate of $1.03 by $0.06. Orrstown Financial Services had a return on equity of 14.66% and a net margin of 24.00%.The business had revenue of $64.30 million during the quarter, compared to analysts’ expectations of $64.10 million. Equities analysts forecast that Orrstown Financial Services will post 4.29 EPS for the current year.

Hedge Funds Weigh In On Orrstown Financial Services

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its position in Orrstown Financial Services by 24.2% during the first quarter. Bank of America Corp DE now owns 139,990 shares of the bank’s stock worth $5,051,000 after purchasing an additional 27,301 shares in the last quarter. Royal Bank of Canada grew its holdings in Orrstown Financial Services by 33.2% in the first quarter. Royal Bank of Canada now owns 6,612 shares of the bank’s stock valued at $239,000 after purchasing an additional 1,649 shares during the last quarter. Quantinno Capital Management LP increased its position in shares of Orrstown Financial Services by 75.9% in the first quarter. Quantinno Capital Management LP now owns 27,365 shares of the bank’s stock valued at $987,000 after buying an additional 11,808 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of Orrstown Financial Services in the first quarter valued at $342,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Orrstown Financial Services by 62.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 13,143 shares of the bank’s stock worth $474,000 after buying an additional 5,041 shares during the last quarter. 44.27% of the stock is owned by institutional investors and hedge funds.

About Orrstown Financial Services

Orrstown Financial Services, Inc is the bank holding company for Orrstown Bank, a community banking organization headquartered in Shippensburg, Pennsylvania. The roots of Orrstown Bank date back to 1865, and the holding company structure was established to support its growth and diversification. As a regional financial institution, Orrstown Financial Services focuses on delivering personalized banking solutions to individuals, families and businesses across Central Pennsylvania.

The company’s core offerings include a full suite of deposit products such as checking and savings accounts, money market accounts and certificates of deposit.