Orrstown Financial Services (NASDAQ:ORRF) Stock Price Expected to Rise, Hovde Group Analyst Says

Orrstown Financial Services (NASDAQ:ORRF) had its price target boosted by equities research analysts at Hovde Group from $40.00 to $42.00 in a research note issued on Monday, Marketbeat Ratings reports. The firm presently has an “outperform” rating on the bank’s stock. Hovde Group’s price objective points to a potential upside of 10.32% from the stock’s current price.

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Orrstown Financial Services in a report on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.67.

Orrstown Financial Services Stock Up 1.6%

Shares of NASDAQ ORRF opened at $38.07 on Monday. The firm’s fifty day moving average is $36.44 and its 200 day moving average is $34.86. Orrstown Financial Services has a 52 week low of $25.57 and a 52 week high of $38.38. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.06. The company has a market cap of $742.37 million, a price-to-earnings ratio of 9.11 and a beta of 0.83.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings results on Tuesday, January 27th. The bank reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.03. The business had revenue of $64.92 million for the quarter, compared to analyst estimates of $51.54 million. Orrstown Financial Services had a net margin of 22.71% and a return on equity of 15.04%. On average, equities research analysts expect that Orrstown Financial Services will post 4.23 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ORRF. Caldwell Trust Co bought a new stake in shares of Orrstown Financial Services during the second quarter valued at approximately $25,000. State of Alaska Department of Revenue purchased a new position in Orrstown Financial Services during the third quarter valued at $26,000. Financial Consulate Inc. bought a new stake in shares of Orrstown Financial Services during the 3rd quarter valued at $36,000. Quarry LP bought a new stake in shares of Orrstown Financial Services during the 3rd quarter valued at $42,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Orrstown Financial Services in the 2nd quarter worth about $45,000. Institutional investors own 44.27% of the company’s stock.

Orrstown Financial Services Company Profile

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.