Orrstown Financial Services (NASDAQ:ORRF) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Orrstown Financial Services (NASDAQ:ORRF) had its price target boosted by Keefe, Bruyette & Woods from $44.00 to $46.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 8.08% from the stock’s previous close.

A number of other brokerages have also weighed in on ORRF. Raymond James Financial assumed coverage on Orrstown Financial Services in a research note on Thursday, July 9th. They set a “market perform” rating on the stock. DA Davidson reiterated a “neutral” rating and set a $41.00 price objective on shares of Orrstown Financial Services in a research report on Wednesday. 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Orrstown Financial Services Stock Up 1.4%

Shares of ORRF opened at $42.56 on Thursday. Orrstown Financial Services has a 52 week low of $31.51 and a 52 week high of $43.00. The firm has a market cap of $836.30 million, a P/E ratio of 9.56 and a beta of 0.70. The firm’s 50-day simple moving average is $39.26 and its 200 day simple moving average is $37.51. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.87 and a current ratio of 0.87.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings results on Tuesday, July 21st. The bank reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.06. The firm had revenue of $64.30 million for the quarter, compared to analysts’ expectations of $64.10 million. Orrstown Financial Services had a net margin of 24.00% and a return on equity of 14.66%. On average, analysts forecast that Orrstown Financial Services will post 4.35 earnings per share for the current year.

Institutional Investors Weigh In On Orrstown Financial Services

A number of large investors have recently added to or reduced their stakes in ORRF. UBS Group AG increased its position in shares of Orrstown Financial Services by 99.3% in the fourth quarter. UBS Group AG now owns 102,329 shares of the bank’s stock worth $3,624,000 after purchasing an additional 50,979 shares during the period. Assenagon Asset Management S.A. bought a new stake in Orrstown Financial Services during the first quarter worth about $10,743,000. Thrivent Financial for Lutherans grew its stake in Orrstown Financial Services by 85.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 52,945 shares of the bank’s stock worth $1,875,000 after buying an additional 24,412 shares in the last quarter. Y Intercept Hong Kong Ltd grew its stake in Orrstown Financial Services by 53.2% during the first quarter. Y Intercept Hong Kong Ltd now owns 53,877 shares of the bank’s stock worth $1,944,000 after buying an additional 18,703 shares in the last quarter. Finally, AlphaQuest LLC increased its holdings in Orrstown Financial Services by 169.8% in the 4th quarter. AlphaQuest LLC now owns 43,992 shares of the bank’s stock valued at $1,558,000 after buying an additional 27,688 shares during the period. Institutional investors and hedge funds own 44.27% of the company’s stock.

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.