Orrstown Financial Services (NASDAQ:ORRF) PT Lowered to $33.00

Orrstown Financial Services (NASDAQ:ORRF) had its price target cut by research analysts at Hovde Group from $34.00 to $33.00 in a research report issued to clients and investors on Wednesday, Briefing.com reports. The brokerage currently has an “outperform” rating on the bank’s stock. Hovde Group’s price objective would suggest a potential upside of 27.46% from the stock’s previous close.

Separately, Keefe, Bruyette & Woods lifted their price objective on shares of Orrstown Financial Services from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th.

Orrstown Financial Services Stock Performance

Shares of NASDAQ:ORRF opened at $25.89 on Wednesday. The company’s 50 day simple moving average is $26.15 and its 200 day simple moving average is $25.57. The stock has a market capitalization of $277.02 million, a price-to-earnings ratio of 7.59 and a beta of 0.89. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87. Orrstown Financial Services has a 1 year low of $15.52 and a 1 year high of $29.79.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. The business had revenue of $32.51 million for the quarter, compared to analysts’ expectations of $32.50 million. Orrstown Financial Services had a net margin of 20.32% and a return on equity of 14.74%. As a group, research analysts predict that Orrstown Financial Services will post 3.39 EPS for the current fiscal year.

Institutional Trading of Orrstown Financial Services

Hedge funds have recently added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV acquired a new stake in Orrstown Financial Services in the fourth quarter valued at approximately $46,000. AJOVista LLC acquired a new position in shares of Orrstown Financial Services during the fourth quarter worth $67,000. Arlington Trust Co LLC acquired a new position in shares of Orrstown Financial Services during the fourth quarter worth $132,000. SG Americas Securities LLC acquired a new position in shares of Orrstown Financial Services during the fourth quarter worth $166,000. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Orrstown Financial Services during the fourth quarter worth $169,000. Institutional investors and hedge funds own 44.27% of the company’s stock.

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.