Orrstown Financial Services (NASDAQ:ORRF) Price Target Lowered to $33.00 at Hovde Group

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) had its target price lowered by equities researchers at Hovde Group from $34.00 to $33.00 in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The firm presently has an "outperform" rating on the bank's stock. Hovde Group's target price suggests a potential upside of 25.76% from the company's previous close.

Separately, Keefe, Bruyette & Woods increased their target price on Orrstown Financial Services from $30.00 to $32.00 and gave the company an "outperform" rating in a research report on Thursday, January 25th.

Orrstown Financial Services Stock Performance

ORRF traded up $0.35 during trading hours on Wednesday, reaching $26.24. The company's stock had a trading volume of 104,550 shares, compared to its average volume of 42,842. 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 company's 50-day moving average is $26.15 and its 200-day moving average is $25.60. Orrstown Financial Services has a 52 week low of $15.52 and a 52 week high of $29.79. The firm has a market cap of $280.77 million, a PE ratio of 7.70 and a beta of 0.89.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last released its earnings results on Tuesday, January 23rd. The bank reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.01. The company had revenue of $32.51 million for the quarter, compared to analyst estimates of $32.50 million. Orrstown Financial Services had a return on equity of 14.74% and a net margin of 20.32%. On average, equities analysts forecast that Orrstown Financial Services will post 3.39 EPS for the current year.

Institutional Investors Weigh In On Orrstown Financial Services

Several hedge funds and other institutional investors have recently modified their holdings of ORRF. Creative Financial Designs Inc. ADV bought a new stake in Orrstown Financial Services during the fourth quarter worth $46,000. AJOVista LLC bought a new stake in Orrstown Financial Services during the fourth quarter worth $67,000. Arlington Trust Co LLC bought a new stake in Orrstown Financial Services during the fourth quarter worth $132,000. SG Americas Securities LLC bought a new stake in Orrstown Financial Services during the fourth quarter worth $166,000. Finally, Hillsdale Investment Management Inc. bought a new stake in Orrstown Financial Services during the fourth quarter worth $169,000. 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.