Orrstown Financial Services (NASDAQ:ORRF) Given New $39.00 Price Target at Keefe, Bruyette & Woods

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) had its target price lifted by equities research analysts at Keefe, Bruyette & Woods from $37.00 to $39.00 in a research note issued on Friday,Benzinga reports. The firm presently has an "outperform" rating on the bank's stock. Keefe, Bruyette & Woods' target price points to a potential upside of 15.95% from the company's current price.

A number of other brokerages also recently commented on ORRF. Raymond James Financial started coverage on shares of Orrstown Financial Services in a research note on Thursday, April 10th. They set an "outperform" rating and a $35.00 target price on the stock. Hovde Group boosted their price target on shares of Orrstown Financial Services from $35.00 to $37.00 and gave the company an "outperform" rating in a research note on Wednesday, May 14th.

Orrstown Financial Services Price Performance

ORRF traded down $0.16 on Friday, reaching $33.64. 21,512 shares of the company's stock were exchanged, compared to its average volume of 143,182. The stock has a market cap of $656.15 million, a PE ratio of 17.16 and a beta of 0.79. Orrstown Financial Services has a twelve month low of $25.57 and a twelve month high of $41.99. The stock's fifty day moving average price is $30.99 and its 200-day moving average price is $31.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.87 and a quick ratio of 0.87.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The bank reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.05. Orrstown Financial Services had a net margin of 9.74% and a return on equity of 14.35%. The firm had revenue of $60.39 million for the quarter, compared to analyst estimates of $51.83 million. During the same period in the previous year, the business posted $0.88 earnings per share. Sell-side analysts expect that Orrstown Financial Services will post 4.23 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Millennium Management LLC acquired a new position in shares of Orrstown Financial Services in the fourth quarter valued at approximately $5,404,000. GAMMA Investing LLC grew its holdings in shares of Orrstown Financial Services by 3,994.9% in the first quarter. GAMMA Investing LLC now owns 4,832 shares of the bank's stock valued at $161,000 after purchasing an additional 4,714 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Orrstown Financial Services in the fourth quarter valued at approximately $833,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Orrstown Financial Services by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,519 shares of the bank's stock worth $385,000 after acquiring an additional 456 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Orrstown Financial Services by 198.8% during the 1st quarter. SG Americas Securities LLC now owns 24,399 shares of the bank's stock worth $732,000 after acquiring an additional 16,232 shares in the last quarter. Institutional investors and hedge funds 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.

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