Orrstown Financial Services (NASDAQ:ORRF) Receives "Outperform" Rating from Keefe, Bruyette & Woods

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report)'s stock had its "outperform" rating reissued by stock analysts at Keefe, Bruyette & Woods in a research report issued on Thursday,Benzinga reports. They presently have a $42.00 price objective on the bank's stock, up from their previous price objective of $39.00. Keefe, Bruyette & Woods' price target would suggest a potential upside of 16.50% from the company's previous close.

ORRF has been the subject of several other reports. Raymond James Financial assumed coverage on Orrstown Financial Services in a research note on Thursday, April 10th. They issued an "outperform" rating and a $35.00 price objective for the company. Hovde Group increased their price objective on shares of Orrstown Financial Services from $35.00 to $37.00 and gave the company an "outperform" rating in a report on Wednesday, May 14th.

Orrstown Financial Services Stock Down 1.3%

Shares of ORRF traded down $0.46 during mid-day trading on Thursday, reaching $36.05. The company had a trading volume of 86,678 shares, compared to its average volume of 148,999. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a 50-day moving average price of $31.57 and a 200 day moving average price of $31.64. Orrstown Financial Services has a 52 week low of $25.57 and a 52 week high of $41.99. The company has a market capitalization of $703.26 million, a price-to-earnings ratio of 16.10 and a beta of 0.79.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The bank reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.05. The business had revenue of $62.43 million for the quarter, compared to analysts' expectations of $51.98 million. Orrstown Financial Services had a return on equity of 14.88% and a net margin of 11.97%. On average, sell-side analysts forecast that Orrstown Financial Services will post 4.23 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ORRF. Millennium Management LLC raised its position in Orrstown Financial Services by 123.8% in the 1st quarter. Millennium Management LLC now owns 330,322 shares of the bank's stock worth $9,913,000 after purchasing an additional 182,709 shares during the period. Vanguard Group Inc. raised its position in Orrstown Financial Services by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 1,042,866 shares of the bank's stock worth $38,179,000 after purchasing an additional 61,081 shares during the period. JPMorgan Chase & Co. raised its position in Orrstown Financial Services by 55.6% in the 4th quarter. JPMorgan Chase & Co. now owns 139,081 shares of the bank's stock worth $5,092,000 after purchasing an additional 49,674 shares during the period. Barclays PLC raised its position in Orrstown Financial Services by 119.2% in the 4th quarter. Barclays PLC now owns 73,922 shares of the bank's stock worth $2,707,000 after purchasing an additional 40,201 shares during the period. Finally, Tudor Investment Corp ET AL purchased a new stake in Orrstown Financial Services in the 4th quarter worth about $1,457,000. Institutional investors 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.

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