Orrstown Financial Services (NASDAQ:ORRF) Receives New Coverage from Analysts at Janney Montgomery Scott

Stock analysts at Janney Montgomery Scott assumed coverage on shares of Orrstown Financial Services (NASDAQ:ORRF) in a report released on Friday, MarketBeat reports. The firm set a “buy” rating and a $32.00 price target on the bank’s stock. Janney Montgomery Scott’s target price would suggest a potential upside of 21.81% from the stock’s current price.

Several other research firms have also recently commented on ORRF. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $32.00 price target on shares of Orrstown Financial Services in a report on Tuesday, June 18th. Hovde Group lowered their price target on Orrstown Financial Services from $34.00 to $33.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.50.

Orrstown Financial Services Trading Up 2.1 %

Orrstown Financial Services stock opened at $26.27 on Friday. The stock has a market cap of $281.61 million, a PE ratio of 7.84 and a beta of 0.90. The stock has a 50-day moving average price of $26.07 and a 200 day moving average price of $26.78. Orrstown Financial Services has a 52 week low of $18.58 and a 52 week high of $29.79. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12.

Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.15. The firm had revenue of $33.51 million during the quarter, compared to analysts’ expectations of $32.01 million. Orrstown Financial Services had a return on equity of 14.31% and a net margin of 18.99%. Equities research analysts predict that Orrstown Financial Services will post 3.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Orrstown Financial Services

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC lifted its stake in shares of Orrstown Financial Services by 18.9% in the 3rd quarter. FMR LLC now owns 693,031 shares of the bank’s stock valued at $14,561,000 after purchasing an additional 110,197 shares in the last quarter. Vanguard Group Inc. lifted its position in Orrstown Financial Services by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 547,755 shares of the bank’s stock worth $14,663,000 after acquiring an additional 5,332 shares in the last quarter. Pacific Ridge Capital Partners LLC lifted its position in Orrstown Financial Services by 3.9% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 228,449 shares of the bank’s stock worth $6,116,000 after acquiring an additional 8,564 shares in the last quarter. Panagora Asset Management Inc. lifted its position in Orrstown Financial Services by 4.5% during the 4th quarter. Panagora Asset Management Inc. now owns 37,796 shares of the bank’s stock worth $1,115,000 after acquiring an additional 1,642 shares in the last quarter. Finally, Quadrature Capital Ltd lifted its position in Orrstown Financial Services by 273.6% during the 1st quarter. Quadrature Capital Ltd now owns 29,666 shares of the bank’s stock worth $793,000 after acquiring an additional 21,725 shares in the last quarter. 44.27% of the stock is owned by institutional investors and hedge funds.

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.