Orrstown Financial Services (NASDAQ:ORRF) Given New $33.00 Price Target at Hovde Group

Orrstown Financial Services (NASDAQ:ORRF) had its price objective trimmed by Hovde Group from $34.00 to $33.00 in a research note released on Wednesday, Marketbeat Ratings reports. The firm currently has an outperform rating on the bank’s stock.

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

Orrstown Financial Services Stock Up 1.4 %

Shares of NASDAQ ORRF opened at $26.24 on Wednesday. The firm’s 50-day simple moving average is $26.15 and its 200 day simple moving average is $25.60. The company has a market cap of $280.77 million, a price-to-earnings ratio of 7.83 and a beta of 0.89. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. Orrstown Financial Services has a 12-month low of $15.52 and a 12-month high of $29.79.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly 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 business had revenue of $32.51 million for the quarter, compared to the consensus estimate of $32.50 million. Orrstown Financial Services had a net margin of 18.99% and a return on equity of 14.60%. On average, research analysts expect that Orrstown Financial Services will post 3.39 earnings per share for the current fiscal year.

Institutional Trading of Orrstown Financial Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its holdings in Orrstown Financial Services by 18.9% during the 3rd quarter. FMR LLC now owns 693,031 shares of the bank’s stock worth $14,561,000 after purchasing an additional 110,197 shares during the last quarter. Pacific Ridge Capital Partners LLC raised its holdings in Orrstown Financial Services by 5.2% during the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 222,684 shares of the bank’s stock worth $4,679,000 after purchasing an additional 11,051 shares during the last quarter. Panagora Asset Management Inc. increased its stake in shares of Orrstown Financial Services by 4.5% in the 4th quarter. Panagora Asset Management Inc. now owns 37,796 shares of the bank’s stock valued at $1,115,000 after acquiring an additional 1,642 shares during the last quarter. Inspire Advisors LLC bought a new stake in shares of Orrstown Financial Services in the 3rd quarter valued at about $672,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of Orrstown Financial Services by 17.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 24,211 shares of the bank’s stock valued at $648,000 after acquiring an additional 3,613 shares during the last quarter. 44.27% of the stock is owned by institutional investors.

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.