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

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

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

Orrstown Financial Services Stock Performance

NASDAQ:ORRF opened at $26.24 on Wednesday. The stock’s 50-day simple moving average is $26.15 and its 200 day simple moving average is $25.60. The firm has a market capitalization of $280.77 million, a PE 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 twelve month low of $15.52 and a twelve month high of $29.79.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.01. The business 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 14.60% and a net margin of 18.99%. On average, analysts anticipate that Orrstown Financial Services will post 3.39 EPS for the current fiscal year.

Institutional Trading of Orrstown Financial Services

A number of hedge funds have recently made changes to their positions in ORRF. FMR LLC boosted its stake in shares of Orrstown Financial Services by 18.9% during the third 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. Inspire Advisors LLC acquired a new stake in shares of Orrstown Financial Services during the third quarter valued at about $672,000. Kennedy Capital Management LLC acquired a new stake in shares of Orrstown Financial Services during the third quarter valued at about $365,000. Bailard Inc. acquired a new stake in shares of Orrstown Financial Services during the third quarter valued at about $281,000. Finally, Pacific Ridge Capital Partners LLC boosted its stake in shares of Orrstown Financial Services by 5.2% during the third quarter. Pacific Ridge Capital Partners LLC now owns 222,684 shares of the bank’s stock valued at $4,679,000 after purchasing an additional 11,051 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.