Orrstown Financial Services' (ORRF) "Outperform" Rating Reaffirmed at Keefe, Bruyette & Woods

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report)'s stock had its "outperform" rating restated by Keefe, Bruyette & Woods in a note issued to investors on Monday,Benzinga reports. They currently have a $42.00 price objective on the bank's stock, down from their prior price objective of $46.00. Keefe, Bruyette & Woods' target price suggests a potential upside of 21.33% from the stock's previous close.

A number of other brokerages also recently weighed in on ORRF. Hovde Group downgraded Orrstown Financial Services from an "outperform" rating to a "market perform" rating in a report on Wednesday, November 13th. Piper Sandler assumed coverage on Orrstown Financial Services in a research note on Wednesday, January 8th. They set an "overweight" rating and a $43.00 target price for the company.

Orrstown Financial Services Trading Up 0.9 %

Shares of NASDAQ:ORRF traded up $0.32 during midday trading on Monday, hitting $34.62. 92,234 shares of the stock were exchanged, compared to its average volume of 113,026. The business's 50-day moving average price is $36.84 and its 200 day moving average price is $36.28. Orrstown Financial Services has a 12 month low of $24.70 and a 12 month high of $41.99. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $671.20 million, a price-to-earnings ratio of 18.81 and a beta of 0.90.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last posted its earnings results on Friday, January 31st. The bank reported $0.87 earnings per share for the quarter, missing analysts' consensus estimates of $1.04 by ($0.17). Orrstown Financial Services had a return on equity of 15.77% and a net margin of 7.70%. Analysts predict that Orrstown Financial Services will post 4.37 earnings per share for the current year.

Hedge Funds Weigh In On Orrstown Financial Services

Institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC grew its position in shares of Orrstown Financial Services by 120.4% during the 3rd quarter. Barclays PLC now owns 33,721 shares of the bank's stock valued at $1,212,000 after acquiring an additional 18,422 shares during the period. Empowered Funds LLC raised its position in shares of Orrstown Financial Services by 206.0% in the third quarter. Empowered Funds LLC now owns 72,563 shares of the bank's stock valued at $2,609,000 after purchasing an additional 48,851 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of Orrstown Financial Services during the 3rd quarter valued at approximately $478,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Orrstown Financial Services by 110.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,387 shares of the bank's stock worth $1,596,000 after buying an additional 23,333 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Orrstown Financial Services by 503.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 158,029 shares of the bank's stock valued at $5,683,000 after acquiring an additional 131,845 shares during the period. 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.