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

Orrstown Financial Services (NASDAQ:ORRF)‘s stock had its “outperform” rating reissued by research analysts at Keefe, Bruyette & Woods in a research note issued on Monday,Benzinga reports. They presently have a $42.00 target price on the bank’s stock, down from their prior target price of $46.00. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 22.34% from the company’s previous close.

A number of other equities research analysts have also weighed in on ORRF. Piper Sandler initiated coverage on shares of 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. Hovde Group downgraded shares of Orrstown Financial Services from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 13th.

Orrstown Financial Services Stock Performance

Shares of ORRF stock opened at $34.33 on Monday. The company has a market capitalization of $665.66 million, a P/E ratio of 18.66 and a beta of 0.90. Orrstown Financial Services has a fifty-two week low of $24.70 and a fifty-two week 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 50 day moving average price of $36.95 and a two-hundred day moving average price of $36.29.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings data on Friday, January 31st. The bank reported $0.87 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.17). Orrstown Financial Services had a net margin of 7.70% and a return on equity of 15.77%. Analysts expect that Orrstown Financial Services will post 4.37 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ORRF. PL Capital Advisors LLC raised its stake in Orrstown Financial Services by 3,561.0% in the fourth quarter. PL Capital Advisors LLC now owns 2,356,073 shares of the bank’s stock worth $86,256,000 after buying an additional 2,291,717 shares in the last quarter. Fourthstone LLC raised its stake in Orrstown Financial Services by 223.8% in the third quarter. Fourthstone LLC now owns 1,811,825 shares of the bank’s stock valued at $65,153,000 after buying an additional 1,252,356 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Orrstown Financial Services during the 3rd quarter worth approximately $8,734,000. Petiole USA ltd purchased a new position in shares of Orrstown Financial Services in the third quarter worth $6,543,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Orrstown Financial Services by 503.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 158,029 shares of the bank’s stock worth $5,683,000 after buying an additional 131,845 shares during the period. Institutional investors own 44.27% of the company’s stock.

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.