Orrstown Financial Services’ (ORRF) “Outperform” Rating Reaffirmed at Keefe, Bruyette & Woods

Orrstown Financial Services (NASDAQ:ORRF)‘s stock had its “outperform” rating reiterated by investment analysts at Keefe, Bruyette & Woods in a research report issued 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’ price objective would indicate a potential upside of 20.85% from the stock’s previous close.

Several other research firms have also recently commented on ORRF. Hovde Group cut shares of Orrstown Financial Services from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 13th. 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 price objective for the company.

Orrstown Financial Services Trading Down 4.4 %

ORRF stock traded down $1.59 during midday trading on Monday, hitting $34.75. The stock had a trading volume of 81,908 shares, compared to its average volume of 110,769. The firm has a market cap of $673.86 million, a PE ratio of 18.90 and a beta of 0.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.88 and a quick ratio of 0.88. Orrstown Financial Services has a 12-month low of $24.70 and a 12-month high of $41.99. The company’s 50-day moving average price is $37.17 and its 200 day moving average price is $36.24.

Orrstown Financial Services (NASDAQ:ORRF) last released its earnings results 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 return on equity of 15.77% and a net margin of 7.70%. On average, equities research analysts predict that Orrstown Financial Services will post 4.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Orrstown Financial Services

A number of institutional investors have recently modified their holdings of ORRF. Barclays PLC grew its position in Orrstown Financial Services by 120.4% in the 3rd quarter. Barclays PLC now owns 33,721 shares of the bank’s stock worth $1,212,000 after purchasing an additional 18,422 shares during the last quarter. Empowered Funds LLC grew its position in Orrstown Financial Services by 206.0% in the 3rd quarter. Empowered Funds LLC now owns 72,563 shares of the bank’s stock worth $2,609,000 after purchasing an additional 48,851 shares during the last quarter. Principal Financial Group Inc. bought a new position in Orrstown Financial Services in the 3rd quarter worth about $478,000. Connor Clark & Lunn Investment Management Ltd. grew its position 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 purchasing an additional 23,333 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Orrstown Financial Services by 503.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 158,029 shares of the bank’s stock worth $5,683,000 after purchasing an additional 131,845 shares during the last quarter. 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.