Orrstown Financial Services (NASDAQ:ORRF – Get Free Report) had its price target boosted by equities research analysts at Hovde Group from $37.00 to $42.00 in a research note issued on Wednesday, Briefing.com reports. The firm currently has an “outperform” rating on the bank’s stock. Hovde Group’s target price would suggest a potential upside of 15.38% from the stock’s previous close.
Separately, Janney Montgomery Scott started coverage on shares of Orrstown Financial Services in a research note on Friday, June 28th. They issued a “buy” rating and a $32.00 price objective on the stock.
Read Our Latest Stock Report on Orrstown Financial Services
Orrstown Financial Services Stock Performance
Orrstown Financial Services (NASDAQ:ORRF – Get Free Report) last posted its earnings results on Tuesday, July 23rd. The bank reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.10. The firm had revenue of $50.45 million for the quarter, compared to analyst estimates of $31.60 million. Orrstown Financial Services had a net margin of 17.26% and a return on equity of 13.45%. Equities research analysts anticipate that Orrstown Financial Services will post 3.61 earnings per share for the current year.
Institutional Trading of Orrstown Financial Services
A number of institutional investors have recently bought and sold shares of the company. CWM LLC boosted its position in shares of Orrstown Financial Services by 31.0% during the 3rd quarter. CWM LLC now owns 2,217 shares of the bank’s stock valued at $80,000 after purchasing an additional 525 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Orrstown Financial Services in the first quarter valued at approximately $31,000. Empowered Funds LLC boosted its holdings in shares of Orrstown Financial Services by 7.7% during the 1st quarter. Empowered Funds LLC now owns 22,092 shares of the bank’s stock worth $591,000 after buying an additional 1,575 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Orrstown Financial Services by 92.9% during the 1st quarter. BNP Paribas Financial Markets now owns 5,227 shares of the bank’s stock worth $140,000 after buying an additional 2,518 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Orrstown Financial Services by 65.3% in the 3rd quarter. SG Americas Securities LLC now owns 9,318 shares of the bank’s stock valued at $335,000 after acquiring an additional 3,682 shares in the last quarter. 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.
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