Orrstown Financial Services (NASDAQ:ORRF) Now Covered by Janney Montgomery Scott

Investment analysts at Janney Montgomery Scott began coverage on shares of Orrstown Financial Services (NASDAQ:ORRF) in a report issued on Friday, Marketbeat reports. The brokerage set a “buy” rating and a $32.00 price target on the bank’s stock. Janney Montgomery Scott’s price objective would indicate a potential upside of 16.96% from the stock’s previous close.

ORRF has been the topic of a number of other reports. Hovde Group cut their price objective on shares of Orrstown Financial Services from $34.00 to $33.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $32.00 price target on shares of Orrstown Financial Services in a research report on Tuesday, June 18th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.50.

Orrstown Financial Services Stock Performance

ORRF stock opened at $27.36 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $293.33 million, a price-to-earnings ratio of 8.17 and a beta of 0.90. Orrstown Financial Services has a 1 year low of $18.58 and a 1 year high of $29.79. The stock’s fifty day moving average is $26.10 and its two-hundred day moving average is $26.82.

Orrstown Financial Services (NASDAQ:ORRF) last posted its earnings results on Tuesday, April 23rd. The bank reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.15. The company had revenue of $33.51 million for the quarter, compared to analysts’ expectations of $32.01 million. Orrstown Financial Services had a return on equity of 14.31% and a net margin of 18.99%. On average, research analysts predict that Orrstown Financial Services will post 3.51 EPS for the current year.

Hedge Funds Weigh In On Orrstown Financial Services

Several institutional investors and hedge funds have recently bought and sold shares of ORRF. EntryPoint Capital LLC purchased a new position in Orrstown Financial Services during the 1st quarter valued at about $31,000. Creative Financial Designs Inc. ADV bought a new stake in shares of Orrstown Financial Services in the 4th quarter valued at approximately $46,000. AJOVista LLC bought a new stake in shares of Orrstown Financial Services in the 4th quarter valued at approximately $67,000. Arlington Trust Co LLC bought a new stake in shares of Orrstown Financial Services in the 4th quarter valued at approximately $132,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Orrstown Financial Services by 92.9% in the 1st quarter. BNP Paribas Financial Markets now owns 5,227 shares of the bank’s stock valued at $140,000 after buying an additional 2,518 shares in the last quarter. Hedge funds and other 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.