Orrstown Financial Services (NASDAQ:ORRF) Now Covered by Analysts at Raymond James

Research analysts at Raymond James began coverage on shares of Orrstown Financial Services (NASDAQ:ORRF) in a research report issued on Thursday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $35.00 price target on the bank’s stock. Raymond James’ price target indicates a potential upside of 35.56% from the company’s current price.

A number of other equities analysts also recently commented on ORRF. Piper Sandler assumed coverage on shares of Orrstown Financial Services in a report on Wednesday, January 8th. They issued an “overweight” rating and a $43.00 price objective for the company. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $42.00 price objective (down previously from $46.00) on shares of Orrstown Financial Services in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.80.

Orrstown Financial Services Stock Down 5.5 %

Shares of ORRF traded down $1.49 during midday trading on Thursday, hitting $25.82. The company had a trading volume of 63,467 shares, compared to its average volume of 108,612. The stock has a market cap of $503.60 million, a price-to-earnings ratio of 14.02 and a beta of 0.78. The company’s 50 day moving average price is $31.50 and its 200 day moving average price is $35.31. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.13. Orrstown Financial Services has a 52 week low of $24.70 and a 52 week high of $41.99.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings data on Friday, January 31st. The bank reported $0.87 earnings per share 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%. On average, equities research analysts predict that Orrstown Financial Services will post 4.23 EPS for the current year.

Insider Buying and Selling at Orrstown Financial Services

In other Orrstown Financial Services news, Director Scott V. Fainor acquired 3,000 shares of Orrstown Financial Services stock in a transaction dated Monday, March 24th. The stock was acquired at an average cost of $31.17 per share, for a total transaction of $93,510.00. Following the completion of the transaction, the director now owns 13,396 shares in the company, valued at approximately $417,553.32. This represents a 28.86 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Brian D. Brunner acquired 2,500 shares of Orrstown Financial Services stock in a transaction that occurred on Wednesday, March 19th. The stock was bought at an average cost of $30.87 per share, with a total value of $77,175.00. Following the acquisition, the director now directly owns 49,330 shares of the company’s stock, valued at approximately $1,522,817.10. This trade represents a 5.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 6,800 shares of company stock valued at $211,892 in the last ninety days. Company insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On Orrstown Financial Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Orrstown Financial Services in the 4th quarter worth $38,000. R Squared Ltd bought a new stake in Orrstown Financial Services in the fourth quarter worth about $42,000. VSM Wealth Advisory LLC acquired a new stake in Orrstown Financial Services in the 4th quarter valued at about $47,000. Summit Investment Advisors Inc. boosted its position in shares of Orrstown Financial Services by 21.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,942 shares of the bank’s stock valued at $71,000 after purchasing an additional 349 shares in the last quarter. Finally, Stonebridge Financial Group LLC acquired a new position in shares of Orrstown Financial Services in the 4th quarter worth approximately $92,000. 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.