Shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF – Get Free Report) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $37.86 and last traded at $37.26, with a volume of 56930 shares. The stock had previously closed at $37.74.
Wall Street Analyst Weigh In
Several analysts have commented on ORRF shares. Janney Montgomery Scott assumed coverage on shares of Orrstown Financial Services in a report on Friday, June 28th. They issued a “buy” rating and a $32.00 price objective for the company. Hovde Group lifted their price target on Orrstown Financial Services from $33.00 to $37.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th.
Get Our Latest Analysis on Orrstown Financial Services
Orrstown Financial Services Stock Performance
Orrstown Financial Services (NASDAQ:ORRF – Get Free Report) last issued its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.10. Orrstown Financial Services had a return on equity of 13.45% and a net margin of 17.26%. The firm had revenue of $50.45 million for the quarter, compared to analysts’ expectations of $31.60 million. On average, research analysts anticipate that Orrstown Financial Services, Inc. will post 3.61 earnings per share for the current year.
Institutional Trading of Orrstown Financial Services
Several institutional investors have recently bought and sold shares of the company. CWM LLC lifted its position in Orrstown Financial Services by 31.0% in the 3rd quarter. CWM LLC now owns 2,217 shares of the bank’s stock valued at $80,000 after acquiring an additional 525 shares in the last quarter. Fulton Bank N.A. purchased a new stake in shares of Orrstown Financial Services during the third quarter valued at $209,000. SG Americas Securities LLC increased its holdings in Orrstown Financial Services by 65.3% in the 3rd quarter. SG Americas Securities LLC now owns 9,318 shares of the bank’s stock worth $335,000 after buying an additional 3,682 shares in the last quarter. AQR Capital Management LLC purchased a new position in Orrstown Financial Services in the 2nd quarter worth about $1,048,000. Finally, Squarepoint Ops LLC bought a new position in Orrstown Financial Services during the 2nd quarter valued at about $791,000. 44.27% of the stock is owned by hedge funds and other institutional investors.
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.
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