Orrstown Financial Services (NASDAQ:ORRF) Reaches New 1-Year High – Still a Buy?

Orrstown Financial Services, Inc. (NASDAQ:ORRF)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $37.86 and last traded at $37.26, with a volume of 56930 shares traded. The stock had previously closed at $37.74.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ORRF shares. Janney Montgomery Scott started coverage on shares of Orrstown Financial Services in a report on Friday, June 28th. They set a “buy” rating and a $32.00 price target for the company. Hovde Group boosted their price target on Orrstown Financial Services from $33.00 to $37.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th.

Orrstown Financial Services Stock Down 1.3 %

The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $721.73 million, a PE ratio of 11.87 and a beta of 0.90. The stock has a 50-day simple moving average of $34.97 and a 200-day simple moving average of $30.09.

Orrstown Financial Services (NASDAQ:ORRF) last posted its earnings results on Tuesday, July 23rd. The bank reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.10. The business had revenue of $50.45 million for the quarter, compared to analysts’ expectations of $31.60 million. Orrstown Financial Services had a net margin of 17.26% and a return on equity of 13.45%. Analysts forecast that Orrstown Financial Services, Inc. will post 3.61 EPS for the current year.

Institutional Investors Weigh In On Orrstown Financial Services

Large investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd bought a new stake in shares of Orrstown Financial Services in the 4th quarter worth approximately $234,000. BNP Paribas Financial Markets boosted its position in Orrstown Financial Services by 92.9% during the first 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 during the period. Empowered Funds LLC grew its stake in shares of Orrstown Financial Services by 7.7% during the first quarter. Empowered Funds LLC now owns 22,092 shares of the bank’s stock valued at $591,000 after buying an additional 1,575 shares during the last quarter. Pacific Ridge Capital Partners LLC increased its holdings in shares of Orrstown Financial Services by 3.9% in the first quarter. Pacific Ridge Capital Partners LLC now owns 228,449 shares of the bank’s stock worth $6,116,000 after buying an additional 8,564 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Orrstown Financial Services by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 547,755 shares of the bank’s stock valued at $14,663,000 after acquiring an additional 5,332 shares during 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.