News

Fintel reports that on June 28, 2024, Janney Montgomery Scott initiated coverage of Orrstown Financial Services (NasdaqCM:ORRF) with a Buy recommendation.

Analyst Price Forecast Suggests 16.60% Upside

As of June 12, 2024, the average one-year price target for Orrstown Financial Services is 31.96. The forecasts range from a low of 29.29 to a high of $34.65. The average price target represents an increase of 16.60% from its latest reported closing price of 27.41.

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The projected annual revenue for Orrstown Financial Services is 111MM, a decrease of 14.68%. The projected annual non-GAAP EPS is 3.64.

What is the Fund Sentiment?

There are 207 funds or institutions reporting positions in Orrstown Financial Services. This is an decrease of 1 owner(s) or 0.48% in the last quarter. Average portfolio weight of all funds dedicated to ORRF is 0.05%, an increase of 16.60%. Total shares owned by institutions increased in the last three months by 1.70% to 5,536K shares.

The put/call ratio of ORRF is 2.77, indicating a bearish outlook.

What are Other Shareholders Doing?

Fourthstone holds 491K shares representing 4.58% ownership of the company. In its prior filing, the firm reported owning 228K shares , representing an increase of 53.60%. The firm increased its portfolio allocation in ORRF by 214.55% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 325K shares representing 3.03% ownership of the company. In its prior filing, the firm reported owning 324K shares , representing an increase of 0.14%. The firm decreased its portfolio allocation in ORRF by 17.15% over the last quarter.

IWM - iShares Russell 2000 ETF holds 281K shares representing 2.62% ownership of the company. In its prior filing, the firm reported owning 317K shares , representing a decrease of 12.51%. The firm decreased its portfolio allocation in ORRF by 16.94% over the last quarter.

Pacific Ridge Capital Partners holds 228K shares representing 2.13% ownership of the company. In its prior filing, the firm reported owning 220K shares , representing an increase of 3.75%. The firm increased its portfolio allocation in ORRF by 1.84% over the last quarter.

Geode Capital Management holds 222K shares representing 2.07% ownership of the company. In its prior filing, the firm reported owning 220K shares , representing an increase of 1.18%. The firm decreased its portfolio allocation in ORRF by 18.83% over the last quarter.

Orrstown Financial Services Background Information
(This description is provided by the company.)

With $2.8 billion in assets, Orrstown Financial Services, Inc. and its wholly-owned subsidiary, Orrstown Bank, provides a wide range of consumer and business financial services through banking offices in Berks, Cumberland, Dauphin, Franklin, Lancaster, Perry, and York Counties, Pennsylvania and Anne Arundel, Baltimore, Howard, and Washington Counties, Maryland, as well as Baltimore City, Maryland. Orrstown Bank is an Equal Housing Lender and its deposits are insured up to the legal maximum by the FDIC. Orrstown Financial Services, Inc.’s common stock is traded on Nasdaq (ORRF).

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.