Hovde upgrades Orrstown Financial to 'outperform' following strong start to 2025

ReutersApr 30, 2025 10:24 AM

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Hovde Group upgrades shares of community bank Orrstown Financial Services ORRF.O to "outperform" from "market perform" following a solid start to 2025

Brokerage raises 2025 EPS estimates after solid Q1 results due to a combination of lower bad loan provisions outlook and better expense control than previously estimated

Says management's efforts to reduce risk within its loan portfolio with an eye towards positioning the bank for future growth appear to be paying dividends

Raises PT on ORRF to $35 from $31, a 17.6% upside to stock's last close

Four of 5 brokerages rate the stock "buy" or higher and 1 "hold"; median PT $37 - data compiled by LSEG

As of last close, ORRF stock down 18.7% YTD

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