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

Orrstown Financial Services

30/04/2025 11:24

** 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

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))