Orrstown Financial Services (NASDAQ:ORRF) Rating Lowered to Buy at StockNews.com

Orrstown Financial Services (NASDAQ:ORRFGet Rating) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.

Orrstown Financial Services Trading Down 0.4 %

Shares of ORRF opened at $25.33 on Thursday. Orrstown Financial Services has a 12-month low of $21.81 and a 12-month high of $27.37. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $270.42 million, a price-to-earnings ratio of 9.04 and a beta of 0.81. The stock’s 50-day moving average price is $25.52 and its 200 day moving average price is $24.42.

Orrstown Financial Services (NASDAQ:ORRFGet Rating) last released its quarterly earnings data on Tuesday, July 19th. The bank reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.16. The company had revenue of $31.31 million for the quarter, compared to the consensus estimate of $29.24 million. Orrstown Financial Services had a return on equity of 12.06% and a net margin of 24.94%.

Insider Buying and Selling at Orrstown Financial Services

In other Orrstown Financial Services news, Director Andrea L. Pugh sold 2,447 shares of Orrstown Financial Services stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $25.64, for a total transaction of $62,741.08. Following the sale, the director now directly owns 25,531 shares of the company’s stock, valued at $654,614.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 3,347 shares of company stock valued at $85,967. 4.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA boosted its holdings in shares of Orrstown Financial Services by 70.1% in the 4th quarter. BNP Paribas Arbitrage SA now owns 5,318 shares of the bank’s stock worth $134,000 after acquiring an additional 2,192 shares in the last quarter. Bailard Inc. boosted its holdings in shares of Orrstown Financial Services by 8.7% in the 4th quarter. Bailard Inc. now owns 13,745 shares of the bank’s stock worth $346,000 after acquiring an additional 1,100 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Orrstown Financial Services during the 1st quarter worth $212,000. RKL Wealth Management LLC acquired a new position in Orrstown Financial Services during the 1st quarter worth $211,000. Finally, Amalgamated Bank acquired a new position in Orrstown Financial Services during the 1st quarter worth $30,000. 43.81% of the stock is owned by institutional investors and hedge funds.

About Orrstown Financial Services

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Orrstown Financial Services, Inc operates as the holding company for Orrstown Bank that provides commercial banking and trust services in the United States. The company accepts various deposits, including checking, savings, time, demand, and money market deposits. It also offers commercial loans, such as commercial real estate, equipment, construction, working capital, and other commercial purpose loans, as well as industrial loans; consumer loans comprising home equity and other consumer loans, as well as home equity lines of credit; residential mortgage loans; acquisition and development loans; municipal loans; and installment and other loans.

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