Orrstown Financial Services (NASDAQ:ORRF) Rating Increased to Strong-Buy at StockNews.com

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

Orrstown Financial Services Price Performance

Shares of NASDAQ ORRF opened at $25.48 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $272.13 million, a PE ratio of 8.97 and a beta of 0.80. The business has a 50-day simple moving average of $25.63 and a two-hundred day simple moving average of $24.45. Orrstown Financial Services has a fifty-two week low of $21.81 and a fifty-two week high of $27.37.

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

Insider Transactions at Orrstown Financial Services

In other news, Director Andrea L. Pugh sold 2,447 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $25.64, for a total value of $62,741.08. Following the completion of the transaction, the director now directly owns 25,531 shares in the company, valued at $654,614.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 3,347 shares of company stock worth $85,967 over the last three months. 4.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ORRF. Amalgamated Bank purchased a new position in Orrstown Financial Services during the first quarter valued at approximately $30,000. Gladius Capital Management LP purchased a new position in Orrstown Financial Services during the second quarter valued at approximately $58,000. SG Americas Securities LLC purchased a new position in Orrstown Financial Services during the second quarter valued at approximately $107,000. BNP Paribas Arbitrage SA raised its position in Orrstown Financial Services by 70.0% during the second quarter. BNP Paribas Arbitrage SA now owns 4,793 shares of the bank’s stock valued at $116,000 after acquiring an additional 1,974 shares in the last quarter. Finally, MetLife Investment Management LLC raised its position in Orrstown Financial Services by 57.0% during the first quarter. MetLife Investment Management LLC now owns 6,252 shares of the bank’s stock valued at $143,000 after acquiring an additional 2,270 shares in the last quarter. 43.81% of the stock is currently owned by hedge funds and other institutional investors.

Orrstown Financial Services Company Profile

(Get Rating)

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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