Zacks Investment Research Lowers Orrstown Financial Services (ORRF) to Strong Sell

Orrstown Financial Services (NASDAQ:ORRF) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday.

According to Zacks, “Orrstown Financial Services, Inc. is a financial holding company. The Company’s primary activity consists of owning and supervising its subsidiary, Orrstown Bank, that is engaged in providing banking and bank related services. The Bank provides these services in south central Pennsylvania, principally Franklin, Perry and Cumberland Counties in Pennsylvania and in Washington County, Maryland. The Company’s subsidiary is The First National Bank of Newport. The day-to-day management of the Bank is conducted by the subsidiary’s officers. “

Other analysts also recently issued research reports about the stock. ValuEngine raised shares of Orrstown Financial Services from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Boenning Scattergood reissued a “hold” rating on shares of Orrstown Financial Services in a research report on Thursday, January 25th.

Shares of Orrstown Financial Services (ORRF) opened at $25.20 on Wednesday. The stock has a market cap of $212.04, a P/E ratio of 25.71 and a beta of 0.41. Orrstown Financial Services has a 1 year low of $19.05 and a 1 year high of $26.95. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.44.

Orrstown Financial Services (NASDAQ:ORRF) last posted its earnings results on Wednesday, January 24th. The bank reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.04). The business had revenue of $16.51 million for the quarter, compared to analyst estimates of $17.08 million. Orrstown Financial Services had a return on equity of 7.57% and a net margin of 11.33%. analysts expect that Orrstown Financial Services will post 1.4 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in Orrstown Financial Services by 0.7% in the 4th quarter. BlackRock Inc. now owns 524,850 shares of the bank’s stock worth $13,253,000 after acquiring an additional 3,602 shares during the period. Renaissance Technologies LLC boosted its holdings in Orrstown Financial Services by 10.3% in the 4th quarter. Renaissance Technologies LLC now owns 214,127 shares of the bank’s stock worth $5,407,000 after acquiring an additional 20,027 shares during the period. State Street Corp boosted its holdings in Orrstown Financial Services by 7.0% in the 2nd quarter. State Street Corp now owns 102,012 shares of the bank’s stock worth $2,330,000 after acquiring an additional 6,696 shares during the period. Wells Fargo & Company MN boosted its holdings in Orrstown Financial Services by 23.6% in the 4th quarter. Wells Fargo & Company MN now owns 98,891 shares of the bank’s stock worth $2,497,000 after acquiring an additional 18,914 shares during the period. Finally, Pacific Ridge Capital Partners LLC boosted its holdings in Orrstown Financial Services by 3.2% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 92,633 shares of the bank’s stock worth $2,339,000 after acquiring an additional 2,840 shares during the period. Hedge funds and other institutional investors own 41.28% of the company’s stock.

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Orrstown Financial Services Company Profile

Orrstown Financial Services, Inc is the bank holding company for Orrstown Bank (the Bank). The Bank is engaged in commercial banking and trust business. The Company operates through Community Banking segment. The Bank’s activities involve accepting demand, time and savings deposits, and granting loans.

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