Orrstown Financial Services (NASDAQ:ORRF) Downgraded by Wall Street Zen to “Hold”

Orrstown Financial Services (NASDAQ:ORRF) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

ORRF has been the subject of several other reports. Hovde Group upped their price objective on shares of Orrstown Financial Services from $35.00 to $37.00 and gave the stock an “outperform” rating in a report on Wednesday, May 14th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $42.00 price objective (up from $39.00) on shares of Orrstown Financial Services in a report on Thursday, July 24th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.25.

Orrstown Financial Services Trading Down 1.7%

Shares of ORRF opened at $33.31 on Friday. The stock has a market capitalization of $649.21 million, a P/E ratio of 14.87 and a beta of 0.83. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $32.56 and a two-hundred day simple moving average of $31.35. Orrstown Financial Services has a twelve month low of $25.57 and a twelve month high of $41.99.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings data on Tuesday, July 22nd. The bank reported $1.04 EPS for the quarter, topping the consensus estimate of $0.99 by $0.05. Orrstown Financial Services had a net margin of 11.97% and a return on equity of 14.69%. The business had revenue of $62.43 million during the quarter, compared to analyst estimates of $51.98 million. On average, research analysts anticipate that Orrstown Financial Services will post 4.23 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Millennium Management LLC bought a new position in shares of Orrstown Financial Services in the 4th quarter worth about $5,404,000. GAMMA Investing LLC increased its stake in shares of Orrstown Financial Services by 3,994.9% in the 1st quarter. GAMMA Investing LLC now owns 4,832 shares of the bank’s stock worth $161,000 after acquiring an additional 4,714 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Orrstown Financial Services in the 4th quarter worth about $833,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Orrstown Financial Services by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,519 shares of the bank’s stock worth $385,000 after acquiring an additional 456 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Orrstown Financial Services by 198.8% in the 1st quarter. SG Americas Securities LLC now owns 24,399 shares of the bank’s stock worth $732,000 after acquiring an additional 16,232 shares in the last quarter. 44.27% of the stock is currently owned by institutional investors.

About Orrstown Financial Services

Orrstown Financial Services, Inc operates as the financial holding company for Orrstown Bank that provides commercial banking and financial advisory services to retail, commercial, non-profit, and government clients in the United States. It accepts various deposits, including checking, savings, time, demand, and money market deposits, as well as certificates of deposit.