Zacks Investment Research cut shares of Orrstown Financial Services (NASDAQ:ORRF) from a hold rating to a strong sell rating in a research note released 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 equities analysts also recently issued reports about the stock. Boenning Scattergood reaffirmed a hold rating on shares of Orrstown Financial Services in a report on Friday, October 27th. ValuEngine raised shares of Orrstown Financial Services from a hold rating to a buy rating in a report on Friday, February 2nd.
Shares of Orrstown Financial Services (NASDAQ:ORRF) opened at $25.20 on Wednesday. The company has a market cap of $210.37, a price-to-earnings ratio of 19.39 and a beta of 0.41. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.76 and a current ratio of 0.76. Orrstown Financial Services has a one year low of $19.05 and a one year high of $26.95.
Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings data 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 firm had revenue of $16.51 million for the quarter, compared to analysts’ expectations of $17.08 million. Orrstown Financial Services had a return on equity of 7.57% and a net margin of 11.33%. equities research analysts forecast that Orrstown Financial Services will post 1.4 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Saturday, February 3rd were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.90%. This is an increase from Orrstown Financial Services’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Thursday, February 1st. Orrstown Financial Services’s payout ratio is currently 48.98%.
A number of institutional investors and hedge funds have recently bought and sold shares of ORRF. Wells Fargo & Company MN boosted its holdings in Orrstown Financial Services by 1.5% during the 2nd quarter. Wells Fargo & Company MN now owns 89,892 shares of the bank’s stock worth $2,055,000 after acquiring an additional 1,310 shares during the last quarter. Teachers Advisors LLC boosted its holdings in Orrstown Financial Services by 7.5% during the 2nd quarter. Teachers Advisors LLC now owns 12,604 shares of the bank’s stock worth $288,000 after acquiring an additional 875 shares during the last quarter. TIAA CREF Investment Management LLC boosted its holdings in Orrstown Financial Services by 2.5% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 20,938 shares of the bank’s stock worth $478,000 after acquiring an additional 513 shares during the last quarter. Northern Trust Corp boosted its holdings in Orrstown Financial Services by 1.8% during the 2nd quarter. Northern Trust Corp now owns 77,865 shares of the bank’s stock worth $1,779,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Orrstown Financial Services by 11.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 20,696 shares of the bank’s stock worth $473,000 after acquiring an additional 2,188 shares during the last quarter. 41.28% of the stock is currently owned by hedge funds and other institutional investors.
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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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