Orrstown Financial Services (NASDAQ:ORRF) Earns Neutral Rating from DA Davidson

Orrstown Financial Services (NASDAQ:ORRF)‘s stock had its “neutral” rating reaffirmed by equities research analysts at DA Davidson in a report issued on Wednesday,Benzinga reports. They currently have a $41.00 price target on the bank’s stock. DA Davidson’s price target points to a potential upside of 0.64% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Raymond James Financial began coverage on Orrstown Financial Services in a report on Thursday, July 9th. They set a “market perform” rating for the company. Weiss Ratings restated a “buy (b)” rating on shares of Orrstown Financial Services in a report on Tuesday, July 7th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.67.

Orrstown Financial Services Stock Performance

Shares of ORRF traded down $0.52 on Wednesday, reaching $40.74. 28,175 shares of the stock traded hands, compared to its average volume of 181,243. Orrstown Financial Services has a 12 month low of $31.51 and a 12 month high of $42.54. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.87 and a quick ratio of 0.87. The stock’s 50-day moving average price is $38.88 and its 200-day moving average price is $37.38. The firm has a market cap of $800.56 million, a price-to-earnings ratio of 9.32 and a beta of 0.70.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.06. The firm had revenue of $64.30 million for the quarter, compared to analyst estimates of $64.10 million. Orrstown Financial Services had a net margin of 23.58% and a return on equity of 14.75%. Equities analysts forecast that Orrstown Financial Services will post 4.29 EPS for the current fiscal year.

Institutional Trading of Orrstown Financial Services

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada lifted its position in shares of Orrstown Financial Services by 5.7% during the 4th quarter. Royal Bank of Canada now owns 4,963 shares of the bank’s stock valued at $176,000 after buying an additional 267 shares during the last quarter. SG Americas Securities LLC raised its stake in Orrstown Financial Services by 5.3% in the 4th quarter. SG Americas Securities LLC now owns 8,797 shares of the bank’s stock valued at $312,000 after acquiring an additional 440 shares during the period. Vista Investment Management boosted its position in Orrstown Financial Services by 5.6% during the second quarter. Vista Investment Management now owns 8,444 shares of the bank’s stock worth $269,000 after purchasing an additional 450 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Orrstown Financial Services by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,009 shares of the bank’s stock worth $330,000 after purchasing an additional 490 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in shares of Orrstown Financial Services by 86.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,748 shares of the bank’s stock worth $56,000 after purchasing an additional 810 shares in the last quarter. Institutional investors own 44.27% of the company’s stock.

About Orrstown Financial Services

Orrstown Financial Services, Inc is the bank holding company for Orrstown Bank, a community banking organization headquartered in Shippensburg, Pennsylvania. The roots of Orrstown Bank date back to 1865, and the holding company structure was established to support its growth and diversification. As a regional financial institution, Orrstown Financial Services focuses on delivering personalized banking solutions to individuals, families and businesses across Central Pennsylvania.

The company’s core offerings include a full suite of deposit products such as checking and savings accounts, money market accounts and certificates of deposit.