Zacks Investment Research lowered shares of Orrstown Financial Services (NASDAQ:ORRF) from a buy rating to a hold rating in a report issued on Tuesday morning.

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. “

Several other analysts have also commented on the stock. Boenning Scattergood reaffirmed a hold rating on shares of Orrstown Financial Services in a research report on Thursday, January 25th. ValuEngine raised shares of Orrstown Financial Services from a hold rating to a buy rating in a research report on Sunday, December 31st.

Shares of Orrstown Financial Services (ORRF) opened at $25.00 on Tuesday. The company has a market cap of $209.95 and a P/E ratio of 26.12. 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 has a 12-month low of $19.05 and a 12-month high of $26.95.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings results on Wednesday, January 24th. The bank reported $0.32 EPS for the quarter, missing the Thomson Reuters’ 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 net margin of 11.33% and a return on equity of 7.57%. analysts forecast that Orrstown Financial Services will post 1.4 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Saturday, February 3rd will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Thursday, February 1st. This is a positive change from Orrstown Financial Services’s previous quarterly dividend of $0.07. Orrstown Financial Services’s payout ratio is presently 48.98%.

Hedge funds have recently added to or reduced their stakes in the company. Orrstown Financial Services Inc. raised its position in shares of Orrstown Financial Services by 57,850.0% during the 4th quarter. Orrstown Financial Services Inc. now owns 4,636 shares of the bank’s stock valued at $117,000 after buying an additional 4,628 shares during the period. The Manufacturers Life Insurance Company raised its position in Orrstown Financial Services by 4.7% in the second quarter. The Manufacturers Life Insurance Company now owns 5,281 shares of the bank’s stock valued at $120,000 after purchasing an additional 235 shares during the period. Acadian Asset Management LLC raised its position in Orrstown Financial Services by 110.4% in the fourth quarter. Acadian Asset Management LLC now owns 5,258 shares of the bank’s stock valued at $133,000 after purchasing an additional 2,759 shares during the period. Teachers Advisors LLC raised its position in Orrstown Financial Services by 7.5% in the second quarter. Teachers Advisors LLC now owns 12,604 shares of the bank’s stock valued at $288,000 after purchasing an additional 875 shares during the period. Finally, Macquarie Group Ltd. purchased a new stake in Orrstown Financial Services in the third quarter valued at approximately $292,000. 39.73% 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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