Zacks Investment Research upgraded shares of Orrstown Financial Services (NASDAQ:ORRF) from a sell rating to a hold rating in a research report report published 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. “

Separately, ValuEngine raised shares of Orrstown Financial Services from a sell rating to a hold rating in a report on Wednesday, February 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $26.33.

Orrstown Financial Services stock opened at $19.87 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.81 and a current ratio of 0.82. The company has a market cap of $186.42 million, a P/E ratio of 10.98 and a beta of 0.63. Orrstown Financial Services has a 1-year low of $17.30 and a 1-year high of $27.05.

Orrstown Financial Services (NASDAQ:ORRF) last posted its earnings results on Wednesday, January 23rd. The bank reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.10). The firm had revenue of $19.78 million for the quarter, compared to the consensus estimate of $20.21 million. Orrstown Financial Services had a return on equity of 9.91% and a net margin of 14.77%. Research analysts expect that Orrstown Financial Services will post 1.7 EPS for the current year.

Large investors have recently modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of Orrstown Financial Services in the 4th quarter worth $88,000. Bank of America Corp DE increased its holdings in shares of Orrstown Financial Services by 20.5% in the 4th quarter. Bank of America Corp DE now owns 6,909 shares of the bank’s stock worth $127,000 after buying an additional 1,177 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Orrstown Financial Services by 39.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 7,853 shares of the bank’s stock worth $143,000 after buying an additional 2,207 shares during the last quarter. Rhumbline Advisers bought a new position in shares of Orrstown Financial Services in the 4th quarter worth $189,000. Finally, Globeflex Capital L P bought a new position in shares of Orrstown Financial Services in the 4th quarter worth $220,000. 38.66% of the stock is currently owned by hedge funds and other institutional investors.

About Orrstown Financial Services

Orrstown Financial Services, Inc operates as the holding company for Orrstown Bank that provides commercial banking and trust services in the United States. The company accepts various deposits, including checking, savings, time, demand, and money market deposits. It also offers commercial loans, such as commercial real estate, equipment, working capital, and other commercial purpose loans; consumer loans comprising home equity and other consumer loans, as well as home equity lines of credit; residential mortgage loans; agribusiness loans; acquisition and development loans; municipal loans; and installment and other loans.

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