Orrstown Financial Services' (ORRF) "Hold (C+)" Rating Reiterated at Weiss Ratings

Key Points

• Orrstown Financial Services' stock has been given a "Hold (C+)" rating by Weiss Ratings, with additional downgrades from Zacks Research and Wall Street Zen.
• The stock price is currently around $33.63 with a recent 0.2% decline, and it has a consensus price target of $39.25 from analysts.
• Recent hedge fund activity includes significant increases in positions, with PNC Financial Services Group growing its stake by 370.7% during the second quarter.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report)'s stock had its "hold (c+)" rating reissued by equities researchers at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other brokerages also recently commented on ORRF. Zacks Research downgraded Orrstown Financial Services from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 3rd. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $42.00 price target (up from $39.00) on shares of Orrstown Financial Services in a research report on Thursday, July 24th. Finally, Wall Street Zen downgraded Orrstown Financial Services from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.25.

Orrstown Financial Services Stock Down 0.2%

ORRF stock opened at $33.63 on Wednesday. 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 market capitalization of $655.48 million, a PE ratio of 15.01 and a beta of 0.83. The stock's 50 day moving average is $34.07 and its 200-day moving average is $31.75. Orrstown Financial Services has a twelve month low of $25.57 and a twelve month high of $41.99.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The bank reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $0.99 by $0.05. The company had revenue of $62.43 million during the quarter, compared to the consensus estimate of $51.98 million. Orrstown Financial Services had a return on equity of 14.69% and a net margin of 11.97%. Sell-side analysts expect that Orrstown Financial Services will post 4.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Orrstown Financial Services

Hedge funds have recently made changes to their positions in the stock. Caldwell Trust Co purchased a new position in Orrstown Financial Services during the second quarter worth about $25,000. Raymond James Financial Inc. purchased a new position in Orrstown Financial Services during the second quarter worth about $45,000. Tower Research Capital LLC TRC grew its position in Orrstown Financial Services by 86.4% during the second quarter. Tower Research Capital LLC TRC now owns 1,748 shares of the bank's stock worth $56,000 after buying an additional 810 shares in the last quarter. CWM LLC grew its position in Orrstown Financial Services by 36.9% during the second quarter. CWM LLC now owns 2,417 shares of the bank's stock worth $77,000 after buying an additional 651 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Orrstown Financial Services by 370.7% during the second quarter. PNC Financial Services Group Inc. now owns 4,528 shares of the bank's stock worth $144,000 after buying an additional 3,566 shares in the last quarter. 44.27% of the stock is currently owned by hedge funds and other institutional investors.

Orrstown Financial Services Company Profile

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.

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