Orrstown Financial Services (NASDAQ:ORRF) upgraded to Strong-Buy on StockNews.com

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Orrstown Financial Services (NASDAQ:ORRF – Get an Assessment) was upgraded by StockNews.com equity researchers from a “buy” rating to a “strong buy” rating in a report released Friday.

Orrstown Financial Services Stock Performance

NASDAQ ORRF opened at $24.96 on Friday. The company has a debt ratio of 0.13, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $266.47 million, a price/earnings ratio of 8.79 and a beta of 0.80. The company’s fifty-day moving average is $25.61 and its two-hundred-day moving average is $24.44. Orrstown Financial Services has a 52-week low of $21.81 and a 52-week high of $27.37.

Orrstown Financial Services (NASDAQ:ORRF – Get Rating) last released quarterly earnings data on Tuesday, July 19. The bank reported EPS of $0.83 for the quarter, beating analyst consensus estimates of $0.67 by $0.16. The company posted revenue of $31.31 million in the quarter, versus a consensus estimate of $29.24 million. Orrstown Financial Services posted a net margin of 24.94% and a return on equity of 12.06%.

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Separately, director Andrea L. Pugh sold 2,447 shares of the company in a trade dated Wednesday, August 24. The shares were sold at an average price of $25.64, for a total transaction of $62,741.08. Following completion of the transaction, the administrator now directly owns 25,531 shares of the company, valued at approximately $654,614.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. In the past three months, insiders have sold 3,347 shares of the company valued at $85,967. Insiders of the company hold 4.83% of the shares of the company.

Hedge funds weigh on Orrstown financial services

Several institutional investors have recently increased or reduced their stake in the company. Goldman Sachs Group Inc. increased its stake in Orrstown Financial Services by 530.1% during the second quarter. Goldman Sachs Group Inc. now owns 67,655 shares of the bank valued at $1,635,000 after buying an additional 56,917 shares in the last quarter. State Street Corp increased its stake in Orrstown Financial Services by 4.4% during the second quarter. State Street Corp now owns 214,663 shares of the bank valued at $5,188,000 after buying 9,077 additional shares in the last quarter. FMR LLC increased its stake in Orrstown Financial Services by 1.6% during the 2nd quarter. FMR LLC now owns 443,752 shares of the bank valued at $10,725,000 after purchasing an additional 6,788 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Orrstown Financial Services by 70.0% in the second quarter. BNP Paribas Arbitrage SA now owns 4,793 shares in the bank valued at $116,000 after buying an additional 1,974 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Orrstown Financial Services by 17.2% during the 2nd quarter. Rhumbline Advisers now owns 14,764 shares of the bank valued at $357,000 after buying 2,168 additional shares in the last quarter. 43.81% of the shares are held by institutional investors.

Orrstown Financial Services Company Profile

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Orrstown Financial Services, Inc operates as a holding company for Orrstown Bank which provides commercial banking and trust services in the United States. The Company accepts a variety of deposits including checking, savings, term, demand and money market deposits. It also offers commercial loans, such as commercial real estate loans, equipment, buildings, working capital and other loans for commercial purposes, as well as industrial loans; consumer loans including home equity and other consumer loans, as well as home equity lines of credit; residential mortgages; acquisition and development loans; municipal loans; and installment and other loans.

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