Orrstown Financial Services (NASDAQ:ORRF – Get an Assessment) was upgraded by StockNews.com analysts from a “buy” rating to a “strong buy” rating in a note released Wednesday to investors.
Orrstown Financial Services Stock Up 0.2%
NASDAQ:ORRF opened Wednesday at $25.81. The company’s 50-day simple moving average is $25.81 and its 200-day simple moving average is $24.51. The company has a debt ratio of 0.13, a current ratio of 0.85 and a quick ratio of 0.85. Orrstown Financial Services has a one-year low of $21.81 and a one-year high of $27.37. The company has a market capitalization of $275.55 million, a PE ratio of 9.09 and a beta of 0.80.
Orrstown Financial Services (NASDAQ:ORRF – Get Rating) last reported results on Tuesday, July 19. The bank reported EPS of $0.83 for the quarter, beating the consensus estimate of $0.67 by $0.16. Orrstown Financial Services posted a net margin of 24.94% and a return on equity of 12.06%. The company posted revenue of $31.31 million for the quarter, versus a consensus estimate of $29.24 million.
Insider buying and selling
In other Orrstown Financial Services news, Director Andrea L. Pugh sold 2,447 shares of the company in a trade that took place on 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 owns 25,531 shares of the company, valued at approximately $654,614.84. The transaction was disclosed in a document filed with the SEC, which can be accessed on the SEC’s website. 4.83% of the shares are held by company insiders.
Institutional entries and exits
Hedge funds have recently increased or reduced their stakes in the company. Amalgamated Bank bought a new position in Orrstown Financial Services during Q1 worth around $30,000. Gladius Capital Management LP purchased a new equity stake in Orrstown Financial Services in Q2 for $58,000. SG Americas Securities LLC bought a new stake in shares of Orrstown Financial Services in Q2 valued at $107,000. BNP Paribas Arbitrage SA increased its stake in Orrstown Financial Services shares by 70.0% in the second quarter. BNP Paribas Arbitrage SA now owns 4,793 shares in the bank valued at $116,000 after acquiring an additional 1,974 shares last quarter. Finally, MetLife Investment Management LLC increased its stake in the shares of Orrstown Financial Services by 57.0% in the 1st quarter. MetLife Investment Management LLC now owns 6,252 shares of the bank valued at $143,000 after acquiring 2,270 additional shares last quarter. Institutional investors hold 43.81% of the company’s shares.
Orrstown Financial Services Company Profile
(Get a rating)
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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