Zacks: Orrstown Financial Services Inc. (NASDAQ:ORRF) Given Average Rating of “Hold” by Analysts
Shares of Orrstown Financial Services Inc. (NASDAQ:ORRF) have been assigned an average broker rating score of 3.00 (Hold) from the two analysts that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold rating. Orrstown Financial Services’ rating score has declined by 200% from 90 days ago as a result of a number of analysts’ ratings changes.
Zacks has also given Orrstown Financial Services an industry rank of 169 out of 265 based on the ratings given to its competitors.
A number of research analysts have commented on the stock. Keefe, Bruyette & Woods cut shares of Orrstown Financial Services from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $21.50 to $23.00 in a research note on Monday, September 12th. Boenning Scattergood cut shares of Orrstown Financial Services from an “outperform” rating to a “neutral” rating in a research note on Friday, September 30th. Finally, Zacks Investment Research upgraded shares of Orrstown Financial Services from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Tuesday, August 2nd.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/07/zacks-orrstown-financial-services-inc-nasdaqorrf-given-average-rating-of-hold-by-analysts.html
Hedge funds and other institutional investors have recently bought and sold shares of the stock. RMB Capital Management LLC boosted its position in Orrstown Financial Services by 30.2% in the second quarter. RMB Capital Management LLC now owns 376,059 shares of the company’s stock worth $6,788,000 after buying an additional 87,187 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in Orrstown Financial Services by 24.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 232,054 shares of the company’s stock worth $4,189,000 after buying an additional 45,391 shares during the period. BlackRock Fund Advisors boosted its position in Orrstown Financial Services by 680.6% in the second quarter. BlackRock Fund Advisors now owns 197,847 shares of the company’s stock worth $3,571,000 after buying an additional 172,501 shares during the period. Renaissance Technologies LLC boosted its position in Orrstown Financial Services by 5.0% in the first quarter. Renaissance Technologies LLC now owns 129,700 shares of the company’s stock worth $2,246,000 after buying an additional 6,200 shares during the period. Finally, Bridgeway Capital Management Inc. boosted its position in Orrstown Financial Services by 89.6% in the second quarter. Bridgeway Capital Management Inc. now owns 63,500 shares of the company’s stock worth $1,146,000 after buying an additional 30,000 shares during the period. Institutional investors own 41.11% of the company’s stock.
Orrstown Financial Services (NASDAQ:ORRF) traded up 0.25% during mid-day trading on Friday, hitting $19.89. The stock had a trading volume of 529 shares. Orrstown Financial Services has a one year low of $16.51 and a one year high of $23.73. The company has a market cap of $164.69 million, a PE ratio of 22.60 and a beta of 0.32. The firm’s 50-day moving average price is $20.96 and its 200 day moving average price is $19.14.
Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by $0.13. Orrstown Financial Services had a return on equity of 5.24% and a net margin of 12.11%. On average, equities research analysts anticipate that Orrstown Financial Services will post $0.88 EPS for the current year.
About Orrstown Financial Services
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Orrstown Financial Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Orrstown Financial Services Inc. and related companies with MarketBeat.com's FREE daily email newsletter.