Orrstown Financial Services (ORRF) Sets New 1-Year Low at $19.75

Orrstown Financial Services, Inc. (NASDAQ:ORRF)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $19.75 and last traded at $19.75, with a volume of 267 shares traded. The stock had previously closed at $20.05.

ORRF has been the topic of a number of research reports. Boenning Scattergood restated a “hold” rating on shares of Orrstown Financial Services in a report on Thursday, October 18th. Zacks Investment Research downgraded Orrstown Financial Services from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $29.67.

The firm has a market capitalization of $186.49 million, a P/E ratio of 15.23 and a beta of 0.47. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.57.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings data on Wednesday, October 17th. The bank reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. Orrstown Financial Services had a return on equity of 9.89% and a net margin of 14.34%. The firm had revenue of $18.20 million for the quarter, compared to the consensus estimate of $17.87 million. As a group, equities research analysts forecast that Orrstown Financial Services, Inc. will post 1.81 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in Orrstown Financial Services by 0.8% in the third quarter. BlackRock Inc. now owns 538,550 shares of the bank’s stock worth $12,818,000 after buying an additional 4,141 shares during the last quarter. Deprince Race & Zollo Inc. boosted its position in Orrstown Financial Services by 20.9% during the third quarter. Deprince Race & Zollo Inc. now owns 342,755 shares of the bank’s stock worth $8,158,000 after purchasing an additional 59,328 shares during the period. Renaissance Technologies LLC boosted its position in Orrstown Financial Services by 34.7% during the second quarter. Renaissance Technologies LLC now owns 279,900 shares of the bank’s stock worth $7,277,000 after purchasing an additional 72,100 shares during the period. Dimensional Fund Advisors LP boosted its position in Orrstown Financial Services by 23.5% during the third quarter. Dimensional Fund Advisors LP now owns 143,622 shares of the bank’s stock worth $3,418,000 after purchasing an additional 27,346 shares during the period. Finally, EJF Capital LLC boosted its position in Orrstown Financial Services by 36.6% during the third quarter. EJF Capital LLC now owns 100,432 shares of the bank’s stock worth $2,390,000 after purchasing an additional 26,932 shares during the period. Hedge funds and other institutional investors own 38.15% of the company’s stock.

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About Orrstown Financial Services (NASDAQ:ORRF)

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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