Orrstown Financial Services (NASDAQ:ORRF) Cut to “Market Perform” at Hovde Group

Orrstown Financial Services (NASDAQ:ORRF) was downgraded by stock analysts at Hovde Group from an “outperform” rating to a “market perform” rating in a research report issued on Wednesday,Briefing.com Automated Import reports.

Orrstown Financial Services Trading Up 0.0 %

Shares of Orrstown Financial Services stock opened at $41.14 on Wednesday. Orrstown Financial Services has a 1 year low of $21.47 and a 1 year high of $41.99. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87. The business has a 50 day moving average price of $36.42 and a 200 day moving average price of $31.75. The company has a market capitalization of $796.88 million, a P/E ratio of 22.12 and a beta of 0.89.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings results on Tuesday, October 22nd. The bank reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.19. Orrstown Financial Services had a return on equity of 17.66% and a net margin of 6.63%. The company had revenue of $95.37 million during the quarter, compared to the consensus estimate of $60.90 million. Sell-side analysts anticipate that Orrstown Financial Services will post 4 EPS for the current fiscal year.

Insider Activity

In related news, EVP David Todd Hornberger sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $37.82, for a total transaction of $151,280.00. Following the sale, the executive vice president now owns 20,877 shares in the company, valued at approximately $789,568.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Orrstown Financial Services

Several large investors have recently added to or reduced their stakes in ORRF. EntryPoint Capital LLC acquired a new position in shares of Orrstown Financial Services during the 1st quarter valued at about $31,000. CWM LLC raised its stake in Orrstown Financial Services by 227.9% during the second quarter. CWM LLC now owns 1,692 shares of the bank’s stock worth $46,000 after purchasing an additional 1,176 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Orrstown Financial Services by 92.9% in the 1st quarter. BNP Paribas Financial Markets now owns 5,227 shares of the bank’s stock valued at $140,000 after purchasing an additional 2,518 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Orrstown Financial Services during the 2nd quarter worth $154,000. Finally, Quest Partners LLC acquired a new position in Orrstown Financial Services in the third quarter valued at $155,000. 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.