Emerald Advisers Inc. PA cut its stake in Orrstown Financial Services Inc. (NASDAQ:ORRF) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,999 shares of the company’s stock after selling 1,041 shares during the period. Emerald Advisers Inc. PA’s holdings in Orrstown Financial Services were worth $4,007,000 at the end of the most recent reporting period.
Separately, BlackRock Fund Advisors raised its position in shares of Orrstown Financial Services by 1.2% in the first quarter. BlackRock Fund Advisors now owns 25,346 shares of the company’s stock valued at $439,000 after buying an additional 308 shares during the last quarter. 41.11% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Orrstown Financial Services Inc. (NASDAQ:ORRF) traded down 0.30% during mid-day trading on Friday, hitting $19.78. The stock had a trading volume of 9,727 shares. The firm has a market cap of $163.78 million, a PE ratio of 22.48 and a beta of 0.32. Orrstown Financial Services Inc. has a 52-week low of $16.51 and a 52-week high of $23.73. The stock’s 50-day moving average price is $20.97 and its 200-day moving average price is $19.16.
Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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, analysts anticipate that Orrstown Financial Services Inc. will post $0.88 earnings per share for the current fiscal year.
Several brokerages have issued reports on ORRF. Zacks Investment Research lowered Orrstown Financial Services from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 30th. Keefe, Bruyette & Woods increased their price target on Orrstown Financial Services from $20.50 to $21.50 and gave the stock an “outperform” rating in a report on Friday, July 29th. Finally, Boenning Scattergood lowered Orrstown Financial Services from an “outperform” rating to a “neutral” rating in a report on Friday, September 30th.
Orrstown Financial Services Company Profile
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.