Orrstown Financial Services, Inc. (NASDAQ:ORRF) Shares Sold by Deprince Race & Zollo Inc.

Deprince Race & Zollo Inc. lessened its position in Orrstown Financial Services, Inc. (NASDAQ:ORRF) by 14.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 294,155 shares of the bank’s stock after selling 48,600 shares during the period. Deprince Race & Zollo Inc. owned 3.12% of Orrstown Financial Services worth $5,357,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ORRF. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Orrstown Financial Services in the fourth quarter worth approximately $88,000. Bank of America Corp DE lifted its holdings in shares of Orrstown Financial Services by 20.5% in the fourth quarter. Bank of America Corp DE now owns 6,909 shares of the bank’s stock valued at $127,000 after purchasing an additional 1,177 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Orrstown Financial Services by 39.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 7,853 shares of the bank’s stock valued at $143,000 after purchasing an additional 2,207 shares in the last quarter. Rhumbline Advisers bought a new position in shares of Orrstown Financial Services in the fourth quarter valued at approximately $189,000. Finally, Globeflex Capital L P bought a new position in shares of Orrstown Financial Services in the fourth quarter valued at approximately $220,000. 38.68% of the stock is owned by institutional investors and hedge funds.

A number of research firms have recently weighed in on ORRF. Sandler O’Neill lowered Orrstown Financial Services from a “buy” rating to a “hold” rating and dropped their target price for the company from $22.00 to $21.50 in a report on Friday, March 29th. Zacks Investment Research raised Orrstown Financial Services from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th. Finally, ValuEngine downgraded Orrstown Financial Services from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Orrstown Financial Services has a consensus rating of “Hold” and a consensus price target of $25.13.

NASDAQ:ORRF traded up $0.75 during trading hours on Friday, reaching $20.00. The stock had a trading volume of 19,963 shares, compared to its average volume of 18,152. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.82 and a quick ratio of 0.81. Orrstown Financial Services, Inc. has a 12-month low of $17.30 and a 12-month high of $27.05. The company has a market capitalization of $189.64 million, a P/E ratio of 11.05 and a beta of 0.62.

Orrstown Financial Services (NASDAQ:ORRF) last released its earnings results on Wednesday, January 23rd. The bank reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.10). The firm had revenue of $19.78 million during the quarter, compared to analysts’ expectations of $20.21 million. Orrstown Financial Services had a return on equity of 9.91% and a net margin of 14.77%. As a group, analysts anticipate that Orrstown Financial Services, Inc. will post 1.7 earnings per share for the current year.

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Orrstown Financial Services Profile

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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Institutional Ownership by Quarter for Orrstown Financial Services (NASDAQ:ORRF)

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