BUZZ-DA Davidson starts Orrstown Financial coverage with 'neutral'

Orrstown Financial Services, Inc.

ORRF

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** Brokerage DA Davidson initiates coverage on lender Orrstown Financial Services ORRF.O with a "neutral" rating and $41 PT

** ORRF operates a traditional community bank business model with a strong core deposit franchise, diversified loan portfolio and stable credit quality, brokerage says

** Earlier this month, the company announced that current COO Adam Metz will take over as CEO on June 1 following Tom Quinn’s retirement, a transition which brokerage does not expect to result in a significant shift in strategy

** Three of three analyst rate the stock "buy"; their median PT is $42 - data compiled by LSEG

** As of last close, stock up 1.7% YTD

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