Research analysts at Boenning Scattergood initiated coverage on shares of Orrstown Financial Services (NASDAQ:ORRF) in a research report issued on Thursday, The Fly reports. The firm set an “outperform” rating on the bank’s stock. Boenning Scattergood also issued estimates for Orrstown Financial Services’ FY2022 earnings at $0.84 EPS.
Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Orrstown Financial Services from a “buy” rating to a “hold” rating in a report on Tuesday. ValuEngine cut shares of Orrstown Financial Services from a “sell” rating to a “strong sell” rating in a report on Monday, August 3rd.
ORRF opened at $12.74 on Thursday. Orrstown Financial Services has a twelve month low of $11.40 and a twelve month high of $23.31. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.14. The company has a fifty day moving average of $14.08 and a 200-day moving average of $13.71. The stock has a market cap of $142.80 million, a PE ratio of 6.25 and a beta of 0.89.
Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.26. The business had revenue of $27.99 million during the quarter, compared to analysts’ expectations of $26.59 million. Orrstown Financial Services had a net margin of 17.66% and a return on equity of 9.65%. Sell-side analysts anticipate that Orrstown Financial Services will post 2.09 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC lifted its stake in shares of Orrstown Financial Services by 9.6% in the second quarter. Nuveen Asset Management LLC now owns 38,199 shares of the bank’s stock valued at $564,000 after buying an additional 3,352 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Orrstown Financial Services by 9.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 25,592 shares of the bank’s stock valued at $378,000 after buying an additional 2,122 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Orrstown Financial Services by 285.1% in the second quarter. Bank of America Corp DE now owns 11,061 shares of the bank’s stock valued at $162,000 after buying an additional 8,189 shares in the last quarter. Bailard Inc. bought a new position in shares of Orrstown Financial Services in the second quarter valued at $150,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Orrstown Financial Services by 8.4% in the second quarter. Goldman Sachs Group Inc. now owns 17,751 shares of the bank’s stock valued at $262,000 after buying an additional 1,378 shares in the last quarter. 41.75% of the stock is currently owned by hedge funds and other institutional investors.
About Orrstown Financial Services
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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