Orrstown Financial Services, Inc. (NASDAQ:ORRF) – Stock analysts at Piper Sandler raised their Q4 2021 earnings per share estimates for shares of Orrstown Financial Services in a research report issued on Monday, September 28th. Piper Sandler analyst C. Whitman now forecasts that the bank will earn $0.42 per share for the quarter, up from their prior estimate of $0.38. Piper Sandler currently has a “Neutral” rating and a $13.50 target price on the stock.
ORRF has been the topic of a number of other reports. ValuEngine downgraded shares of Orrstown Financial Services from a “sell” rating to a “strong sell” rating in a research report on Monday, August 3rd. Boenning Scattergood initiated coverage on shares of Orrstown Financial Services in a research report on Thursday, September 24th. They issued an “outperform” rating on the stock. Finally, Zacks Investment Research downgraded shares of Orrstown Financial Services from a “buy” rating to a “hold” rating in a research report on Tuesday, September 22nd.
Shares of Orrstown Financial Services stock opened at $12.80 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.14. The company’s fifty day simple moving average is $13.93 and its two-hundred day simple moving average is $13.60. The company has a market cap of $143.48 million, a P/E ratio of 6.27 and a beta of 0.89. Orrstown Financial Services has a 12-month low of $11.40 and a 12-month high of $23.31.
Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.26. The business had revenue of $27.99 million for the quarter, compared to the consensus estimate of $26.59 million. Orrstown Financial Services had a net margin of 17.66% and a return on equity of 9.65%.
Several large investors have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC grew its position in Orrstown Financial Services by 9.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 38,199 shares of the bank’s stock valued at $564,000 after purchasing an additional 3,352 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Orrstown Financial Services by 9.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 25,592 shares of the bank’s stock worth $378,000 after purchasing an additional 2,122 shares during the period. Bank of America Corp DE lifted its stake in shares of Orrstown Financial Services by 285.1% in the 2nd quarter. Bank of America Corp DE now owns 11,061 shares of the bank’s stock worth $162,000 after purchasing an additional 8,189 shares during the period. Bailard Inc. bought a new position in shares of Orrstown Financial Services in the 2nd quarter worth approximately $150,000. Finally, Goldman Sachs Group Inc. raised its stake in Orrstown Financial Services by 8.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 17,751 shares of the bank’s stock worth $262,000 after acquiring an additional 1,378 shares during the period. 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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