Orrstown Financial Services, Inc. (NASDAQ:ORRF) – Investment analysts at Piper Sandler issued their Q2 2020 EPS estimates for Orrstown Financial Services in a report issued on Monday, June 29th. Piper Sandler analyst C. Whitman expects that the bank will earn $0.34 per share for the quarter. Piper Sandler also issued estimates for Orrstown Financial Services’ Q3 2020 earnings at $0.47 EPS, Q4 2020 earnings at $0.52 EPS, FY2020 earnings at $1.79 EPS, Q1 2021 earnings at $0.01 EPS, Q2 2021 earnings at $0.17 EPS, Q3 2021 earnings at $0.34 EPS, Q4 2021 earnings at $0.34 EPS and FY2021 earnings at $0.86 EPS.
Orrstown Financial Services (NASDAQ:ORRF) last issued its earnings results on Tuesday, April 21st. The bank reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.05. Orrstown Financial Services had a net margin of 14.78% and a return on equity of 9.47%. The business had revenue of $25.34 million for the quarter, compared to analyst estimates of $23.03 million.
Several other analysts have also weighed in on the stock. ValuEngine lowered shares of Orrstown Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, April 1st. Zacks Investment Research lowered shares of Orrstown Financial Services from a “hold” rating to a “sell” rating in a research report on Friday, May 29th.
Shares of Orrstown Financial Services stock opened at $14.75 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 0.82. The firm’s 50-day simple moving average is $13.40 and its 200-day simple moving average is $17.01. Orrstown Financial Services has a twelve month low of $11.40 and a twelve month high of $23.48. The firm has a market cap of $153.51 million, a P/E ratio of 8.58 and a beta of 0.91.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Orrstown Financial Services by 0.3% during the first quarter. BlackRock Inc. now owns 713,927 shares of the bank’s stock worth $9,830,000 after purchasing an additional 2,432 shares in the last quarter. Endeavour Capital Advisors Inc. lifted its position in shares of Orrstown Financial Services by 1.2% during the fourth quarter. Endeavour Capital Advisors Inc. now owns 353,677 shares of the bank’s stock worth $8,000,000 after purchasing an additional 4,358 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Orrstown Financial Services by 10.7% during the fourth quarter. Renaissance Technologies LLC now owns 287,801 shares of the bank’s stock worth $6,510,000 after purchasing an additional 27,724 shares in the last quarter. EJF Capital LLC raised its stake in shares of Orrstown Financial Services by 1.9% during the fourth quarter. EJF Capital LLC now owns 227,239 shares of the bank’s stock worth $5,140,000 after buying an additional 4,183 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Orrstown Financial Services by 4.9% during the first quarter. State Street Corp now owns 178,849 shares of the bank’s stock worth $2,463,000 after buying an additional 8,413 shares during the last quarter. Institutional investors own 42.04% of the company’s stock.
In related news, EVP Robert J. Fignar bought 1,990 shares of Orrstown Financial Services stock in a transaction dated Wednesday, May 6th. The shares were bought at an average cost of $13.50 per share, for a total transaction of $26,865.00. Following the completion of the transaction, the executive vice president now owns 15,961 shares of the company’s stock, valued at $215,473.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.00% of the stock is owned by insiders.
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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