Orrstown Financial Services, Inc. (NASDAQ: ORRF) – Stock researchers at Piper Sandler lowered their earnings per share (EPS) estimates for fiscal 2021 for Orrstown Financial Services in a report released on Monday, December 13. Piper Sandler analyst C. Whitman now predicts the bank will post earnings per share of $ 3.00 for the year, down from its previous forecast of $ 3.03. Piper Sandler also released estimates for Orrstown Financial Services first quarter 2023 earnings at $ 0.50 per share, second quarter 2023 earnings at $ 0.57 per share, third quarter 2023 earnings at 0, $ 64 per share and earnings for fiscal 2023 to $ 2.39 per share.
Separately, Zacks investment research raised Orrstown Financial Services shares from a âsellâ rating to a âconservationâ rating in a research note on Saturday, October 23.
NASDAQ ORRF open at $ 23.82 Wednesday. The stock has a market cap of $ 266.93 million, a P / E ratio of 7.28 and a beta of 0.97. The company’s 50-day simple moving average is $ 24.15 and its 200-day simple moving average is $ 23.81. Orrstown Financial Services has a twelve month low of $ 16.02 and a twelve month high of $ 25.91. The company has a quick ratio of 0.89, a current ratio of 0.89, and a debt ratio of 0.12. Orrstown Financial Services (NASDAQ: ORRF) last released its quarterly earnings data on Monday, October 18. The bank reported earnings per share (EPS) of $ 0.65 for the quarter, reaching the consensus estimate of $ 0.65. The company posted revenue of $ 28.27 million for the quarter, compared to a consensus estimate of $ 26.79 million. Orrstown Financial Services had a net margin of 28.93% and a return on equity of 14.00%.
A number of large investors have recently changed their holdings in ORRFs. Citigroup Inc. increased its stake in Orrstown Financial Services by 144.6% in the third quarter. Citigroup Inc. now owns 1,267 shares of the bank valued at $ 30,000 after purchasing an additional 749 shares last quarter. Metropolitan Life Insurance Co NY purchased a new equity stake in Orrstown Financial Services during the third quarter valued at $ 71,000. BNP Paribas Arbitrage SA strengthened its position in Orrstown Financial Services shares by 82.2% during the third quarter. BNP Paribas Arbitrage SA now owns 3,126 shares of the bank valued at $ 73,000 after acquiring 1,410 additional shares during the last quarter. Panagora Asset Management Inc. increased its position in Orrstown Financial Services shares by 2,026.6% during the second quarter. Panagora Asset Management Inc. now owns 6,401 shares of the bank valued at $ 148,000 after acquiring an additional 6,100 shares in the last quarter. Finally, Advisor Group Holdings Inc. increased its position in Orrstown Financial Services shares by 26.4% during the second quarter. Advisor Group Holdings Inc. now owns 6,470 shares of the bank valued at $ 150,000 after acquiring 1,353 additional shares in the last quarter. 42.16% of the shares are held by hedge funds and other institutional investors.
In related news, CEO Thomas R. Quinn, Jr. sold 8,273 shares in a transaction that took place on Wednesday, September 22. The shares were sold for an average price of $ 22.50, for a total value of $ 186,142.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 4.10% of the company’s shares.
The company also recently announced a quarterly dividend, which was paid on Monday, November 8. Shareholders of record on Monday, November 1 received a dividend of $ 0.19 per share. The ex-dividend date of this dividend was Friday October 29. This represents a dividend of $ 0.76 on an annualized basis and a dividend yield of 3.19%. Orrstown Financial Services’ payout ratio is 23.24%.
Orrstown Financial Services Company Profile
Orrstown Financial Services, Inc. is a holding company that provides financial services to consumers and businesses. It also offers commercial banking and trust services which involve accepting sight, term and savings deposits and granting loans. The company was founded on November 17, 1987 and is headquartered in Shippensburg, Pennsylvania.
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