Analysts Set Expectations for Orrstown Financial Services, Inc.’s FY2022 Earnings (NASDAQ:ORRF)

Orrstown Financial Services, Inc. (NASDAQ:ORRFGet Rating) – Equities research analysts at Boenning Scattergood raised their FY2022 earnings per share estimates for Orrstown Financial Services in a note issued to investors on Wednesday, April 20th. Boenning Scattergood analyst E. Zwick now expects that the bank will post earnings per share of $2.69 for the year, up from their previous estimate of $2.40. Boenning Scattergood has a “Outperform” rating on the stock.

Other research analysts have also issued research reports about the company. Zacks Investment Research raised Orrstown Financial Services from a “sell” rating to a “hold” rating and set a $26.00 target price for the company in a research report on Saturday, March 26th. StockNews.com began coverage on Orrstown Financial Services in a research report on Thursday, March 31st. They issued a “buy” rating for the company.

Shares of NASDAQ:ORRF opened at $24.75 on Friday. Orrstown Financial Services has a 52-week low of $21.81 and a 52-week high of $25.91. The firm has a market capitalization of $275.74 million, a P/E ratio of 8.36 and a beta of 0.94. The stock has a 50 day moving average price of $23.45 and a 200-day moving average price of $24.10. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 0.88.

Orrstown Financial Services (NASDAQ:ORRFGet Rating) last released its quarterly earnings data on Tuesday, April 19th. The bank reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.16. Orrstown Financial Services had a return on equity of 12.40% and a net margin of 26.77%.

Several institutional investors have recently bought and sold shares of the business. Barclays PLC increased its holdings in shares of Orrstown Financial Services by 83.2% in the 4th quarter. Barclays PLC now owns 19,327 shares of the bank’s stock worth $487,000 after purchasing an additional 8,777 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings in shares of Orrstown Financial Services by 2.1% in the 4th quarter. Parametric Portfolio Associates LLC now owns 34,236 shares of the bank’s stock worth $863,000 after purchasing an additional 719 shares in the last quarter. State Street Corp increased its holdings in shares of Orrstown Financial Services by 1.1% in the 4th quarter. State Street Corp now owns 205,721 shares of the bank’s stock worth $5,184,000 after purchasing an additional 2,293 shares in the last quarter. Bailard Inc. increased its holdings in shares of Orrstown Financial Services by 8.7% in the 4th quarter. Bailard Inc. now owns 13,745 shares of the bank’s stock worth $346,000 after purchasing an additional 1,100 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Orrstown Financial Services by 11.0% in the 4th quarter. JPMorgan Chase & Co. now owns 36,842 shares of the bank’s stock worth $928,000 after purchasing an additional 3,663 shares in the last quarter. 43.54% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Barbara E. Brobst sold 2,946 shares of the firm’s stock in a transaction that occurred on Tuesday, January 25th. The stock was sold at an average price of $25.11, for a total transaction of $73,974.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Floyd E. Stoner acquired 2,464 shares of Orrstown Financial Services stock in a transaction that occurred on Tuesday, February 22nd. The shares were bought at an average cost of $24.66 per share, with a total value of $60,762.24. The disclosure for this purchase can be found here. 4.83% of the stock is owned by company insiders.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 9th. Investors of record on Monday, May 2nd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Friday, April 29th. Orrstown Financial Services’s dividend payout ratio (DPR) is presently 25.68%.

About Orrstown Financial Services (Get Rating)

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, construction, working capital, and other commercial purpose loans, as well as industrial loans; consumer loans comprising home equity and other consumer loans, as well as home equity lines of credit; residential mortgage loans; acquisition and development loans; municipal loans; and installment and other loans.

See Also

Earnings History and Estimates for Orrstown Financial Services (NASDAQ:ORRF)

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