Wall Street brokers expect Orrstown Financial Services, Inc. (NASDAQ:ORRF – Get Rating) to report earnings per share of $0.70 for the current quarter, according to Zacks. Two analysts released earnings estimates for Orrstown Financial Services, with the highest EPS estimate of $0.75 and the lowest estimate of $0.64. Orrstown Financial Services reported earnings per share of $0.79 in the same quarter last year, suggesting a negative 11.4% year-over-year growth rate. The company is due to release its next earnings report on Monday, January 1.
On average, analysts expect Orrstown Financial Services to report annual earnings of $2.71 per share for the current fiscal year, with EPS estimates ranging from $2.69 to $2.73. For the next fiscal year, analysts expect the company to report earnings of $2.52 per share, with EPS estimates ranging from $2.48 to $2.55. Zacks Investment Research’s EPS averages are an average average based on a survey of sell-side analysts who cover Orrstown Financial Services.
Orrstown Financial Services (NASDAQ:ORRF – Get Rating) last reported results on Tuesday, April 19. The bank reported earnings per share (EPS) of $0.76 for the quarter, beating consensus analyst estimates of $0.65 by $0.11. Orrstown Financial Services posted a net margin of 25.31% and a return on equity of 11.70%. The company posted revenue of $30.05 million in the quarter, compared to $29.57 million expected by analysts.
Several research companies have weighed in on ORRF recently. Zacks Investment Research upgraded shares of Orrstown Financial Services from a “sell” rating to a “hold” rating and set a price target of $26.00 for the company in a research report on Saturday, March 26. StockNews.com began covering Orrstown Financial Services stocks in a research report on Thursday, March 31. They issued a “buy” rating for the company. Finally, Boenning Scattergood reiterated an “outperform” rating on Orrstown Financial Services shares in a Wednesday, April 20 research report.
ORRF stock traded down $0.22 during Friday’s trading, hitting $24.91. The company had a trading volume of 761 shares, compared to an average volume of 44,697. The company has a quick ratio of 0.85, a current ratio of 0.85 and a leverage ratio of 0.13. The company has a 50-day moving average price of $23.70 and a 200-day moving average price of $24.09. Orrstown Financial Services has a 12-month low of $21.81 and a 12-month high of $25.84. The stock has a market capitalization of $275.50 million, a price/earnings ratio of 8.90 and a beta of 0.85.
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 9. Investors of record on Monday, May 2 received a dividend of $0.19. The ex-dividend date was Friday, April 29. This represents an annualized dividend of $0.76 and a yield of 3.05%. Orrstown Financial Services’ dividend payout ratio is currently 27.14%.
Institutional investors and hedge funds have recently been buying and selling stocks. Strs Ohio bought a new stake in Orrstown Financial Services during the 4th quarter for a value of approximately $30,000. Citigroup Inc. increased its position in Orrstown Financial Services by 144.6% during the third quarter. Citigroup Inc. now owns 1,267 shares of the bank worth $30,000 after buying 749 more shares last quarter. Metropolitan Life Insurance Co NY purchased a new stake in Orrstown Financial Services during Q3 valued at approximately $71,000. BNP Paribas Arbitrage SA increased its stake in Orrstown Financial Services shares by 82.2% in the third quarter. BNP Paribas Arbitrage SA now owns 3,126 shares in the bank valued at $73,000 after purchasing an additional 1,410 shares during the period. Finally, MetLife Investment Management LLC increased its stake in shares of Orrstown Financial Services by 57.0% in the 1st quarter. MetLife Investment Management LLC now owns 6,252 shares of the bank valued at $143,000 after purchasing an additional 2,270 shares during the period. 43.79% of the shares are currently held by institutional investors and hedge funds.
About Orrstown Financial Services (Get an assessment)
Orrstown Financial Services, Inc operates as a holding company for Orrstown Bank which provides commercial banking and trust services in the United States. The Company accepts a variety of deposits including checking, savings, term, demand and money market deposits. It also offers commercial loans, such as commercial real estate loans, equipment, buildings, working capital and other loans for commercial purposes, as well as industrial loans; consumer loans including 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.
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