Brokerages expect Orrstown Financial Services, Inc. (NASDAQ:ORRF – Get Rating) to post earnings per share (EPS) of $0.70 for the current quarter, according to Zacks Investment Research. Two analysts have made earnings estimates for Orrstown Financial Services. The lowest EPS estimate is $0.64 and the highest is $0.75. Orrstown Financial Services reported earnings of $0.79 per share in the same quarter last year, indicating a negative 11.4% year-over-year growth rate. The company is expected to release its next quarterly earnings report on Monday, January 1.
According to Zacks, 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 post earnings of $2.52 per share, with EPS estimates ranging from $2.48 to $2.55. Zacks Investment Research’s earnings per share averages are an average average based on a survey of research firms that track Orrstown Financial Services.
Orrstown Financial Services (NASDAQ:ORRF – Get Rating) last released its quarterly results on Tuesday, April 19. The bank reported earnings per share of $0.76 for the quarter, beating the consensus estimate of $0.60 by $0.16. Orrstown Financial Services recorded a return on equity of 11.70% and a net margin of 25.31%.
Several analysts have recently released reports on ORRF shares. Zacks Investment Research upgraded shares of Orrstown Financial Services from a “sell” to a “hold” rating and set a price target of $26.00 for the company in a research note on Saturday, March 26 . Boenning Scattergood reissued an “outperform” rating on Orrstown Financial Services stock in a Wednesday, April 20 research note. Finally, StockNews.com picked up stock coverage from Orrstown Financial Services in a Thursday, March 31 research report. They set a “buy” rating for the company.
Shares of NASDAQ ORRF opened at $23.62 on Friday. Orrstown Financial Services has a 52-week low of $21.81 and a 52-week high of $25.91. The company has a fifty-day moving average of $23.35 and a 200-day moving average of $24.10. The stock has a market capitalization of $261.12 million, a PE ratio of 8.44 and a beta of 0.85. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt ratio of 0.13.
The company also recently declared a quarterly dividend, which was paid on Monday, May 9. Investors of record on Monday, May 2 received a dividend of $0.19 per share. The ex-dividend date was Friday, April 29. This represents a dividend of $0.76 on an annualized basis and a yield of 3.22%. Orrstown Financial Services’ dividend payout ratio (DPR) is 27.14%.
Separately, director Floyd E. Stoner acquired 2,464 shares of the company in a transaction on Tuesday, February 22. The shares were purchased at an average price of $24.66 per share, for a total transaction of $60,762.24. The purchase was disclosed in a legal filing with the SEC, which is available via this link. Insiders own 4.83% of the shares of the company.
A number of hedge funds have recently changed their ORRF holdings. Citigroup Inc. increased its stake in shares of 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 buying an additional 749 shares last quarter. Strs Ohio acquired a new stake in Orrstown Financial Services stock in Q4, valued at approximately $30,000. Metropolitan Life Insurance Co NY acquired a new stake in Orrstown Financial Services stock in Q3 valued at approximately $71,000. BNP Paribas Arbitrage SA increased its stake in Orrstown Financial Services by 82.2% during the third quarter. BNP Paribas Arbitrage SA now owns 3,126 shares in the bank worth $73,000 after acquiring an additional 1,410 shares during the period. Finally, MetLife Investment Management LLC increased its stake in Orrstown Financial Services by 57.0% during the first quarter. MetLife Investment Management LLC now owns 6,252 shares of the bank worth $143,000 after acquiring 2,270 additional shares during the period. Hedge funds and other institutional investors own 43.79% of the company’s shares.
About Orrstown Financial Services (Get a rating)
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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