Orrstown Financial Services, Inc. (NASDAQ:ORRF) Expected to Announce Earnings of $0.71 Per Share

Analysts expect Orrstown Financial Services, Inc. (NASDAQ:ORRF) to report earnings of $0.71 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Orrstown Financial Services’ earnings, with estimates ranging from $0.63 to $0.78. Orrstown Financial Services reported earnings of $0.57 per share in the same quarter last year, which indicates a positive year over year growth rate of 24.6%. The firm is scheduled to report its next earnings report on Tuesday, October 19th.

According to Zacks, analysts expect that Orrstown Financial Services will report full year earnings of $3.17 per share for the current year, with EPS estimates ranging from $3.04 to $3.30. For the next financial year, analysts anticipate that the company will post earnings of $2.29 per share, with EPS estimates ranging from $2.20 to $2.37. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Orrstown Financial Services.

Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings results on Monday, July 19th. The bank reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. Orrstown Financial Services had a net margin of 26.90% and a return on equity of 14.14%. The business had revenue of $28.57 million during the quarter, compared to analysts’ expectations of $28.03 million.

Separately, Zacks Investment Research cut shares of Orrstown Financial Services from a “buy” rating to a “sell” rating in a research note on Friday, July 23rd.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its position in Orrstown Financial Services by 5,382.4% in the 1st quarter. FMR LLC now owns 60,690 shares of the bank’s stock valued at $1,128,000 after buying an additional 59,583 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Orrstown Financial Services by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 252,923 shares of the bank’s stock worth $4,186,000 after purchasing an additional 3,592 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Orrstown Financial Services in the 1st quarter worth $206,000. BNP Paribas Arbitrage SA lifted its holdings in Orrstown Financial Services by 69.5% during the first quarter. BNP Paribas Arbitrage SA now owns 5,372 shares of the bank’s stock worth $120,000 after acquiring an additional 2,202 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in Orrstown Financial Services by 6.2% during the first quarter. BlackRock Inc. now owns 840,491 shares of the bank’s stock worth $18,742,000 after acquiring an additional 48,773 shares in the last quarter. Institutional investors own 42.42% of the company’s stock.

ORRF stock traded up $0.01 during trading on Tuesday, hitting $22.52. 27,020 shares of the stock traded hands, compared to its average volume of 28,473. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.89 and a quick ratio of 0.89. Orrstown Financial Services has a 1 year low of $12.40 and a 1 year high of $25.91. The stock has a market cap of $253.44 million, a price-to-earnings ratio of 7.34 and a beta of 1.00. The firm’s 50 day moving average is $23.29 and its two-hundred day moving average is $23.56.

The business also recently declared a quarterly dividend, which was paid on Monday, August 9th. Investors of record on Monday, August 2nd were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, July 30th. This is a positive change from Orrstown Financial Services’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 3.37%. Orrstown Financial Services’s payout ratio is 30.16%.

Orrstown Financial Services Company Profile

Orrstown Financial Services, Inc is a holding company, which engages in the provision of consumer and business financial services. It also offers commercial banking and trust business services which involves accepting demand, time and savings deposits, and granting loans. The company was founded on November 17, 1987 and is headquartered in Shippensburg, PA.

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

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