Wall Street brokers expect Orrstown Financial Services, Inc. (NASDAQ:ORRF – Get a rating) will post sales of $29.05 million for the current quarter, according to Zacks Investment Research. Two analysts provided earnings estimates for Orrstown Financial Services. The highest sales estimate is $29.19 million and the lowest is $28.90 million. Orrstown Financial Services reported sales of $28.57 million in the same quarter last year, suggesting a positive year-over-year growth rate of 1.7%. The company is expected to release its next results on Monday, January 1.
On average, analysts expect Orrstown Financial Services to report sales of $115.82 million for the current year, with estimates ranging from $114.04 million to $117.60 million. For the next fiscal year, analysts expect the company to record sales of $118.71 million, with estimates ranging from $117.22 million to $120.20 million. Zacks sales calculations are an average average based on a survey of research companies that provide coverage for Orrstown Financial Services.
Orrstown Financial Services (NASDAQ: ORRF – Get a rating) last announced its results on Tuesday, April 19. The bank reported earnings per share (EPS) of $0.76 for the quarter, beating the Zacks consensus estimate of $0.60 by $0.16. Orrstown Financial Services posted a net margin of 25.31% and a return on equity of 11.55%.
ORRF has been the subject of several analyst reports. Boenning Scattergood restated an “outperform” rating on Orrstown Financial Services stock in a Wednesday, April 20 research note. StockNews.com launched a hedge on shares of Orrstown Financial Services in a Thursday, March 31 report. They set a “buy” rating for the company. To finish, Zacks Investment Research upgraded Orrstown Financial Services from a “sell” rating to a “hold” rating and set a target price of $26.00 on the stock in a Saturday, March 26 report.
Orrstown Financial Services stock opened at $23.58 on Monday. The company has a 50-day moving average price of $23.40 and a two-hundred-day moving average price of $24.10. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt ratio of 0.12. The stock has a market capitalization of $262.70 million, a price-earnings ratio of 8.42 and a beta of 0.94. Orrstown Financial Services has a 12-month low of $21.81 and a 12-month high of $25.91.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 9. Investors of record on Monday, May 2 will receive a dividend of $0.19 per share. This represents a dividend of $0.76 on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Friday, April 29. Orrstown Financial Services’ dividend payout ratio (DPR) is 27.14%.
In other news from Orrstown Financial Services, Director Floyd E. Stoner bought 2,464 shares in a trade on Tuesday, February 22. The shares were purchased at an average price of $24.66 per share, with a total value of $60,762.24. The purchase was disclosed in a legal filing with the SEC, accessible via the SEC website. 4.83% of the shares are currently held by insiders of the company.
A number of institutional investors and hedge funds have recently changed their holdings in ORRF. Strs Ohio bought a new position in Orrstown Financial Services during the fourth quarter worth about $30,000. Citigroup Inc. increased its position in shares of Orrstown Financial Services by 144.6% during the third quarter. Citigroup Inc. now owns 1,267 shares of the bank worth $30,000 after purchasing an additional 749 shares during the period. Metropolitan Life Insurance Co NY bought a new stock position in Orrstown Financial Services during Q3, valued at around $71,000. BNP Paribas Arbitrage SA increased its position 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, SG Americas Securities LLC acquired a new equity stake in Orrstown Financial Services in the third quarter valued at approximately $171,000. Hedge funds and other institutional investors hold 43.54% of the company’s shares.
Orrstown Financial Services Company Profile (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 mortgages; acquisition and development loans; municipal loans; and installment and other loans.
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