Orrstown Financial Services, Inc. (NASDAQ:ORRF) Expected to Announce Earnings of $0.64 Per Share

Wall Street brokerages expect Orrstown Financial Services, Inc. (NASDAQ:ORRF) to post earnings per share (EPS) of $0.64 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Orrstown Financial Services’ earnings. The lowest EPS estimate is $0.63 and the highest is $0.65. Orrstown Financial Services reported earnings per share of $0.57 in the same quarter last year, which would suggest a positive year-over-year growth rate of 12.3%. The firm is expected to issue its next earnings report on Tuesday, October 19th.

On average, analysts expect that Orrstown Financial Services will report full-year earnings of $3.04 per share for the current financial year, with EPS estimates ranging from $3.03 to $3.04. For the next year, analysts forecast that the company will post earnings of $2.22 per share, with EPS estimates ranging from $2.06 to $2.37. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that cover Orrstown Financial Services.

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

Separately, Zacks Investment Research cut Orrstown Financial Services from a “hold” rating to a “sell” rating in a research report on Thursday.

NASDAQ:ORRF opened at $23.86 on Monday. Orrstown Financial Services has a 52 week low of $13.00 and a 52 week high of $25.91. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $268.52 million, a PE ratio of 7.77 and a beta of 1.00. The stock’s 50-day moving average price is $23.47 and its 200-day moving average price is $23.68.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 9th. Investors of record on Monday, August 2nd were paid a $0.19 dividend. This is an increase from Orrstown Financial Services’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend was Friday, July 30th. Orrstown Financial Services’s dividend payout ratio is currently 30.16%.

In other Orrstown Financial Services news, CEO Thomas R. Quinn, Jr. sold 8,273 shares of the stock in a transaction dated Wednesday, September 22nd. The shares were sold at an average price of $22.50, for a total value of $186,142.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 8,583 shares of company stock valued at $193,433 over the last quarter. Company insiders own 4.10% of the company’s stock.

A number of large investors have recently bought and sold shares of ORRF. BlackRock Inc. raised its position in shares of Orrstown Financial Services by 6.2% during the 1st quarter. BlackRock Inc. now owns 840,491 shares of the bank’s stock valued at $18,742,000 after buying an additional 48,773 shares during the period. Vanguard Group Inc. boosted its position in shares of Orrstown Financial Services by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 485,988 shares of the bank’s stock worth $11,212,000 after purchasing an additional 6,484 shares during the period. FMR LLC raised its position in Orrstown Financial Services by 29.9% in the second quarter. FMR LLC now owns 419,577 shares of the bank’s stock valued at $9,680,000 after purchasing an additional 96,519 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Orrstown Financial Services by 11.9% in the second quarter. Dimensional Fund Advisors LP now owns 302,892 shares of the bank’s stock valued at $6,988,000 after buying an additional 32,263 shares in the last quarter. Finally, Endeavour Capital Advisors Inc. lifted its stake in Orrstown Financial Services by 1.9% during the 1st quarter. Endeavour Capital Advisors Inc. now owns 288,895 shares of the bank’s stock worth $6,442,000 after acquiring an additional 5,522 shares in the last quarter. Institutional investors own 42.42% of the company’s stock.

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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