Brokerages Expect Orrstown Financial Services, Inc. (NASDAQ:ORRF) Will Post Quarterly Sales of $29.05 Million

Wall Street brokerages expect that Orrstown Financial Services, Inc. (NASDAQ:ORRFGet Rating) will post $29.05 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Orrstown Financial Services’ earnings. 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, which suggests a positive year-over-year growth rate of 1.7%. The firm is expected to report its next earnings results on Monday, January 1st.

On average, analysts expect that Orrstown Financial Services will report full-year 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 anticipate that the company will report sales of $118.71 million, with estimates ranging from $117.22 million to $120.20 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Orrstown Financial Services.

Orrstown Financial Services (NASDAQ:ORRFGet Rating) last announced its earnings results on Tuesday, April 19th. The bank reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.16. Orrstown Financial Services had a net margin of 25.31% and a return on equity of 11.55%.

ORRF has been the subject of a number of analyst reports. Boenning Scattergood restated an “outperform” rating on shares of Orrstown Financial Services in a research note on Wednesday, April 20th. initiated coverage on shares of Orrstown Financial Services in a report on Thursday, March 31st. They set a “buy” rating for the company. Finally, Zacks Investment Research raised Orrstown Financial Services from a “sell” rating to a “hold” rating and set a $26.00 target price on the stock in a report on Saturday, March 26th.

Orrstown Financial Services stock opened at $23.58 on Monday. The business 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-to-equity ratio of 0.12. The stock has a market cap of $262.70 million, a price-to-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 firm also recently declared a quarterly dividend, which will be paid on Monday, May 9th. Investors of record on Monday, May 2nd will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Friday, April 29th. Orrstown Financial Services’s dividend payout ratio (DPR) is 27.14%.

In other Orrstown Financial Services news, Director Floyd E. Stoner bought 2,464 shares of the stock in a transaction on Tuesday, February 22nd. The stock was 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, which is accessible through the SEC website. 4.83% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of ORRF. Strs Ohio bought a new position in Orrstown Financial Services during the fourth quarter worth about $30,000. Citigroup Inc. raised 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’s stock worth $30,000 after purchasing an additional 749 shares during the period. Metropolitan Life Insurance Co NY bought a new position in shares of Orrstown Financial Services during the 3rd quarter valued at about $71,000. BNP Paribas Arbitrage SA grew its position in shares of Orrstown Financial Services by 82.2% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 3,126 shares of the bank’s stock valued at $73,000 after purchasing an additional 1,410 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Orrstown Financial Services in the third quarter valued at approximately $171,000. Hedge funds and other institutional investors own 43.54% of the company’s stock.

Orrstown Financial Services Company Profile (Get Rating)

Orrstown Financial Services, Inc operates as the holding company for Orrstown Bank that provides commercial banking and trust services in the United States. The company accepts various deposits, including checking, savings, time, demand, and money market deposits. It also offers commercial loans, such as commercial real estate, equipment, construction, working capital, and other commercial purpose loans, as well as industrial loans; consumer loans comprising 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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