Analysts predict that Orrstown Financial Services, Inc. (NASDAQ:ORRF – Get Rating) will announce sales of $29.52 million for the current quarter, according to Zacks. Two analysts have made estimates for Orrstown Financial Services’ earnings, with the highest sales estimate coming in at $30.13 million and the lowest estimate coming in at $28.90 million. Orrstown Financial Services reported sales of $28.57 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.3%. The firm is scheduled to report its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Orrstown Financial Services will report full year sales of $117.51 million for the current year, with estimates ranging from $117.41 million to $117.60 million. For the next year, analysts forecast that the business will report sales of $119.24 million, with estimates ranging from $118.28 million to $120.20 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Orrstown Financial Services.
Orrstown Financial Services (NASDAQ:ORRF – Get Rating) last released its earnings results on Tuesday, April 19th. The bank reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.16. Orrstown Financial Services had a return on equity of 11.70% and a net margin of 25.31%.
In other news, Director Floyd E. Stoner purchased 2,464 shares of the business’s stock in a transaction dated Tuesday, February 22nd. 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.83% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of ORRF. FMR LLC boosted its holdings in shares of Orrstown Financial Services by 5,382.4% in the first quarter. FMR LLC now owns 60,690 shares of the bank’s stock worth $1,128,000 after buying an additional 59,583 shares during the last quarter. Wells Fargo & Company MN raised its stake in Orrstown Financial Services by 207.7% during the 2nd quarter. Wells Fargo & Company MN now owns 43,472 shares of the bank’s stock worth $1,004,000 after acquiring an additional 29,345 shares during the period. SG Americas Securities LLC bought a new stake in Orrstown Financial Services during the 3rd quarter worth approximately $171,000. Barclays PLC raised its stake in Orrstown Financial Services by 4.7% during the 3rd quarter. Barclays PLC now owns 10,550 shares of the bank’s stock worth $248,000 after acquiring an additional 473 shares during the period. Finally, Citigroup Inc. raised its stake in Orrstown Financial Services by 144.6% during the 3rd quarter. Citigroup Inc. now owns 1,267 shares of the bank’s stock worth $30,000 after acquiring an additional 749 shares during the period. 43.79% of the stock is currently owned by institutional investors.
Shares of NASDAQ ORRF opened at $23.62 on Monday. The stock has a fifty day simple moving average of $23.35 and a two-hundred day simple moving average of $24.09. Orrstown Financial Services has a 1-year low of $21.81 and a 1-year high of $25.91. The firm has a market cap of $261.12 million, a price-to-earnings ratio of 8.44 and a beta of 0.85. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13.
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 9th. Shareholders of record on Monday, May 2nd were issued a $0.19 dividend. The ex-dividend date was Friday, April 29th. This represents a $0.76 dividend on an annualized basis and a yield of 3.22%. Orrstown Financial Services’s dividend payout ratio (DPR) is 27.14%.
About Orrstown Financial Services (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.
- Get a free copy of the StockNews.com research report on Orrstown Financial Services (ORRF)
- MarketBeat: Week in Review 5/16 – 5/20
- 3 Retailers That Defied First Quarter Headwinds
- Rapid7: Could Be Profitable in FY 2022 Despite Bear Market
- Will John Deere’s Earnings Help to Calm the Markets?
- Lowe’s Companies Has Not Bottomed
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Want More Great Investing Ideas?
- Bear Market Game Plan!
- The 10 Best Stocks to Own in 2022
- 7 Stocks to Buy and Hold Forever
- 3 Stocks to DOUBLE This Year
Receive News & Ratings for Orrstown Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Orrstown Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.