Orrstown Financial Services (ORRF) Expected to Announce Quarterly Earnings on Tuesday

Orrstown Financial Services (NASDAQ:ORRF) is projected to announce its earnings results before the market opens on Tuesday, April 22nd. Analysts expect the company to announce earnings of $0.99 per share and revenue of $51.83 million for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings results on Friday, January 31st. The bank reported $0.87 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.17). Orrstown Financial Services had a return on equity of 15.77% and a net margin of 7.70%. On average, analysts expect Orrstown Financial Services to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Orrstown Financial Services Trading Up 0.8 %

NASDAQ:ORRF opened at $26.95 on Friday. The firm has a market capitalization of $525.66 million, a price-to-earnings ratio of 14.65 and a beta of 0.78. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.88 and a quick ratio of 0.88. The business has a fifty day moving average price of $30.40 and a 200-day moving average price of $34.88. Orrstown Financial Services has a one year low of $24.91 and a one year high of $41.99.

Orrstown Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were given a $0.26 dividend. This is a boost from Orrstown Financial Services’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.04 dividend on an annualized basis and a yield of 3.86%. Orrstown Financial Services’s dividend payout ratio is presently 56.52%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Raymond James assumed coverage on Orrstown Financial Services in a research note on Thursday, April 10th. They set an “outperform” rating and a $35.00 price objective for the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $42.00 price target (down from $46.00) on shares of Orrstown Financial Services in a research report on Monday, February 3rd. Finally, Piper Sandler started coverage on shares of Orrstown Financial Services in a research report on Wednesday, January 8th. They set an “overweight” rating and a $43.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.80.

Insiders Place Their Bets

In related news, Director Scott V. Fainor purchased 3,000 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were acquired at an average price of $31.17 per share, for a total transaction of $93,510.00. Following the purchase, the director now directly owns 13,396 shares in the company, valued at $417,553.32. This trade represents a 28.86 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brian D. Brunner acquired 2,500 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were bought at an average cost of $30.87 per share, with a total value of $77,175.00. Following the acquisition, the director now directly owns 49,330 shares in the company, valued at approximately $1,522,817.10. The trade was a 5.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 6,800 shares of company stock worth $211,892 in the last three months. 4.70% of the stock is owned by company insiders.

About Orrstown Financial Services

Orrstown Financial Services, Inc operates as the financial holding company for Orrstown Bank that provides commercial banking and financial advisory services to retail, commercial, non-profit, and government clients in the United States. It accepts various deposits, including checking, savings, time, demand, and money market deposits, as well as certificates of deposit.