Analysts Expect Orrstown Financial Services Inc (ORRF) to Post $0.32 EPS
Shares of Orrstown Financial Services Inc (NASDAQ:ORRF) have been given a consensus broker rating score of 2.50 (Hold) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has issued a buy recommendation on the company. Orrstown Financial Services’ rating score has improved by 16.7% from three months ago as a result of various analysts’ upgrades and downgrades.
Zacks has also assigned Orrstown Financial Services an industry rank of 73 out of 265 based on the ratings given to related companies.
A number of equities analysts have weighed in on the stock. Zacks Investment Research raised shares of Orrstown Financial Services from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Saturday, July 29th. Keefe, Bruyette & Woods raised shares of Orrstown Financial Services from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $24.00 to $28.00 in a research note on Thursday, July 27th.
Orrstown Financial Services (ORRF) traded up 0.96% on Tuesday, hitting $26.35. 147 shares of the stock traded hands. The stock has a market cap of $212.59 million, a P/E ratio of 24.84 and a beta of 0.89. Orrstown Financial Services has a 12-month low of $18.05 and a 12-month high of $26.45. The stock has a 50-day moving average price of $22.68 and a 200 day moving average price of $21.95.
Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings results on Wednesday, July 26th. The bank reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.13. Orrstown Financial Services had a net margin of 13.25% and a return on equity of 6.32%. The firm had revenue of $16.34 million during the quarter, compared to the consensus estimate of $16.09 million. On average, equities analysts expect that Orrstown Financial Services will post $1.34 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 8th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, August 4th. Orrstown Financial Services’s dividend payout ratio is presently 37.74%.
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In other Orrstown Financial Services news, Director Anthony F. Ceddia sold 1,250 shares of the business’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $20.31, for a total value of $25,387.50. Following the completion of the transaction, the director now directly owns 8,312 shares of the company’s stock, valued at $168,816.72. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 2,508 shares of company stock valued at $52,850. Insiders own 5.40% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Deprince Race & Zollo Inc. increased its position in shares of Orrstown Financial Services by 10.9% in the second quarter. Deprince Race & Zollo Inc. now owns 314,936 shares of the bank’s stock worth $7,196,000 after buying an additional 30,973 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Orrstown Financial Services by 27.6% in the second quarter. SG Americas Securities LLC now owns 7,852 shares of the bank’s stock worth $179,000 after buying an additional 1,697 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Orrstown Financial Services by 3.6% in the first quarter. Geode Capital Management LLC now owns 51,019 shares of the bank’s stock worth $1,140,000 after buying an additional 1,759 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Orrstown Financial Services by 17.0% in the first quarter. Wellington Management Group LLP now owns 79,813 shares of the bank’s stock worth $1,784,000 after buying an additional 11,578 shares in the last quarter. Finally, American International Group Inc. increased its position in shares of Orrstown Financial Services by 7.2% in the first quarter. American International Group Inc. now owns 4,559 shares of the bank’s stock worth $102,000 after buying an additional 306 shares in the last quarter. 37.63% of the stock is owned by institutional investors.
Orrstown Financial Services Company Profile
Orrstown Financial Services, Inc is the bank holding company for Orrstown Bank (the Bank). The Bank is engaged in commercial banking and trust business. The Company operates through Community Banking segment. The Bank’s activities involve accepting demand, time and savings deposits, and granting loans.
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