Boenning Scattergood Analysts Cut Earnings Estimates for Orrstown Financial Services (ORRF)

Orrstown Financial Services (NASDAQ:ORRF) – Equities research analysts at Boenning Scattergood lowered their Q1 2018 earnings estimates for Orrstown Financial Services in a report released on Thursday. Boenning Scattergood analyst M. Schultheis now expects that the bank will post earnings per share of $0.30 for the quarter, down from their previous estimate of $0.34. Boenning Scattergood has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Orrstown Financial Services’ Q2 2018 earnings at $0.35 EPS, Q3 2018 earnings at $0.34 EPS, FY2018 earnings at $1.40 EPS and FY2019 earnings at $1.62 EPS.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings data on Wednesday, January 24th. The bank reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). Orrstown Financial Services had a net margin of 11.33% and a return on equity of 7.57%. The firm had revenue of $16.51 million during the quarter, compared to analysts’ expectations of $17.08 million.

Other analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Orrstown Financial Services from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Tuesday, October 31st. ValuEngine upgraded shares of Orrstown Financial Services from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st.

Shares of Orrstown Financial Services (NASDAQ ORRF) opened at $25.30 on Monday. Orrstown Financial Services has a 52-week low of $19.05 and a 52-week high of $26.95. The stock has a market cap of $211.08, a PE ratio of 25.82 and a beta of 0.67. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.76 and a quick ratio of 0.76.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in Orrstown Financial Services by 98.6% during the third quarter. Dimensional Fund Advisors LP now owns 41,110 shares of the bank’s stock worth $1,024,000 after purchasing an additional 20,414 shares during the period. Wedge Capital Management L L P NC purchased a new stake in shares of Orrstown Financial Services in the 3rd quarter valued at approximately $344,000. Macquarie Group Ltd. purchased a new stake in shares of Orrstown Financial Services in the 3rd quarter valued at approximately $292,000. State Street Corp raised its stake in shares of Orrstown Financial Services by 7.0% in the 2nd quarter. State Street Corp now owns 102,012 shares of the bank’s stock valued at $2,330,000 after acquiring an additional 6,696 shares during the period. Finally, Orrstown Financial Services Inc. raised its stake in shares of Orrstown Financial Services by 57,850.0% in the 4th quarter. Orrstown Financial Services Inc. now owns 4,636 shares of the bank’s stock valued at $117,000 after acquiring an additional 4,628 shares during the period. Hedge funds and other institutional investors own 39.63% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Saturday, February 3rd will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, February 1st. This is a positive change from Orrstown Financial Services’s previous quarterly dividend of $0.07. This represents a $0.48 dividend on an annualized basis and a yield of 1.90%. Orrstown Financial Services’s payout ratio is presently 48.98%.

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About Orrstown Financial Services

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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