Orrstown Financial Services (ORRF) to Release Earnings on Tuesday

Orrstown Financial Services (NASDAQ:ORRF) is projected to issue its quarterly earnings data 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.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings data on Friday, January 31st. The bank reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 Price Performance

NASDAQ:ORRF opened at $26.37 on Tuesday. The stock has a market capitalization of $514.35 million, a PE ratio of 14.33 and a beta of 0.78. Orrstown Financial Services has a 1-year low of $24.70 and a 1-year high of $41.99. The firm has a fifty day simple moving average of $31.01 and a 200 day simple moving average of $35.11. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13.

Orrstown Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were paid a $0.26 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.04 dividend on an annualized basis and a yield of 3.94%. This is a boost from Orrstown Financial Services’s previous quarterly dividend of $0.23. Orrstown Financial Services’s dividend payout ratio (DPR) is currently 56.52%.

Insider Transactions at Orrstown Financial Services

In other news, Director John W. Giambalvo acquired 1,000 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were purchased at an average cost of $30.80 per share, with a total value of $30,800.00. Following the acquisition, the director now directly owns 40,562 shares in the company, valued at $1,249,309.60. This represents a 2.53 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Scott V. Fainor bought 3,000 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were purchased at an average cost of $31.17 per share, with a total value of $93,510.00. Following the acquisition, the director now directly owns 13,396 shares of the company’s stock, valued at approximately $417,553.32. This represents a 28.86 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 6,800 shares of company stock worth $211,892. 5.30% of the stock is owned by insiders.

Analyst Ratings Changes

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

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.