Orrstown Financial Services, Inc. (NASDAQ:ORRF) – Boenning Scattergood increased their Q2 2018 earnings per share estimates for Orrstown Financial Services in a research report issued on Thursday, April 19th. Boenning Scattergood analyst M. Schultheis now expects that the bank will post earnings per share of $0.39 for the quarter, up from their prior estimate of $0.35. Boenning Scattergood has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Orrstown Financial Services’ Q3 2018 earnings at $0.37 EPS, FY2018 earnings at $1.55 EPS and FY2019 earnings at $1.69 EPS.
A number of other equities analysts have also weighed in on ORRF. ValuEngine upgraded shares of Orrstown Financial Services from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research lowered shares of Orrstown Financial Services from a “buy” rating to a “hold” rating in a research report on Tuesday, January 30th.
Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings results on Wednesday, April 18th. The bank reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.12. The firm had revenue of $17.39 million for the quarter, compared to analyst estimates of $16.04 million. Orrstown Financial Services had a net margin of 12.91% and a return on equity of 8.57%.
A number of hedge funds have recently modified their holdings of the business. Millennium Management LLC raised its stake in Orrstown Financial Services by 402.3% during the fourth quarter. Millennium Management LLC now owns 40,991 shares of the bank’s stock worth $1,035,000 after purchasing an additional 32,830 shares during the period. Deutsche Bank AG raised its stake in Orrstown Financial Services by 32.4% during the fourth quarter. Deutsche Bank AG now owns 41,835 shares of the bank’s stock worth $1,055,000 after purchasing an additional 10,246 shares during the period. Renaissance Technologies LLC raised its stake in Orrstown Financial Services by 10.3% during the fourth quarter. Renaissance Technologies LLC now owns 214,127 shares of the bank’s stock worth $5,407,000 after purchasing an additional 20,027 shares during the period. Kennedy Capital Management Inc. raised its stake in Orrstown Financial Services by 70.5% during the fourth quarter. Kennedy Capital Management Inc. now owns 36,229 shares of the bank’s stock worth $915,000 after purchasing an additional 14,980 shares during the period. Finally, Pacific Ridge Capital Partners LLC raised its stake in Orrstown Financial Services by 3.2% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 92,633 shares of the bank’s stock worth $2,339,000 after purchasing an additional 2,840 shares during the period. 39.89% of the stock is currently owned by institutional investors.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 2nd. Shareholders of record on Tuesday, April 24th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, April 23rd. This is an increase from Orrstown Financial Services’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 2.04%. Orrstown Financial Services’s payout ratio is 36.92%.
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Orrstown Financial Services Company Profile
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, working capital, and other commercial purpose loans; consumer loans comprising home equity and other consumer loans, as well as home equity lines of credit; residential mortgage loans; agribusiness loans; acquisition and development loans; municipal loans; and installment and other loans.
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