Orrstown Financial Services (NASDAQ:ORRF) – Research analysts at Boenning Scattergood increased their Q1 2018 earnings per share (EPS) estimates for shares of Orrstown Financial Services in a research note issued to investors on Wednesday, according to Zacks Investment Research. Boenning Scattergood analyst M. Schultheis now expects that the bank will post earnings per share of $0.34 for the quarter, up from their prior forecast of $0.33. Boenning Scattergood has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Orrstown Financial Services’ Q2 2018 earnings at $0.39 EPS, Q3 2018 earnings at $0.36 EPS, Q4 2018 earnings at $0.39 EPS, FY2018 earnings at $1.48 EPS and FY2019 earnings at $1.65 EPS.
Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings results on Wednesday, October 25th. The bank reported $0.34 earnings per share for the quarter, meeting the consensus estimate of $0.34. Orrstown Financial Services had a return on equity of 7.15% and a net margin of 14.58%. The firm had revenue of $16.34 million for the quarter, compared to analyst estimates of $16.25 million.
ORRF has been the topic of several other reports. ValuEngine raised Orrstown Financial Services from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Zacks Investment Research raised 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.
Shares of Orrstown Financial Services (NASDAQ ORRF) traded up $0.10 during mid-day trading on Thursday, reaching $24.80. The company’s stock had a trading volume of 129,102 shares, compared to its average volume of 10,468. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.76 and a current ratio of 0.76. Orrstown Financial Services has a 12 month low of $19.05 and a 12 month high of $26.95. The firm has a market cap of $206.20, a price-to-earnings ratio of 20.33 and a beta of 0.67.
A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its position in Orrstown Financial Services by 98.6% in the 3rd 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 last quarter. Macquarie Group Ltd. acquired a new position in Orrstown Financial Services in the 3rd quarter worth about $292,000. Wedge Capital Management L L P NC acquired a new position in Orrstown Financial Services in the 3rd quarter worth about $344,000. The Manufacturers Life Insurance Company increased its position in Orrstown Financial Services by 4.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,281 shares of the bank’s stock worth $120,000 after purchasing an additional 235 shares during the last quarter. Finally, State Street Corp increased its position in Orrstown Financial Services by 7.0% in the 2nd quarter. State Street Corp now owns 102,012 shares of the bank’s stock worth $2,330,000 after purchasing an additional 6,696 shares during the last quarter. 39.58% of the stock is currently owned by institutional investors.
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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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