Orrstown Financial Services Inc. Second Quarter Earnings Sneak Peek

Orrstown Financial Services Inc. (NASDAQ:ORRF) will unveil its latest earnings on Monday, July 18, 2011. Orrstown Financial Services, Inc. is a financial holding Company which through its subsidiaries provides consumer & business financial services in Cumberland, Franklin & Perry Counties, Pennsylvania & Washington County, Maryland.

Orrstown Financial Services Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 56 cents per share, a rise of 19.1% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 63 cents. Between one and three months ago, the average estimate moved down and dropped from 57 cents during the last month. For the year, analysts are projecting net income of $2.26 per share, a rise of 4.1% from last year.

Past Earnings Performance: The company fell short of estimates last quarter after being in line with forecasts the quarter prior. In the first quarter, it reported profit of 48 cents per share versus a mean estimate of 56 cents. Two quarters ago, it reported net income of 55 cents per share.

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Wall St. Revenue Expectations: On average, analysts predict $13.1 million in revenue this quarter, a rise of 15.7% from the year ago quarter. Analysts are forecasting total revenue of $53.3 million for the year, a rise of 16.5% from last year’s revenue of $45.7 million.

Analyst Ratings: The limited number of analysts covering the stock seem relatively indifferent about Orrstown Financial Services with two of three analysts surveyed maintaining a hold rating.

Key Stats:

The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 12.4% while it rose 45.2% in the fourth quarter of the last fiscal year and 26.2% in the third quarter of the last fiscal year.

Revenue has risen the past four quarters. Revenue increased 38.8% to $25.3 million in first quarter. The figure rose 10% in the fourth quarter of the last fiscal year from the year earlier, climbed 16.9% in the third quarter of the last fiscal year from the year-ago quarter and 27.1% in the second quarter of the last fiscal year.

Competitors to Watch: Tower Bancorp, Inc. (NASDAQ:TOBC), Susquehanna Bancshares, Inc. (NASDAQ:SUSQ), ACNB Corporation (NASDAQ:ACNB), Metro Bancorp, Inc. (NASDAQ:METR), Republic First Bancorp, Inc. (NASDAQ:FRBK), S&T Bancorp, Inc. (NASDAQ:STBA), Univest Corp. of PA (NASDAQ:UVSP), Royal Bancshares of Pennsylvania, Inc. (NASDAQ:RBPAA), CNB Financial Corporation (NASDAQ:CCNE), and Citizens & Northern Corp. (NASDAQ:CZNC).

Stock Price Performance: During June 13, 2011 to July 12, 2011, the stock price had risen $1.55 (6.6%) from $23.55 to $25.10. The stock price saw one of its best stretches over the last year between February 28, 2011, and March 7, 2011, when shares rose for six-straight days, rising 7.3% (+$1.86) over that span. It saw one of its worst periods between June 9, 2011, and June 21, 2011, when shares fell for nine-straight days, falling 12.8% (-$3.38) over that span. Shares are down $1.82 (-6.8%) year to date.

(Source: Xignite Financials)

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