Orrstown Financial Services (NASDAQ:ORRF) Issues Earnings Results

Orrstown Financial Services (NASDAQ:ORRF) released its quarterly earnings results on Tuesday. The bank reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.19, Yahoo Finance reports. Orrstown Financial Services had a return on equity of 17.66% and a net margin of 6.63%. The firm had revenue of $95.37 million for the quarter, compared to analysts’ expectations of $60.90 million.

Orrstown Financial Services Stock Performance

Shares of NASDAQ ORRF traded up $0.19 during trading on Thursday, hitting $37.75. The company had a trading volume of 200,950 shares, compared to its average volume of 67,094. Orrstown Financial Services has a 12 month low of $20.25 and a 12 month high of $38.81. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market capitalization of $731.22 million, a P/E ratio of 20.30 and a beta of 0.90. The stock has a 50 day simple moving average of $35.46 and a 200 day simple moving average of $30.49.

Orrstown Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.44%. The ex-dividend date is Tuesday, November 5th. Orrstown Financial Services’s dividend payout ratio is presently 49.46%.

Wall Street Analyst Weigh In

ORRF has been the subject of a number of research reports. Janney Montgomery Scott began coverage on Orrstown Financial Services in a research report on Friday, June 28th. They set a “buy” rating and a $32.00 price objective for the company. Hovde Group boosted their target price on shares of Orrstown Financial Services from $37.00 to $42.00 and gave the company an “outperform” rating in a research report on Wednesday.

Orrstown Financial Services Company Profile

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.