Orrstown Financial Services (NASDAQ:ORRF) Announces Quarterly Earnings Results

Orrstown Financial Services (NASDAQ:ORRFGet Free Report) issued its quarterly earnings results on Tuesday. The bank reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.06, Zacks reports. Orrstown Financial Services had a net margin of 23.58% and a return on equity of 14.75%.

Orrstown Financial Services Stock Up 0.1%

ORRF traded up $0.05 on Tuesday, hitting $41.26. 124,546 shares of the company were exchanged, compared to its average volume of 182,374. The firm has a 50-day moving average price of $38.77 and a two-hundred day moving average price of $37.34. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.06. Orrstown Financial Services has a twelve month low of $31.51 and a twelve month high of $42.54. The company has a market cap of $810.76 million, a price-to-earnings ratio of 9.44 and a beta of 0.70.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ORRF shares. Weiss Ratings reissued a “buy (b)” rating on shares of Orrstown Financial Services in a research note on Tuesday, July 7th. DA Davidson started coverage on shares of Orrstown Financial Services in a research note on Friday, May 15th. They set a “neutral” rating and a $41.00 target price on the stock. Finally, Raymond James Financial assumed coverage on shares of Orrstown Financial Services in a report on Thursday, July 9th. They set a “market perform” rating on the stock. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.67.

Get Our Latest Research Report on Orrstown Financial Services

Hedge Funds Weigh In On Orrstown Financial Services

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP acquired a new position in shares of Orrstown Financial Services during the third quarter worth about $42,000. Raymond James Financial Inc. acquired a new position in Orrstown Financial Services during the 2nd quarter worth approximately $45,000. Tower Research Capital LLC TRC grew its holdings in Orrstown Financial Services by 86.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,748 shares of the bank’s stock worth $56,000 after acquiring an additional 810 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Orrstown Financial Services by 220.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,070 shares of the bank’s stock valued at $70,000 after purchasing an additional 1,424 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Orrstown Financial Services by 120.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,061 shares of the bank’s stock valued at $138,000 after purchasing an additional 2,221 shares during the last quarter. Hedge funds and other institutional investors own 44.27% of the company’s stock.

About Orrstown Financial Services

(Get Free Report)

Orrstown Financial Services, Inc is the bank holding company for Orrstown Bank, a community banking organization headquartered in Shippensburg, Pennsylvania. The roots of Orrstown Bank date back to 1865, and the holding company structure was established to support its growth and diversification. As a regional financial institution, Orrstown Financial Services focuses on delivering personalized banking solutions to individuals, families and businesses across Central Pennsylvania.

The company’s core offerings include a full suite of deposit products such as checking and savings accounts, money market accounts and certificates of deposit.

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Earnings History for Orrstown Financial Services (NASDAQ:ORRF)

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