Orrstown Financial Services (NASDAQ:ORRF – Get 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.
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
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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