Orrstown Financial Services (NASDAQ:ORRF) Releases Earnings Results, Beats Estimates By $0.07 EPS

Key Points

• Orrstown Financial Services beat earnings expectations, reporting quarterly EPS of $1.17 versus the $1.10 analyst consensus. The company posted a 24.00% net margin and 14.46% return on equity.
• Shares rose 1.9% to $42.10, near the stock’s 12-month high of $43.81. Orrstown has a market capitalization of approximately $828 million and a price-to-earnings ratio of 9.46.
• Analysts maintain a “Moderate Buy” consensus, with three Buy ratings and two Holds and an average price target of $44.33; meanwhile, an executive sold 3,002 shares in a reported insider transaction.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) issued its quarterly earnings results on Tuesday. The bank reported $1.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.07, Zacks reports. Orrstown Financial Services had a net margin of 24.00% and a return on equity of 14.46%.

Orrstown Financial Services Stock Up 1.9%

NASDAQ ORRF traded up $0.79 on Tuesday, hitting $42.10. 70,459 shares of the company were exchanged, compared to its average volume of 155,051. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.01. The company has a market cap of $828.11 million, a PE ratio of 9.46 and a beta of 0.69. The stock has a fifty day moving average of $41.94 and a 200-day moving average of $40.03. Orrstown Financial Services has a 12 month low of $32.50 and a 12 month high of $43.81.

Insider Buying and Selling

In related news, EVP Amy Doll sold 3,002 shares of the company's stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $41.61, for a total transaction of $124,913.22. Following the transaction, the executive vice president directly owned 25,669 shares of the company's stock, valued at approximately $1,068,087.09. This represents a 10.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.30% of the stock is owned by insiders.

Analyst Ratings Changes

ORRF has been the subject of a number of analyst reports. Raymond James Financial started coverage on shares of Orrstown Financial Services in a research note on Thursday, July 9th. They set a "market perform" rating for the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Orrstown Financial Services in a research report on Friday, October 2nd. Keefe, Bruyette & Woods increased their price target on Orrstown Financial Services from $44.00 to $46.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Hovde Group lifted their price objective on Orrstown Financial Services from $42.00 to $46.00 and gave the stock an "outperform" rating in a research report on Monday, July 27th. Finally, DA Davidson reissued a "neutral" rating and issued a $41.00 price objective on shares of Orrstown Financial Services in a research note on Wednesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $44.33.

Orrstown Financial Services Company Profile

Orrstown Financial Services, Inc is a bank holding company headquartered in Shippensburg, Pennsylvania. Through its principal subsidiary, Orrstown Bank, the company provides banking and financial services to individuals, families, businesses, and institutions.

Orrstown Bank offers deposit accounts, consumer and commercial lending, mortgage banking, cash-management and treasury services, online and mobile banking, and wealth-management services. Its lending activities include residential mortgages, home-equity loans, consumer loans, commercial real estate financing, and loans to small and middle-market businesses.

Orrstown Financial Services traces its history to the founding of Orrstown Bank in 1919.

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