Orrstown Financial Services (NASDAQ:ORRF) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Key Points

• Orrstown Financial Services reported a quarterly earnings per share (EPS) of $1.13, exceeding analysts' expectations of $1.07 by $0.06.
• The company has a return on equity of 14.69% and a net margin of 11.97%, indicating solid financial performance.
• Analysts have mixed reviews on the stock, with a consensus rating of "Moderate Buy" and a price target of $39.25.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) announced its quarterly earnings data on Tuesday. The bank reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.06, Zacks reports. Orrstown Financial Services had a return on equity of 14.69% and a net margin of 11.97%.

Orrstown Financial Services Stock Performance

ORRF traded up $0.07 on Tuesday, reaching $33.38. The company had a trading volume of 189,588 shares, compared to its average volume of 141,927. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.13. Orrstown Financial Services has a 1 year low of $25.57 and a 1 year high of $41.99. The stock has a market capitalization of $650.61 million, a PE ratio of 14.90 and a beta of 0.83. The stock has a 50-day moving average price of $34.20 and a 200-day moving average price of $31.97.

Analyst Upgrades and Downgrades

Several research analysts have commented on ORRF shares. Wall Street Zen cut shares of Orrstown Financial Services from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Zacks Research cut shares of Orrstown Financial Services from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 3rd. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $42.00 target price (up previously from $39.00) on shares of Orrstown Financial Services in a report on Thursday, July 24th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Orrstown Financial Services in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $39.25.

Institutional Trading of Orrstown Financial Services

A number of large investors have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in Orrstown Financial Services during the second quarter worth approximately $45,000. Tower Research Capital LLC TRC grew its position in shares of Orrstown Financial Services by 86.4% during the second 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 during the last quarter. Oxford Asset Management LLP acquired a new position in shares of Orrstown Financial Services in the 2nd quarter valued at $263,000. Vista Investment Management raised its position in Orrstown Financial Services by 5.6% in the 2nd quarter. Vista Investment Management now owns 8,444 shares of the bank's stock valued at $269,000 after purchasing an additional 450 shares during the last quarter. Finally, Curi Capital LLC acquired a new stake in Orrstown Financial Services during the 2nd quarter worth $293,000. 44.27% of the stock is owned by institutional investors and hedge funds.

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.

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