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

Orrstown Financial Services (NASDAQ:ORRF) released its quarterly earnings data on Tuesday. The bank reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.07, Zacks reports. Orrstown Financial Services had a return on equity of 14.46% and a net margin of 24.00%.

Orrstown Financial Services Trading Up 1.9%

Shares of NASDAQ:ORRF traded up $0.79 during mid-day trading on Tuesday, reaching $42.10. 70,766 shares of the company were exchanged, compared to its average volume of 155,160. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market cap of $828.11 million, a price-to-earnings ratio of 9.46 and a beta of 0.69. The firm’s 50-day simple moving average is $41.94 and its 200 day simple moving average is $40.03. Orrstown Financial Services has a 1 year low of $32.50 and a 1 year high of $43.81.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ORRF. Weiss Ratings reissued a “buy (b)” rating on shares of Orrstown Financial Services in a research note on Friday, October 2nd. Raymond James Financial assumed coverage on Orrstown Financial Services in a research note on Thursday, July 9th. They issued a “market perform” rating on the stock. 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 raised 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 set a $41.00 price objective on shares of Orrstown Financial Services in a research report on Wednesday, July 22nd. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $44.33.

Insiders Place Their Bets

In other Orrstown Financial Services news, EVP Amy Doll sold 3,002 shares of the business’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 value of $124,913.22. Following the sale, the executive vice president owned 25,669 shares of the company’s stock, valued at $1,068,087.09. The trade was a 10.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.30% of the company’s stock.

About Orrstown Financial Services

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.