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

Orrstown Financial Services (NASDAQ:ORRF) posted its quarterly earnings results on Tuesday. The bank reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.03, Zacks reports. Orrstown Financial Services had a return on equity of 14.39% and a net margin of 20.48%.

Orrstown Financial Services Stock Up 0.1%

Shares of ORRF stock traded up $0.02 during midday trading on Tuesday, reaching $36.06. 174,404 shares of the stock were exchanged, compared to its average volume of 285,706. Orrstown Financial Services has a 1 year low of $25.57 and a 1 year high of $38.38. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $36.23 and its two-hundred day moving average is $34.73. The firm has a market cap of $703.17 million, a PE ratio of 9.54 and a beta of 0.82.

Institutional Trading of Orrstown Financial Services

A number of large investors have recently made changes to their positions in ORRF. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Orrstown Financial Services by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,009 shares of the bank’s stock worth $330,000 after purchasing an additional 490 shares in the last quarter. Millennium Management LLC increased its stake in Orrstown Financial Services by 123.8% during the first quarter. Millennium Management LLC now owns 330,322 shares of the bank’s stock worth $9,913,000 after acquiring an additional 182,709 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Orrstown Financial Services by 2.9% during the first quarter. Goldman Sachs Group Inc. now owns 85,047 shares of the bank’s stock valued at $2,552,000 after acquiring an additional 2,417 shares during the last quarter. Jane Street Group LLC purchased a new position in Orrstown Financial Services during the 1st quarter valued at $1,080,000. Finally, Creative Planning purchased a new stake in shares of Orrstown Financial Services in the second quarter valued at approximately $365,000. 44.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Orrstown Financial Services in a research report on Thursday. Zacks Research downgraded shares of Orrstown Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Orrstown Financial Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

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.