Orrstown Financial Services (NASDAQ:ORRF) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Orrstown Financial Services (NASDAQ:ORRF) announced its earnings results on Tuesday. The bank reported $1.17 EPS for the quarter, beating the consensus estimate 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 Performance

NASDAQ:ORRF traded up $0.79 during trading hours on Tuesday, reaching $42.10. The stock had a trading volume of 70,459 shares, compared to its average volume of 155,051. The stock has a 50 day simple moving average of $41.94 and a 200 day simple moving average of $40.03. Orrstown Financial Services has a 12-month low of $32.50 and a 12-month high of $43.81. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market cap of $828.11 million, a P/E ratio of 9.46 and a beta of 0.69.

Wall Street Analyst Weigh In

ORRF has been the subject of a number of recent analyst reports. Hovde Group upped their price objective on shares of Orrstown Financial Services from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. DA Davidson reiterated a “neutral” rating and issued a $41.00 price objective on shares of Orrstown Financial Services in a research note on Wednesday, July 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Orrstown Financial Services in a research report on Friday, October 2nd. Keefe, Bruyette & Woods boosted their target price on Orrstown Financial Services from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Finally, Raymond James Financial initiated coverage on Orrstown Financial Services in a research note on Thursday, July 9th. They issued a “market perform” rating on the stock. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.33.

Insider Buying and Selling at Orrstown Financial Services

In other Orrstown Financial Services news, EVP Amy Doll sold 3,002 shares of the firm’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $41.61, for a total value of $124,913.22. Following the completion of the transaction, the executive vice president directly owned 25,669 shares of the company’s stock, valued at $1,068,087.09. This trade represents a 10.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.30% of the stock is currently owned by corporate insiders.

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.