Orrstown Financial Services (NASDAQ:ORRF) Posts Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Orrstown Financial Services (NASDAQ:ORRF) released its quarterly earnings data on Tuesday. The bank reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.19, Yahoo Finance reports. The company had revenue of $95.37 million for the quarter, compared to analyst estimates of $60.90 million. Orrstown Financial Services had a net margin of 17.26% and a return on equity of 13.45%.

Orrstown Financial Services Trading Up 3.2 %

NASDAQ ORRF opened at $37.56 on Thursday. The company has a market cap of $402.68 million, a price-to-earnings ratio of 11.21 and a beta of 0.90. Orrstown Financial Services has a twelve month low of $20.00 and a twelve month high of $38.81. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. The business’s fifty day moving average is $35.36 and its 200 day moving average is $30.43.

Orrstown Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Tuesday, November 5th. Orrstown Financial Services’s payout ratio is 27.46%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ORRF shares. Hovde Group raised their target price on shares of Orrstown Financial Services from $37.00 to $42.00 and gave the stock an “outperform” rating in a report on Wednesday. Janney Montgomery Scott started coverage on Orrstown Financial Services in a research note on Friday, June 28th. They issued a “buy” rating and a $32.00 price objective on the stock.

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.