Orrstown Financial Services (NASDAQ:ORRF) Posts Earnings Results, Beats Estimates By $0.08 EPS

Orrstown Financial Services (NASDAQ:ORRF) released its quarterly earnings data on Tuesday. The bank reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.08, Zacks reports. Orrstown Financial Services had a net margin of 23.58% and a return on equity of 14.96%. The company had revenue of $64.58 million for the quarter, compared to analysts’ expectations of $63.20 million.

Orrstown Financial Services Price Performance

Shares of NASDAQ ORRF opened at $35.87 on Thursday. Orrstown Financial Services has a fifty-two week low of $28.14 and a fifty-two week high of $40.72. The stock has a market cap of $703.77 million, a price-to-earnings ratio of 8.21 and a beta of 0.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.87. The firm’s 50-day simple moving average is $36.47 and its 200 day simple moving average is $35.87.

Orrstown Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 12th. Investors of record on Tuesday, May 5th will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, May 5th. This represents a $1.20 annualized dividend and a yield of 3.3%. Orrstown Financial Services’s dividend payout ratio (DPR) is presently 28.71%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Weiss Ratings raised shares of Orrstown Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Hovde Group raised their price target on shares of Orrstown Financial Services from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Orrstown Financial Services currently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Insiders Place Their Bets

In other Orrstown Financial Services news, Director Brian D. Brunner purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The shares were acquired at an average price of $34.02 per share, with a total value of $34,020.00. Following the transaction, the director owned 50,529 shares in the company, valued at $1,718,996.58. The trade was a 2.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Orrstown Financial Services

Hedge funds have recently modified their holdings of the company. Tudor Investment Corp ET AL bought a new position in shares of Orrstown Financial Services during the 4th quarter worth approximately $320,000. Graham Capital Management L.P. bought a new position in shares of Orrstown Financial Services during the 4th quarter worth approximately $319,000. Curi Capital LLC bought a new position in shares of Orrstown Financial Services during the 2nd quarter worth approximately $293,000. Integrated Quantitative Investments LLC bought a new position in shares of Orrstown Financial Services during the 4th quarter worth approximately $279,000. Finally, Oxford Asset Management LLP bought a new position in shares of Orrstown Financial Services during the 2nd quarter worth approximately $263,000. Institutional investors own 44.27% of the company’s stock.

Orrstown Financial Services Company Profile

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.