Orrstown Financial Services (NASDAQ:ORRF) released its earnings results on Wednesday. The bank reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.06, MarketWatch Earnings reports. Orrstown Financial Services had a return on equity of 9.92% and a net margin of 14.34%. The business had revenue of $18.20 million during the quarter, compared to the consensus estimate of $17.87 million.
Shares of NASDAQ ORRF opened at $23.66 on Friday. The firm has a market capitalization of $197.50 million, a PE ratio of 18.20 and a beta of 0.21. Orrstown Financial Services has a fifty-two week low of $22.15 and a fifty-two week high of $27.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.77 and a quick ratio of 0.77.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 5th. Stockholders of record on Monday, October 29th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, October 26th. Orrstown Financial Services’s dividend payout ratio (DPR) is presently 40.00%.
A number of research firms have issued reports on ORRF. Zacks Investment Research raised Orrstown Financial Services from a “hold” rating to a “strong-buy” rating and set a $31.00 target price for the company in a research report on Tuesday, July 24th. ValuEngine cut Orrstown Financial Services from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $34.00 price target on shares of Orrstown Financial Services in a research report on Thursday, July 19th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Orrstown Financial Services in a research report on Thursday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $32.50.
Orrstown Financial Services Company Profile
Orrstown Financial Services, Inc operates as the holding company for Orrstown Bank that provides commercial banking and trust services in the United States. The company accepts various deposits, including checking, savings, time, demand, and money market deposits. It also offers commercial loans, such as commercial real estate, equipment, working capital, and other commercial purpose loans; consumer loans comprising home equity and other consumer loans, as well as home equity lines of credit; residential mortgage loans; agribusiness loans; acquisition and development loans; municipal loans; and installment and other loans.
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