Orrstown Financial Services (NASDAQ:ORRF) Announces Earnings Results

Orrstown Financial Services (NASDAQ:ORRF) issued its quarterly earnings data on Tuesday. The bank reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.06, Zacks reports. Orrstown Financial Services had a net margin of 23.58% and a return on equity of 14.75%.

Orrstown Financial Services Stock Up 0.1%

NASDAQ:ORRF traded up $0.05 during trading hours on Tuesday, hitting $41.26. 124,546 shares of the company traded hands, compared to its average volume of 182,374. The firm’s 50-day simple moving average is $38.77 and its 200-day simple moving average is $37.34. Orrstown Financial Services has a one year low of $31.51 and a one year high of $42.54. The company has a market cap of $810.76 million, a PE ratio of 9.44 and a beta of 0.70. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.06.

Wall Street Analysts Forecast Growth

ORRF has been the subject of a number of recent research reports. Raymond James Financial started coverage on shares of Orrstown Financial Services in a report on Thursday, July 9th. They set a “market perform” rating for the company. DA Davidson initiated coverage on Orrstown Financial Services in a research report on Friday, May 15th. They issued a “neutral” rating and a $41.00 price target for the company. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Orrstown Financial Services in a research report on Tuesday, July 7th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $41.67.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ORRF. Quarry LP purchased a new stake in Orrstown Financial Services in the third quarter worth about $42,000. Raymond James Financial Inc. bought a new position in Orrstown Financial Services in the 2nd quarter worth $45,000. Tower Research Capital LLC TRC increased its stake in Orrstown Financial Services by 86.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,748 shares of the bank’s stock worth $56,000 after buying an additional 810 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Orrstown Financial Services by 220.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,070 shares of the bank’s stock valued at $70,000 after acquiring an additional 1,424 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Orrstown Financial Services by 120.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,061 shares of the bank’s stock valued at $138,000 after acquiring an additional 2,221 shares during the last quarter. 44.27% of the stock is owned by hedge funds and other institutional investors.

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.