Orrstown Financial Services (NASDAQ:ORRF) Announces Earnings Results

Orrstown Financial Services (NASDAQ:ORRF) released its earnings results on Friday. The bank reported $0.87 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.17), Zacks reports. Orrstown Financial Services had a return on equity of 14.41% and a net margin of 6.63%.

Orrstown Financial Services Price Performance

NASDAQ ORRF traded up $0.07 during trading hours on Friday, reaching $36.68. The company’s stock had a trading volume of 39,072 shares, compared to its average volume of 105,865. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 0.88. The company’s 50-day moving average is $37.25 and its two-hundred day moving average is $36.13. Orrstown Financial Services has a fifty-two week low of $24.70 and a fifty-two week high of $41.99. The stock has a market cap of $711.15 million, a PE ratio of 19.73 and a beta of 0.91.

Orrstown Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 14th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.84%. This is an increase from Orrstown Financial Services’s previous quarterly dividend of $0.23. Orrstown Financial Services’s payout ratio is 49.46%.

Analyst Upgrades and Downgrades

ORRF has been the topic of several research analyst reports. Hovde Group lowered shares of Orrstown Financial Services from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 13th. Piper Sandler started coverage on shares of Orrstown Financial Services in a report on Wednesday, January 8th. They set an “overweight” rating and a $43.00 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.