Orrstown Financial Services (NASDAQ:ORRF) Announces Quarterly Earnings Results

Orrstown Financial Services (NASDAQ:ORRF) issued its quarterly earnings results on Friday. The bank reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates 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 Trading Up 0.2 %

NASDAQ:ORRF traded up $0.07 on Friday, hitting $36.68. 39,072 shares of the stock were exchanged, compared to its average volume of 105,865. The stock has a fifty day moving average of $37.25 and a 200-day moving average of $36.13. The stock has a market cap of $711.15 million, a PE ratio of 19.73 and a beta of 0.91. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. Orrstown Financial Services has a fifty-two week low of $24.70 and a fifty-two week high of $41.99.

Orrstown Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 14th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.84%. This is a boost from Orrstown Financial Services’s previous quarterly dividend of $0.23. Orrstown Financial Services’s dividend payout ratio (DPR) is presently 49.46%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ORRF. Piper Sandler initiated coverage on Orrstown Financial Services in a research report on Wednesday, January 8th. They set an “overweight” rating and a $43.00 target price on the stock. Hovde Group lowered shares of Orrstown Financial Services from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 13th.

About Orrstown Financial Services

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.