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

Orrstown Financial Services (NASDAQ:ORRF) released its quarterly earnings data on Friday. The bank reported $0.87 earnings per share 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 Stock Performance

ORRF traded down $0.02 on Friday, reaching $36.60. The company had a trading volume of 69,607 shares, compared to its average volume of 107,628. The company’s fifty day moving average is $37.25 and its 200 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 $709.58 million, a P/E ratio of 19.68 and a beta of 0.91. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 0.88.

Orrstown Financial Services Increases Dividend

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

Analyst Ratings Changes

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

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.