Orrstown Financial Services (NASDAQ:ORRF) Issues Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Orrstown Financial Services (NASDAQ:ORRF) issued its quarterly earnings data on Tuesday. The bank reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.19, Yahoo Finance reports. Orrstown Financial Services had a return on equity of 13.45% and a net margin of 17.26%.

Orrstown Financial Services Stock Up 6.0 %

Shares of NASDAQ ORRF traded up $2.19 during mid-day trading on Wednesday, hitting $38.59. The company had a trading volume of 30,388 shares, compared to its average volume of 74,061. The company has a market capitalization of $747.49 million, a PE ratio of 12.34 and a beta of 0.90. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87. Orrstown Financial Services has a 1-year low of $20.00 and a 1-year high of $38.81. The business’s 50-day simple moving average is $35.26 and its 200 day simple moving average is $30.38.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ORRF shares. Hovde Group increased their price objective on Orrstown Financial Services from $37.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday. Janney Montgomery Scott initiated coverage on Orrstown Financial Services in a research report on Friday, June 28th. They set a “buy” rating and a $32.00 price target for the company.

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.