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

Posted by Jim Brewer on Oct 25th, 2024

Orrstown Financial Services (NASDAQ:ORRF – Get Free Report) released its quarterly earnings data on Tuesday. The bank reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.19, Yahoo Finance reports. The firm had revenue of $95.37 million for the quarter, compared to the consensus estimate of $60.90 million. Orrstown Financial Services had a return on equity of 17.66% and a net margin of 6.63%.

Orrstown Financial Services Stock Performance

NASDAQ:ORRF opened at $37.75 on Friday. The firm has a market capitalization of $731.22 million, a PE ratio of 20.30 and a beta of 0.90. Orrstown Financial Services has a 1 year low of $20.25 and a 1 year high of $38.81. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12. The firm’s fifty day simple moving average is $35.46 and its 200 day simple moving average is $30.49.

Orrstown Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend is Tuesday, November 5th. Orrstown Financial Services’s payout ratio is 49.46%.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Research Report on Orrstown Financial Services

About Orrstown Financial Services

(Get Free Report)

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.