Orrstown Financial Services (NASDAQ:ORRF) Announces Earnings Results

Orrstown Financial Services (NASDAQ:ORRF) issued its quarterly earnings data on Friday. The bank reported $0.87 earnings per share (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 Stock Down 0.7 %

ORRF stock opened at $36.34 on Friday. Orrstown Financial Services has a 1-year low of $24.70 and a 1-year high of $41.99. The business’s 50 day simple moving average is $37.17 and its 200 day simple moving average is $36.18. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $704.63 million, a PE ratio of 19.54 and a beta of 0.91.

Orrstown Financial Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 14th will be paid a $0.26 dividend. This is a positive change from Orrstown Financial Services’s previous quarterly dividend of $0.23. This represents a $1.04 annualized dividend and a yield of 2.86%. Orrstown Financial Services’s dividend payout ratio is currently 49.46%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ORRF shares. Piper Sandler assumed coverage on Orrstown Financial Services in a research note on Wednesday, January 8th. They issued an “overweight” rating and a $43.00 price target on the stock. Hovde Group downgraded 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.