Orrstown Financial Services (NASDAQ:ORRF) Posts Earnings Results, Beats Estimates By $0.16 EPS

Orrstown Financial Services (NASDAQ:ORRFGet Rating) announced its quarterly earnings data on Tuesday. The bank reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.16, Fidelity Earnings reports. Orrstown Financial Services had a net margin of 26.77% and a return on equity of 12.40%.

NASDAQ:ORRF traded up $2.66 during mid-day trading on Wednesday, hitting $24.75. The company’s stock had a trading volume of 1,778 shares, compared to its average volume of 22,654. Orrstown Financial Services has a fifty-two week low of $21.35 and a fifty-two week high of $25.91. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $275.74 million, a price-to-earnings ratio of 7.46 and a beta of 0.94. The stock has a fifty day moving average of $23.43 and a 200-day moving average of $24.08.

ORRF has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Orrstown Financial Services from a “sell” rating to a “hold” rating and set a $26.00 price objective for the company in a research report on Saturday, March 26th. StockNews.com began coverage on shares of Orrstown Financial Services in a research report on Thursday, March 31st. They issued a “buy” rating for the company.

In other news, EVP Barbara E. Brobst sold 2,946 shares of the firm’s stock in a transaction that occurred on Tuesday, January 25th. The shares were sold at an average price of $25.11, for a total transaction of $73,974.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Floyd E. Stoner acquired 2,464 shares of the company’s stock in a transaction dated Tuesday, February 22nd. The shares were purchased at an average cost of $24.66 per share, with a total value of $60,762.24. The disclosure for this purchase can be found here. Corporate insiders own 4.83% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Citigroup Inc. increased its holdings in shares of Orrstown Financial Services by 118.3% during the fourth quarter. Citigroup Inc. now owns 2,766 shares of the bank’s stock worth $70,000 after buying an additional 1,499 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Orrstown Financial Services by 82.2% during the third quarter. BNP Paribas Arbitrage SA now owns 3,126 shares of the bank’s stock worth $73,000 after buying an additional 1,410 shares in the last quarter. Barclays PLC grew its stake in shares of Orrstown Financial Services by 83.2% during the fourth quarter. Barclays PLC now owns 19,327 shares of the bank’s stock valued at $487,000 after purchasing an additional 8,777 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Orrstown Financial Services by 3.0% during the third quarter. Royal Bank of Canada now owns 23,678 shares of the bank’s stock valued at $553,000 after purchasing an additional 691 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake in shares of Orrstown Financial Services by 2.1% during the fourth quarter. Parametric Portfolio Associates LLC now owns 34,236 shares of the bank’s stock valued at $863,000 after purchasing an additional 719 shares during the last quarter. 43.54% of the stock is owned by institutional investors.

Orrstown Financial Services Company Profile (Get Rating)

Orrstown Financial Services, Inc operates as the holding company for Orrstown Bank that provides commercial banking and trust services in the United States. The company accepts various deposits, including checking, savings, time, demand, and money market deposits. It also offers commercial loans, such as commercial real estate, equipment, construction, working capital, and other commercial purpose loans, as well as industrial loans; consumer loans comprising home equity and other consumer loans, as well as home equity lines of credit; residential mortgage loans; acquisition and development loans; municipal loans; and installment and other loans.

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Earnings History for Orrstown Financial Services (NASDAQ:ORRF)

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