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

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) released 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. The business had revenue of $95.37 million for the quarter, compared to analyst estimates of $60.90 million. Orrstown Financial Services had a net margin of 17.26% and a return on equity of 13.45%.

Orrstown Financial Services Stock Performance

Shares of ORRF traded up $1.16 during midday trading on Wednesday, reaching $37.56. 212,718 shares of the stock were exchanged, compared to its average volume of 75,140. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. The stock's 50 day simple moving average is $35.26 and its 200 day simple moving average is $30.38. Orrstown Financial Services has a twelve month low of $20.00 and a twelve month high of $38.81. The company has a market cap of $727.54 million, a P/E ratio of 12.34 and a beta of 0.90.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ORRF. Hovde Group boosted their price target 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 assumed coverage on shares of Orrstown Financial Services in a research report on Friday, June 28th. They set a "buy" rating and a $32.00 price objective for the company.

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.