Orrstown Financial Services (NASDAQ:ORRF) Posts Quarterly Earnings Results, Misses Estimates By $0.17 EPS

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) announced its earnings results on Friday. The bank reported $0.87 earnings per share for the quarter, missing analysts' consensus estimates of $1.04 by ($0.17), Zacks reports. Orrstown Financial Services had a return on equity of 15.77% and a net margin of 7.70%.

Orrstown Financial Services Stock Performance

Shares of ORRF stock traded down $0.31 on Tuesday, reaching $34.33. The stock had a trading volume of 125,625 shares, compared to its average volume of 115,810. Orrstown Financial Services has a 12 month low of $24.70 and a 12 month high of $41.99. The firm has a market capitalization of $665.66 million, a price-to-earnings ratio of 18.66 and a beta of 0.90. The firm's 50-day moving average is $37.06 and its two-hundred day moving average is $36.27. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.13.

Orrstown Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 14th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, February 14th. 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 dividend yield of 3.03%. Orrstown Financial Services's payout ratio is currently 50.00%.

Analyst Upgrades and Downgrades

ORRF has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $42.00 target price (down previously from $46.00) on shares of Orrstown Financial Services in a research report on Monday. Hovde Group lowered shares of Orrstown Financial Services from an "outperform" rating to a "market perform" rating in a research note on Wednesday, November 13th. Finally, Piper Sandler started coverage on shares of Orrstown Financial Services in a research note on Wednesday, January 8th. They set an "overweight" rating and a $43.00 price objective 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.