Orrstown Financial Services (NASDAQ:ORRF) Posts Earnings Results, Beats Estimates By $0.10 EPS

Orrstown Financial Services (NASDAQ:ORRF) posted its quarterly earnings results on Tuesday. The bank reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.10, Zacks reports. The company had revenue of $50.45 million during the quarter, compared to analyst estimates of $31.60 million. Orrstown Financial Services had a net margin of 18.99% and a return on equity of 14.31%.

Orrstown Financial Services Stock Performance

Shares of NASDAQ:ORRF traded up $1.55 during trading on Wednesday, hitting $33.75. 133,482 shares of the company were exchanged, compared to its average volume of 71,135. The company has a market cap of $361.80 million, a PE ratio of 10.03 and a beta of 0.91. The stock has a 50 day moving average of $27.01 and a 200 day moving average of $26.81. Orrstown Financial Services has a 52-week low of $19.30 and a 52-week high of $34.73. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.88 and a quick ratio of 0.88.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Janney Montgomery Scott assumed 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 for the company. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $32.00 target price on shares of Orrstown Financial Services in a research report on Tuesday, June 18th. Finally, Hovde Group upped their price target on Orrstown Financial Services from $33.00 to $37.00 and gave the company an “outperform” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Orrstown Financial Services currently has a consensus rating of “Moderate Buy” and an average price target of $31.50.

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.