Orrstown Financial Services (NASDAQ:ORRF) posted its quarterly earnings results on Monday. The bank reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.06, MarketWatch Earnings reports. Orrstown Financial Services had a return on equity of 13.73% and a net margin of 24.62%.
ORRF stock traded up $0.86 during trading hours on Wednesday, reaching $23.58. 20,510 shares of the stock were exchanged, compared to its average volume of 30,733. The firm’s 50-day simple moving average is $24.26. The company has a market cap of $265.53 million, a P/E ratio of 8.24 and a beta of 1.00. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 0.91. Orrstown Financial Services has a 12 month low of $12.40 and a 12 month high of $25.91.
Separately, Zacks Investment Research raised Orrstown Financial Services from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Wednesday, June 30th.
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, working capital, construction, 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; agribusiness loans; acquisition and development loans; municipal loans; and installment and other loans.
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