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. In addition, the company provides renders services as trustee, executor, administrator, guardian, managing agent, custodian, and investment advisor, as well as provides other fiduciary services under the Orrstown Financial Advisors name; and offers retail brokerage services through a third-party broker/dealer arrangement. Further, it offers investment advisory, insurance, and brokerage services. The company operates through offices in Berks, Cumberland, Dauphin, Franklin, Lancaster, Perry, and York counties, Pennsylvania; and Anne Arundel, Baltimore, Howard, and Washington counties, Maryland, as well as Baltimore City, Maryland. Orrstown Financial Services, Inc. was founded in 1919 and is headquartered in Shippensburg, Pennsylvania.
IPO Year:
Exchange: NASDAQ
Website: orrstown.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/13/2024 | Outperform → Market Perform | Hovde Group | |
| 10/23/2024 | $37.00 → $42.00 | Outperform | Hovde Group |
| 7/24/2024 | $33.00 → $37.00 | Outperform | Hovde Group |
| 6/28/2024 | $32.00 | Buy | Janney |
| 4/24/2024 | $34.00 → $33.00 | Outperform | Hovde Group |
| 11/17/2022 | $28.00 | Neutral | Piper Sandler |
4 - ORRSTOWN FINANCIAL SERVICES INC (0000826154) (Issuer)
4 - ORRSTOWN FINANCIAL SERVICES INC (0000826154) (Issuer)
4 - ORRSTOWN FINANCIAL SERVICES INC (0000826154) (Issuer)
4 - ORRSTOWN FINANCIAL SERVICES INC (0000826154) (Issuer)
4 - ORRSTOWN FINANCIAL SERVICES INC (0000826154) (Issuer)
4 - ORRSTOWN FINANCIAL SERVICES INC (0000826154) (Issuer)
4 - ORRSTOWN FINANCIAL SERVICES INC (0000826154) (Issuer)
4 - ORRSTOWN FINANCIAL SERVICES INC (0000826154) (Issuer)
4 - ORRSTOWN FINANCIAL SERVICES INC (0000826154) (Issuer)
4 - ORRSTOWN FINANCIAL SERVICES INC (0000826154) (Issuer)
10-Q - ORRSTOWN FINANCIAL SERVICES INC (0000826154) (Filer)
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8-K/A - ORRSTOWN FINANCIAL SERVICES INC (0000826154) (Filer)
8-K/A - ORRSTOWN FINANCIAL SERVICES INC (0000826154) (Filer)
10-Q - ORRSTOWN FINANCIAL SERVICES INC (0000826154) (Filer)
8-K - ORRSTOWN FINANCIAL SERVICES INC (0000826154) (Filer)
8-K - ORRSTOWN FINANCIAL SERVICES INC (0000826154) (Filer)
Hovde Group downgraded Orrstown Financial Services from Outperform to Market Perform
Hovde Group reiterated coverage of Orrstown Financial Services with a rating of Outperform and set a new price target of $42.00 from $37.00 previously
Hovde Group reiterated coverage of Orrstown Financial Services with a rating of Outperform and set a new price target of $37.00 from $33.00 previously
Janney initiated coverage of Orrstown Financial Services with a rating of Buy and set a new price target of $32.00
Hovde Group reiterated coverage of Orrstown Financial Services with a rating of Outperform and set a new price target of $33.00 from $34.00 previously
Piper Sandler resumed coverage of Orrstown Financial Services with a rating of Neutral and set a new price target of $28.00
SHIPPENSBURG, Pa., March 10, 2022 (GLOBE NEWSWIRE) -- Orrstown Financial Services, Inc. (NASDAQ:ORRF) (the "Company") today announced that Meera R. Modi has been appointed to an open position on the Boards of Directors of the Company and its principal subsidiary, Orrstown Bank, effective immediately. "Meera is an incredibly valuable addition to our Board of Directors," said Joel Zullinger, Chairman of the Board of Directors, Orrstown Bank. "Her experience, along with her alignment of our core mission, vision, and values, will serve as an excellent resource for both our board and management team." Ms. Modi is a member with the law firm McNees Wallace & Nurick LLC, Harrisburg, PA, focusing
SHIPPENSBURG, Pa., March 31, 2021 (GLOBE NEWSWIRE) -- Orrstown Financial Services, Inc. (the “Company”) (NASDAQ: ORRF), the parent company of Orrstown Bank (the “Bank”), announced today that Thomas R. Brugger, Executive Vice President, Chief Financial Officer is retiring effective April 27, 2021. Neelesh Kalani, CPA, who joined the Company in February 2020 and has been serving as Senior Vice President, Chief Accounting Officer since March 2020, will be promoted to Executive Vice President and Chief Financial Officer effective April 28, 2021. In his new role, Mr. Kalani will be responsible for the Company’s financial plans, policies, and financial compliance. Mr. Kalani is a graduate
The Board of Directors declared a cash dividend of $0.23 per common share, payable August 15, 2024, to shareholders of record as of August 8, 2024; this represents an increase in the Company's quarterly cash dividend of $0.03 per share, or 15%.
Orrstown Finl Servs (NASDAQ:ORRF) reported quarterly earnings of $0.83 per share which beat the analyst consensus estimate of $0.73 by 13.7 percent. This is a 11.7 percent decrease over earnings of $0.94 per share from the same period last year. The company reported quarterly sales of $26.10 million which beat the analyst consensus estimate of $25.97 million by 0.51 percent. This is a 1.03 percent decrease over sales of $26.38 million the same period last year.
Janney Montgomery Scott analyst Daniel Cardenas initiates coverage on Orrstown Finl Servs (NASDAQ:ORRF) with a Buy rating and announces Price Target of $32.
Keefe, Bruyette & Woods analyst Timothy Switzer maintains Orrstown Finl Servs (NASDAQ:ORRF) with a Outperform and maintains $32 price target.
Orrstown Finl Servs (NASDAQ:ORRF) reported quarterly earnings of $0.88 per share which beat the analyst consensus estimate of $0.73 by 20.55 percent. The company reported quarterly sales of $26.881 million which beat the analyst consensus estimate of $25.804 million by 4.18 percent. This is a 2.23 percent increase over sales of $26.294 million the same period last year.
What is a Value Stock? A value stock traditionally has a lower price when compared to stock prices of companies in the same industry. This indicates that the company may be undervalued, as investors are not expressing as much interest in such companies. The most commonly used way to check for value is with the price-to-earnings multiple, or P/E. A low P/E multiple is a good indication that the stock is undervalued. The following stocks are considered to be notable value stocks in the financial services sector: Crescent Capital BDC (NASDAQ:CCAP) - P/E: 7.19 Mid Penn Bancorp (NASDAQ:MPB) - P/E: 8.93 Orrstown Finl Servs (NASDAQ:ORRF) - P/E: 7.74 Orange County Bancorp (NASDAQ:OBT) - P/E: 8.79
Friday marks the last chance for investors to receive the next dividend payout from Orrstown Finl Servs (NASDAQ:ORRF). What's Happening The company announced on Tuesday that it would pay shareholders a quarterly dividend of 20 cents per share. On Monday, Orrstown Finl Servs will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 20 cents lower than it would have opened on any other day. In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Monday. Shareholders who own ORRF as of the end of Friday's session are eligible to receive the 20 cents div
Keefe, Bruyette & Woods analyst Michael Perito maintains Orrstown Finl Servs (NASDAQ:ORRF) with a Outperform and raises the price target from $30 to $32.
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Orrstown Financial Services, Inc. ("Orrstown" or the "Company") closed the merger of equals transaction with Codorus Valley Bancorp, Inc. ("Codorus") on July 1, 2024, creating a premier Pennsylvania and Maryland community bank; as a result, the Company's results for the three months ended September 30, 2024 reflect the combined operating results of the combined companies;Codorus contributed, after fair value purchase accounting adjustments, approximately $2.2 billion in total assets, $1.6 billion in loans, and $1.9 billion in deposits at July 1, 2024;Net loss of $7.9 million, or $0.41 per diluted share, for the three months ended September 30, 2024 compared to net income of $7.7 million, or
Orrstown Financial Services, Inc. ("Orrstown" or the "Company") closed the merger of equals transaction with Codorus Valley Bancorp, Inc. ("Codorus") on July 1, 2024; as a result, the second quarter results reported in this release reflect Orrstown's standalone operating results and do not reflect the combined operating results of the two companies;Net income of $7.7 million and diluted earnings per share of $0.73 for the three months ended June 30, 2024 compared to net income of $8.5 million and diluted earnings per share of $0.81 for the three months ended March 31, 2024;Excluding the impact of $1.0 million in expenses related to the merger, net of taxes, net income and diluted earnings pe
First quarter net income of $4.3 million compared to net income of $7.0 million in the quarter ended March 31, 2023, and $5.5 million in the quarter ended December 31, 2023;Net interest margin of 3.34% for the quarter ended March 31, 2024, a 66-basis point decrease from the net interest margin of 4.00% for the quarter ended March 31, 2023;Tier 1 leverage capital ratio of 10.80% for the quarter ending March 31, 2024, a 60-basis point increase from the tier 1 leverage capital ratio of 10.20% for the quarter ending March 31, 2023;Year-to-date efficiency ratio of 73.91%; return on average assets of 0.77%; and return on equity of 8.48%;Cash dividend of $0.17 per common share payable on May 14, 20
Net income of $8.5 million and diluted earnings per share of $0.81 for the three months ended March 31, 2024 compared to net income of $7.6 million and diluted earnings per share of $0.73 for the three months ended December 31, 2023;Excluding the impact of $0.7 million in expenses related to the pending merger of equals transaction with Codorus Valley Bancorp, Inc., net income and diluted earnings per share, respectively, were $9.2 million(1) and $0.88(1) for the first quarter of 2024 compared to net income and diluted earnings per share of $8.6 million(1) and $0.83(1), respectively, excluding the impact of $1.1 million in merger-related expenses recorded for the fourth quarter of 2023;As a
Fourth quarter net income of $5.5 million compared to net income of $7.9 million in the quarter ended December 31, 2022, and $5.9 million in the quarter ended September 30, 2023;Net income of $25.0 million for the year ended December 31, 2023, compared to net income of $20.1 million for the year ended December 31, 2022;Net interest margin of 3.76% for the year ended December 31, 2023, a 37-basis point increase from the net interest margin of 3.39% for the year ended December 31, 2022;Year-to-date efficiency ratio of 65.75%; return on average assets of 1.15%; and return on equity of 13.47%;Continued improvement in credit metrics with nonperforming assets to total loans of 0.23% at December 31
Net income of $7.6 million and diluted earnings per share of $0.73 for the three months ended December 31, 2023 compared to net income of $9.0 million and diluted earnings per share of $0.87 for the three months ended September 30, 2023; net income of $35.7 million and diluted earnings per share of $3.42 for the year ended December 31, 2023 compared to net income of $22.0 million and diluted earnings per share of $2.06 for the year ended December 31, 2022;On December 12, 2023, the Company and Codorus Valley Bancorp, Inc. ("Codorus Valley") announced that they have entered into a merger agreement pursuant to which Codorus Valley will be merged with and into the Company in a merger of equals t
Net income of $9.0 million and diluted earnings per share of $0.87 for the three months ended September 30, 2023 compared to net income of $9.8 million and diluted earnings per share of $0.94 for the three months ended June 30, 2023;Net interest margin, on a tax equivalent basis, was 3.73% in the third quarter of 2023 as compared to 3.83% in the second quarter of 2023;Return on average assets of 1.18% and return on average equity of 14.42% for the third quarter of 2023 compared to return on average assets of 1.32% and return on average equity of 16.27% during the second quarter of 2023;Third quarter total loan growth was $32.4 million, or 6% annualized; year-to-date total loan growth was $11
Net income of $9.8 million and diluted earnings per share of $0.94 for the three months ended June 30, 2023 compared to net income of $9.2 million and diluted earnings per share of $0.87 for the three months ended March 31, 2023 and net income of $8.9 million and diluted earnings per share of $0.83 for the three months ended June 30, 2022;Second quarter of 2023 return on average assets of 1.32% and return on average equity of 16.27% compared to return on average assets of 1.27% and return on average equity of 15.88% during the first quarter of 2023;Net interest margin, on a tax equivalent basis, was 3.83% in the second quarter of 2023 as compared to 3.94% in the first quarter of 2023 and 3.6
Net income of $9.2 million and diluted earnings per share of $0.87 for the three months ended March 31, 2023 compared to net income of $9.6 million and diluted earnings per share of $0.91 for the three months ended December 31, 2022 and net income of $8.4 million and diluted earnings per share of $0.76 for the three months ended March 31, 2022;First quarter 2023 return on average assets of 1.27% and return on average equity of 15.88%;Tangible book value per share was $20.50 at March 31, 2023 compared to $19.47 at December 31, 2022. Tangible common equity improved from 7.1% at December 31, 2022 to 7.3% at March 31, 2023; capital impact of $13.0 million legal settlement expense and $3.2 millio
Net income of $9.6 million and diluted earnings per share of $0.91 for the three months ended December 31, 2022 compared to a net loss of $4.8 million and diluted loss per share of $0.47 for the three months ended September 30, 2022; net income of $22.0 million and diluted earnings per share of $2.06 for the year ended December 31, 2022 compared to net income of $32.9 million and diluted earnings per share of $2.96 for the year ended December 31, 2021;Excluding the impact from the third quarter provision for legal settlement ("legal settlement") and restructuring charge, net income and diluted earnings per share were $34.8 million(1) and $3.25(1), respectively, for the year ended December 31
4 - ORRSTOWN FINANCIAL SERVICES INC (0000826154) (Issuer)
4 - ORRSTOWN FINANCIAL SERVICES INC (0000826154) (Issuer)
4 - ORRSTOWN FINANCIAL SERVICES INC (0000826154) (Issuer)
4 - ORRSTOWN FINANCIAL SERVICES INC (0000826154) (Issuer)
Orrstown Financial Services, Inc. ("Orrstown" or the "Company") closed the merger of equals transaction with Codorus Valley Bancorp, Inc. ("Codorus") on July 1, 2024, creating a premier Pennsylvania and Maryland community bank; as a result, the Company's results for the three months ended September 30, 2024 reflect the combined operating results of the combined companies;Codorus contributed, after fair value purchase accounting adjustments, approximately $2.2 billion in total assets, $1.6 billion in loans, and $1.9 billion in deposits at July 1, 2024;Net loss of $7.9 million, or $0.41 per diluted share, for the three months ended September 30, 2024 compared to net income of $7.7 million, or
Orrstown Financial Services, Inc. ("Orrstown" or the "Company") closed the merger of equals transaction with Codorus Valley Bancorp, Inc. ("Codorus") on July 1, 2024; as a result, the second quarter results reported in this release reflect Orrstown's standalone operating results and do not reflect the combined operating results of the two companies;Net income of $7.7 million and diluted earnings per share of $0.73 for the three months ended June 30, 2024 compared to net income of $8.5 million and diluted earnings per share of $0.81 for the three months ended March 31, 2024;Excluding the impact of $1.0 million in expenses related to the merger, net of taxes, net income and diluted earnings pe
HARRISBURG, Pa., July 01, 2024 (GLOBE NEWSWIRE) -- Orrstown Financial Services, Inc. (NASDAQ:ORRF), the holding company for Orrstown Bank ("Orrstown"), and Codorus Valley Bancorp, Inc. (NASDAQ:CVLY), the holding company for PeoplesBank, A Codorus Valley Company ("Codorus Valley"), today announced the successful completion of their previously announced merger of equals creating a premier Pennsylvania and Maryland community bank. "We are excited to move forward as one unified organization, leveraging our combined strengths to deliver even greater value to our clients, shareholders, community partners, and employees," said Thomas R. Quinn, Jr., Orrstown's President and Chief Executive Office
SHIPPENSBURG, Pa. and YORK, Pa., June 17, 2024 (GLOBE NEWSWIRE) -- Orrstown Financial Services, Inc. ("Orrstown") (NASDAQ:ORRF), the parent company of Orrstown Bank, and Codorus Valley Bancorp, Inc. ("Codorus Valley") (NASDAQ:CVLY), the parent company of PeoplesBank, A Codorus Valley Company, today announced that they have received the requisite regulatory approvals and waivers from the Board of Governors of the Federal Reserve System and the Pennsylvania Department of Banking and Securities for their previously announced merger of equals. The parties anticipate closing the transaction on July 1, 2024, subject to the satisfaction of customary closing conditions. About Orrstown Orrstown F
SHIPPENSBURG, Pa. and YORK, Pa., May 30, 2024 (GLOBE NEWSWIRE) -- Orrstown Financial Services, Inc. ("Orrstown") (NASDAQ:ORRF), the parent company of Orrstown Bank, and Codorus Valley Bancorp, Inc. ("Codorus Valley") (NASDAQ:CVLY), the parent company of PeoplesBank, A Codorus Valley Company, today announced that they each received shareholder approval for the previously announced merger of equals. At a special meeting of shareholders held on May 30, 2024, Codorus Valley's shareholders approved the merger of Codorus Valley with and into Orrstown, with Orrstown as the surviving corporation (the "Merger"), the Agreement and Plan of Merger, dated as of December 12, 2023 (the "Merger Agreement"
First quarter net income of $4.3 million compared to net income of $7.0 million in the quarter ended March 31, 2023, and $5.5 million in the quarter ended December 31, 2023;Net interest margin of 3.34% for the quarter ended March 31, 2024, a 66-basis point decrease from the net interest margin of 4.00% for the quarter ended March 31, 2023;Tier 1 leverage capital ratio of 10.80% for the quarter ending March 31, 2024, a 60-basis point increase from the tier 1 leverage capital ratio of 10.20% for the quarter ending March 31, 2023;Year-to-date efficiency ratio of 73.91%; return on average assets of 0.77%; and return on equity of 8.48%;Cash dividend of $0.17 per common share payable on May 14, 20
Net income of $8.5 million and diluted earnings per share of $0.81 for the three months ended March 31, 2024 compared to net income of $7.6 million and diluted earnings per share of $0.73 for the three months ended December 31, 2023;Excluding the impact of $0.7 million in expenses related to the pending merger of equals transaction with Codorus Valley Bancorp, Inc., net income and diluted earnings per share, respectively, were $9.2 million(1) and $0.88(1) for the first quarter of 2024 compared to net income and diluted earnings per share of $8.6 million(1) and $0.83(1), respectively, excluding the impact of $1.1 million in merger-related expenses recorded for the fourth quarter of 2023;As a
Fourth quarter net income of $5.5 million compared to net income of $7.9 million in the quarter ended December 31, 2022, and $5.9 million in the quarter ended September 30, 2023;Net income of $25.0 million for the year ended December 31, 2023, compared to net income of $20.1 million for the year ended December 31, 2022;Net interest margin of 3.76% for the year ended December 31, 2023, a 37-basis point increase from the net interest margin of 3.39% for the year ended December 31, 2022;Year-to-date efficiency ratio of 65.75%; return on average assets of 1.15%; and return on equity of 13.47%;Continued improvement in credit metrics with nonperforming assets to total loans of 0.23% at December 31
Net income of $7.6 million and diluted earnings per share of $0.73 for the three months ended December 31, 2023 compared to net income of $9.0 million and diluted earnings per share of $0.87 for the three months ended September 30, 2023; net income of $35.7 million and diluted earnings per share of $3.42 for the year ended December 31, 2023 compared to net income of $22.0 million and diluted earnings per share of $2.06 for the year ended December 31, 2022;On December 12, 2023, the Company and Codorus Valley Bancorp, Inc. ("Codorus Valley") announced that they have entered into a merger agreement pursuant to which Codorus Valley will be merged with and into the Company in a merger of equals t
SHIPPENSBURG, Pa. and YORK, Pa., Dec. 12, 2023 (GLOBE NEWSWIRE) -- Orrstown Financial Services, Inc. ("Orrstown") (NASDAQ:ORRF), the parent company of Orrstown Bank, and Codorus Valley Bancorp, Inc. ("Codorus Valley") (NASDAQ:CVLY), the parent company of PeoplesBank, A Codorus Valley Company ("PeoplesBank"), today announced they have entered into a definitive agreement pursuant to which Codorus Valley will merge with and into Orrstown in an all-stock transaction valued at approximately $207.0 million, or $21.31 per share of Codorus Valley common stock, based on the $24.35 closing price of Orrstown common stock on December 11, 2023. Transaction Highlights: Merger of Equals transaction cre