Orrstown Financial ServicesORRF
ORRF
About: Orrstown Financial Services Inc is a holding company engaged in commercial banking and trust business, this involves accepting demand, time and savings deposits, and granting loans. It is also engaged in lending services for commercial, residential, commercial mortgages, construction, municipal, and various forms of consumer lending. Deposit services include checking, savings, time, and money market deposits. It also provides investment and brokerage services through its Financial Advisors division. The Company earns fees from its deposit clients for transaction-based, account maintenance, and overdraft services, it also earns wealth management and investment brokerage fees from its contracts with trust. The company operates in a significant segment - Community Banking.
Employees: 425
0
Funds holding %
of 6,809 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
414% more call options, than puts
Call options by funds: $36K | Put options by funds: $7K
200% more first-time investments, than exits
New positions opened: 36 | Existing positions closed: 12
137% more repeat investments, than reductions
Existing positions increased: 45 | Existing positions reduced: 19
128% more capital invested
Capital invested by funds: $164M [Q2] → $374M (+$210M) [Q3]
100% more funds holding in top 10
Funds holding in top 10: 1 [Q2] → 2 (+1) [Q3]
41.1% more ownership
Funds ownership: 55.84% [Q2] → 96.94% (+41.1%) [Q3]
27% more funds holding
Funds holding: 89 [Q2] → 113 (+24) [Q3]
Research analyst outlook
We haven’t received any recent analyst ratings for ORRF.
Financial journalist opinion
Positive
Seeking Alpha
2 weeks ago
Dividend Income Summary: Lanny's November 2024 Summary
Investing in dividend stocks allows you to earn dividend income, the best passive income stream. The power of compounding and dividend reinvestment is a wonderful component to the portfolio. All of the investing from last year and moves this year show that my aim to save 60% of my income, and making every dollar count has provided the dividend growth.
Positive
Zacks Investment Research
1 month ago
Are You Looking for a Top Momentum Pick? Why Orrstown Financial Services (ORRF) is a Great Choice
Does Orrstown Financial Services (ORRF) have what it takes to be a top stock pick for momentum investors? Let's find out.
Positive
Zacks Investment Research
1 month ago
Earnings Estimates Moving Higher for Orrstown (ORRF): Time to Buy?
Orrstown (ORRF) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
Positive
Zacks Investment Research
2 months ago
Orrstown Financial Services (ORRF) Surpasses Q3 Earnings and Revenue Estimates
Orrstown Financial Services (ORRF) came out with quarterly earnings of $1.11 per share, beating the Zacks Consensus Estimate of $0.91 per share. This compares to earnings of $0.87 per share a year ago.
Neutral
GlobeNewsWire
2 months ago
Orrstown Financial Services, Inc. Reports Third Quarter 2024 Results
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 $0.73 per diluted share, for the three months ended June 30, 2024, reflecting the impact of $17.0 million in expenses related to the merger, $15.5 million of provision for credit losses on non-purchase credit deteriorated ("PCD") loans and $4.8 million for the previously announced executive retirement, net of taxes, collectively the "non-recurring charges"; Excluding the impact of the non-recurring charges, net income and diluted earnings per share, respectively, were $21.4 million(1) and $1.11(1) for the third quarter of 2024 compared to net income and diluted earnings per share of $8.7 million(1) and $0.83(1), respectively, as adjusted for the impact of $1.1 million in merger-related expenses, net of taxes, recorded for the second quarter of 2024; Net interest margin, on a tax equivalent basis, was 4.14% in the third quarter of 2024 compared to 3.54% in the second quarter of 2024; the net accretion impact of purchase accounting marks on loans, deposits and borrowings was $5.8 million of net interest income, which represents 52 basis points of net interest margin; Noninterest income increased by $5.1 million to $12.4 million in the three months ended September 30, 2024 compared to $7.2 million in the three months ended June 30, 2024; continued strength in wealth management and swap fee generation by commercial teams are driving fee income growth; Return on average assets for the three months ended September 30, 2024 was (0.57)% compared to 0.97% for the three months ended June 30, 2024; excluding the non-recurring charges, return on average assets was 1.55%(1) for the three months ended September 30, 2024 compared to 1.09%(1) for the three months ended June 30, 2024, excluding merger-related expenses; Return on average equity for the three months ended September 30, 2024 was (5.85)% compared to 11.41% for the three months ended June 30, 2024; excluding the non-recurring charges, return on average equity was 15.85%(1) for the three months ended September 30, 2024 compared to 12.88%(1) for the three months ended June 30, 2024, excluding merger related expenses; The provision for credit losses was $13.7 million for the three months ended September 30, 2024 compared to $812 thousand for the three months ended June 30, 2024; the provision for credit losses on non-PCD loans for the three months ended September 30, 2024 was $15.5 million; excluding the impact of the merger, the provision for credit losses for the three months ended September 30, 2024 was a reversal of $1.8 million; At September 30, 2024, nonaccrual loans totaled $26.9 million, an increase of $18.5 million from $8.4 million at June 30, 2024; non-accrual loans acquired from Codorus totaled $12.8 million; Tangible book value per common share(1) decreased to $21.12 per share at September 30, 2024 compared to $24.08 per share at June 30, 2024; this decrease was primarily due to the impact of loan marks associated with the merger and the net loss incurred for the third quarter of 2024; The Board of Directors declared a cash dividend of $0.23 per common share, payable November 12, 2024, to shareholders of record as of November 5, 2024. (1) Non-GAAP measure.
Positive
Seeking Alpha
2 months ago
Orrstown Financial Services: Well-Positioned For Dividend Seeking Investors
Orrstown Financial Services is favored by dividend investors for its earnings stability, strong asset quality, and consistent returns despite external factors like interest rates. ORRF faces challenges with rising deposit interest expenses and low loan portfolio growth, but maintains excellent asset quality with near-zero net charge-offs. The bank offers a solid dividend yield of 2.51% with a low payout ratio, ensuring sustainability and potential for future increases.
Positive
Zacks Investment Research
2 months ago
Are You Looking for a High-Growth Dividend Stock?
Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Orrstown Financial Services (ORRF) have what it takes?
Positive
Zacks Investment Research
2 months ago
Why Orrstown Financial Services (ORRF) is a Great Dividend Stock Right Now
Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Orrstown Financial Services (ORRF) have what it takes?
Positive
Zacks Investment Research
3 months ago
Why Orrstown Financial Services (ORRF) is a Top Dividend Stock for Your Portfolio
Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Orrstown Financial Services (ORRF) have what it takes?
Positive
Zacks Investment Research
4 months ago
Orrstown Financial Services (ORRF) is a Top Dividend Stock Right Now: Should You Buy?
Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Orrstown Financial Services (ORRF) have what it takes?
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