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 7,398 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)
8,371% more call options, than puts
Call options by funds: $593K | Put options by funds: $7K
325% more first-time investments, than exits
New positions opened: 34 | Existing positions closed: 8
36% more repeat investments, than reductions
Existing positions increased: 49 | Existing positions reduced: 36
23% more funds holding
Funds holding: 113 [Q3] → 139 (+26) [Q4]
4% more capital invested
Capital invested by funds: $377M [Q3] → $391M (+$13.6M) [Q4]
0% more funds holding in top 10
Funds holding in top 10: 2 [Q3] → 2 (+0) [Q4]
42.76% less ownership
Funds ownership: 97.78% [Q3] → 55.01% (-42.76%) [Q4]
Research analyst outlook
1 Wall Street Analyst provided 1 year price targets over the past 3 months
Low target
$42
41%
upside
Avg. target
$42
41%
upside
High target
$42
41%
upside
1 analyst rating
1 positive
100%
0 neutral
0%
0 negative
0%
Keefe, Bruyette & Woods Timothy Switzer 57% 1-year accuracy 4 / 7 met price target | 41%upside $42 | Outperform Reiterated | 3 Feb 2025 |
Financial journalist opinion
Neutral
GlobeNewsWire
1 month ago
Orrstown Financial Services, Inc. Announces Promotion of Adam Metz to Senior Executive Vice President and Chief Operating Officer
HARRISBURG, Pa., Feb. 13, 2025 (GLOBE NEWSWIRE) -- Orrstown Financial Services, Inc. (NASDAQ: ORRF) (the “Company”) today announced that Adam L. Metz has been promoted to Senior Executive Vice President and Chief Operating Officer of the Company and its subsidiary bank, Orrstown Bank (the "Bank"), effective immediately, with the intent for him to succeed Thomas R. Quinn, Jr. as President and Chief Executive Officer of the Company and the Bank upon Mr. Quinn's retirement on May 25, 2026.
Positive
Seeking Alpha
1 month ago
23 Upcoming Dividend Increases, Including 2 Kings
Excited to announce dividend hikes for 23 companies, including dividend kings SJW Group and California Water Service Group, with 5% and 7.1% increases. Companies with consistent dividend growth indicate financial health, attracting investors and boosting stock prices, leading to long-term wealth accumulation. Investment strategy focuses on stocks with rising dividends and outperforming benchmarks, using data from U.S. Dividend Champions and NASDAQ.
Neutral
GlobeNewsWire
1 month ago
Orrstown Financial Services, Inc. Announces Appointment of Barbara Brobst to the Board of Directors
HARRISBURG, Pa., Feb. 03, 2025 (GLOBE NEWSWIRE) -- Orrstown Financial Services, Inc. (NASDAQ: ORRF) (the “Company”) today announced that Barbara E. Brobst has been appointed to an open position on the Boards of Directors of the Company and its principal subsidiary, Orrstown Bank, effective February 1, 2025.
Positive
Zacks Investment Research
1 month ago
Orrstown Financial Services (ORRF) Could Be a Great Choice
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?
Negative
Zacks Investment Research
2 months ago
Orrstown Financial Services (ORRF) Q4 Earnings and Revenues Miss Estimates
Orrstown Financial Services (ORRF) came out with quarterly earnings of $0.87 per share, missing the Zacks Consensus Estimate of $1.03 per share. This compares to earnings of $0.83 per share a year ago.
Neutral
GlobeNewsWire
2 months ago
Orrstown Financial Services, Inc. Reports Fourth Quarter 2024 Results
Net income of $13.7 million, or $0.71 per diluted share, for the three months ended December 31, 2024 compared to net loss of $7.9 million, or $0.41 per diluted share, for the three months ended September 30, 2024; the fourth quarter of 2024 included $3.9 million in expenses related to the merger and $0.5 million for a legal settlement compared to $17.0 million in expenses related to the merger, $15.5 million of provision for credit losses on non-purchase credit deteriorated loans and $4.8 million for an executive retirement, net of taxes, for the third quarter of 2024; Excluding the impact of the non-recurring charges referenced above, net income and diluted earnings per share, respectively, were $16.7 million(1) and $0.87(1) for the fourth quarter of 2024 compared to adjusted net income and diluted earnings per share of $21.4 million(1) and $1.11(1), respectively; The Board of Directors declared a cash dividend of $0.26 per common share, payable February 21, 2025, to shareholders of record as of February 14, 2025; this represents an increase in the Company's quarterly cash dividend of $0.03 per share, or 13%; The previously announced cost save target of 18% has been achieved for the go-forward operating run rate as of December 31, 2024; With the core conversion being completed in November 2024, the fourth quarter results reflected several ongoing activities associated with the conversion and the transitional period; the fourth quarter also included elevated salaries and employee benefit expenses due to year end performance-based incentive accruals; Net interest margin, on a tax equivalent basis, was 4.05% in the fourth quarter of 2024 compared to 4.14% in the third quarter of 2024; the net accretion impact of purchase accounting marks was $7.2 million of net interest income, which represents 52 basis points of net interest margin for the fourth quarter of 2024 compared to $5.8 million of net interest income, which represents 42 basis points of net interest margin, for the third quarter of 2024; Commercial loans declined by $59.5 million, or 2%, from September 30, 2024 to December 31, 2024 due primarily to strategic actions to reduce risk in the portfolio, including reducing commercial real estate ("CRE") loan concentrations; a pool of mostly commercial and industrial loans totaling $6.0 million was sold, including $2.6 million of nonaccrual loans; total classified loans declined by $16.9 million during the fourth quarter of 2024; Noninterest income decreased by $1.2 million to $11.2 million in the three months ended December 31, 2024 compared to $12.4 million in the three months ended September 30, 2024; this reduction was driven by certain courtesy fee waivers provided to clients as well as tax credits recognized in the third quarter of 2024 that did not recur in the fourth quarter; The provision for credit losses was $1.8 million for the three months ended December 31, 2024, inclusive of a charge-off of $2.4 million for one commercial and industrial (C&I) relationship and charge-offs associated with the loan sale of $0.6 million, which was offset by the acceleration of a purchase mark for the same amount; Tangible book value per common share(1) increased to $21.19 per share at December 31, 2024 compared to $21.12 per share at September 30, 2024. (1) Non-GAAP measure.
Positive
Zacks Investment Research
2 months ago
Orrstown Financial Services (ORRF) to Report Q4 Results: Wall Street Expects Earnings Growth
Orrstown (ORRF) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Neutral
GlobeNewsWire
2 months ago
Orrstown Bank Welcomes Chris Orr as Chief Information Officer and Ben Colvard as Chief Operations Officer
HARRISBURG, Pa., Jan. 16, 2025 (GLOBE NEWSWIRE) -- Orrstown Bank, a wholly owned subsidiary of Orrstown Financial Services, Inc. (NASDAQ:ORRF), is pleased to announce the addition of two accomplished leaders to its executive team. Chris Orr has been appointed as Chief Information Officer, and Ben Colvard joins as Chief Operations Officer. Both bring extensive experience and proven track records of driving innovation and operational excellence within the banking industry.
Positive
Seeking Alpha
2 months ago
Orrstown Financial Services: Expecting Decent Earnings Growth After The Merger Of Equals
The outlook for business activity in Orrstown Financial Services' markets is positive. Therefore, loan additions can be expected to remain satisfactory. The acquired portfolio could see some paydowns because of ORRF's plans to eliminate redundancies. Although the CVLY merger gave a one-time boost to the margin, it also increased the asset sensitivity. The margin will likely slip due to high sensitivity to interest rate changes.
Positive
Seeking Alpha
3 months 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.
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