Orrstown Financial

Orrstown Financial Services, Inc. is a holding company, which engages in the provision of consumer and business financial services. It also offers commercial banking and trust business services which involves accepting demand, time and savings deposits, and granting loans. The company was founded on November 17, 1987 and is headquartered in Shippensburg, PA.

Earnings data Q1 2024

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The heavy selling pressure might have exhausted for Orrstown (ORRF) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.

Down -9.01% in 4 Weeks, Here's Why You Should You Buy the Dip in Orrstown (ORRF)

Orrstown (ORRF) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.

Down -8.22% in 4 Weeks, Here's Why You Should You Buy the Dip in Orrstown (ORRF)

Down -7.61% in 4 Weeks, Here's Why You Should You Buy the Dip in Orrstown (ORRF)

Orrstown Financial Services (ORRF) came out with quarterly earnings of $0.73 per share, missing the Zacks Consensus Estimate of $0.82 per share. This compares to earnings of $0.91 per share a year ago.

Orrstown Financial Services (ORRF) Q4 Earnings Lag Estimates

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 transaction. Excluding the impact of $1.1 million in merger-related expenses, net income and diluted earnings per share, respectively, were $8.6 million(1) and $0.83(1) for the fourth quarter of 2023 and $36.6 million(1) and $3.51(1) for the year ended December 31, 2023; excluding the impact from the 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, 2022; Net interest margin, on a tax equivalent basis, was 3.71% in the fourth quarter of 2023 as compared to 3.73% in the third quarter of 2023; Return on average equity for the year ended December 31, 2023 was 14.66% compared to 9.02% for the year ended December 31, 2022; excluding the aforementioned significant transactions in both 2023 and 2022, return on average equity was 15.06% for the year ended December 31, 2023 compared to 14.25% for the year ended December 31, 2022; Fourth quarter loan growth was $31.5 million, or 6% annualized; full year loan growth was $147.1 million, or 7%; Fourth quarter deposit growth was $12.4 million; excluding the sale of deposits totaling $18.7 million from the Bank's Path Valley branch in the second quarter, full year deposit growth was $101.3 million; Non-interest income increased by $0.6 million to $6.5 million for the three months ended December 31, 2023 from $5.9 million for the three months ended September 30, 2023; Non-interest expenses, inclusive of $1.1 million of merger-related expenses, increased by $2.0 million from $20.4 million for the three months ended September 30, 2023 to $22.4 million for the three months ended December 31, 2023; Tangible common equity ratio increased to 8.0% at December 31, 2023 from 7.3% at September 30, 2023 and 7.1% at December 31, 2022; the fourth quarter of 2023 includes an improvement of $17.5 million, net of taxes, in net unrealized losses on investment securities; Tangible book value per common share(1) improved to $23.03 per share at December 31, 2023 compared to $20.94 per share at September 30, 2023 and $19.47 at December 31, 2022; The Board of Directors declared a cash dividend of $0.20 per common share, payable February 13, 2024, to shareholders of record as of February 6, 2024.

Orrstown Financial Services, Inc. Reports Fourth Quarter 2023 Results and Record Earnings for Full Year 2023

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RWAY, KT and ORRF made it to the Zacks Rank #1 (Strong Buy) value stocks list on December 20, 2023.

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Orrstown (ORRF) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.

Orrstown (ORRF) Surges 8.1%: Is This an Indication of Further Gains?

Codorus Valley Bancorp

NEW YORK , Dec. 13, 2023 /PRNewswire/ -- Rowley Law PLLC is investigating potential securities law violations by Codorus Valley Bancorp, Inc. (NASDAQ: CVLY) and its board of directors concerning the proposed acquisition of the company by Orrstown Financial Services, Inc. (NASDAQ: ORRF). Stockholders will receive 0.875 shares of Orrstown Financial Services common stock for each share of Codorus Valley Bancorp stock that they hold.

ALERT: Rowley Law PLLC is Investigating Proposed Acquisition of Codorus Valley Bancorp, Inc.

NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether the merger of Orrstown Financial Services, Inc. (NASDAQ: ORRF) and Codorus Valley Bancorp, Inc. is fair to Orrstown shareholders. Upon closing of the proposed transaction, Orrstown shareholders will own approximately 56% of the outstanding shares of the combined company. Halper Sadeh encourages Orrstown shareholders to click here to learn more about their legal rights and options or contact Daniel.

ORRF Stock Alert: Halper Sadeh LLC Is Investigating Whether the Merger of Orrstown Financial Services, Inc. Is Fair to Shareholders

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.

Orrstown Financial Services, Inc. and Codorus Valley Bancorp, Inc. Announce a Merger of Equals to Create a Premier Pennsylvania and Maryland Community Banking Franchise

Orrstown Financial Services (ORRF) came out with quarterly earnings of $0.87 per share, beating the Zacks Consensus Estimate of $0.82 per share. This compares to earnings of $0.75 per share a year ago.

Orrstown Financial Services (ORRF) Beats Q3 Earnings Estimates

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 $115.6 million, or 7% annualized; Third quarter deposit growth was $23.6 million; deposits that are uninsured and not collateralized were 15% of total deposits at September 30, 2023 compared to 16% of total deposits at June 30, 2023; Non-interest expenses decreased by $0.3 million from $20.7 million for the three months ended June 30, 2023 to $20.4 million for the three months ended September 30, 2023; Non-interest income decreased by $1.3 million to $5.9 million for the three months ended September 30, 2023 from $7.2 million for the three months ended June 30, 2023; this was almost entirely due to the $1.2 million gain on the sale of the Bank's Path Valley branch in the second quarter of 2023; Tangible common equity( 1) ratio declined from 7.5% at June 30, 2023 to 7.3% at September 30, 2023 reflecting an increase of $11.2 million, net of taxes, in net unrealized losses on investment securities; The Board of Directors declared a cash dividend of $0.20 per common share, payable November 14, 2023, to shareholders of record as of November 7, 2023. (1) Non-GAAP measure.

Orrstown Financial Services, Inc. Reports Earnings for the Third Quarter 2023

Orrstown (ORRF) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

Orrstown (ORRF) Soars 5.7%: Is Further Upside Left in the Stock?

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Should Value Investors Buy Orrstown Financial Services (ORRF) Stock?

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2023 has been one heck of a year. The S&P 500 is close to all-time highs. The Fed raised interest rates in July, as the economy is still on fire. The retirement accounts brought in a total dividend income amount of $379.48 or 22% of the dividend income total, similar to last month. Dividend increases created $42.95 in additional passive dividend income.

Dividend Income Summary: Lanny's August 2023 Summary

Are Investors Undervaluing Orrstown Financial Services (ORRF) Right Now?

Orrstown (ORRF) appears to have found support after losing some value lately, as indicated by the formation of a hammer chart. In addition to this technical chart pattern, strong agreement among Wall Street analysts in revising earnings estimates higher enhances the stock's potential for a turnaround in the near term.

Orrstown (ORRF) May Find a Bottom Soon, Here's Why You Should Buy the Stock Now

Orrstown (ORRF) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

Can Orrstown (ORRF) Run Higher on Rising Earnings Estimates?

Orrstown Financial Services (ORRF) came out with quarterly earnings of $0.94 per share, beating the Zacks Consensus Estimate of $0.75 per share. This compares to earnings of $0.83 per share a year ago.

Orrstown Financial Services (ORRF) Tops Q2 Earnings and Revenue Estimates

SHIPPENSBURG, Pa., July 25, 2023 (GLOBE NEWSWIRE) -- Orrstown Financial Services, Inc. ("Orrstown" or the “Company”) (NASDAQ: ORRF), the parent company of Orrstown Bank (the “Bank”), announced earnings for the three months ended June 30, 2023. Net income totaled $9.8 million for the three months ended June 30, 2023, compared to $9.2 million for the three months ended March 31, 2023 and $8.9 million for the three months ended June 30, 2022. Diluted earnings per share totaled $0.94 for the three months ended June 30, 2023, compared to $0.87 for the three months ended March 31, 2023 and $0.83 for the three months ended June 30, 2022.

Orrstown Financial Services, Inc. Reports Earnings for the Second Quarter 2023

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.

Analysts Estimate Orrstown Financial Services (ORRF) to Report a Decline in Earnings: What to Look Out for

Orrstown (ORRF) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.

Strength Seen in Orrstown (ORRF): Can Its 5.7% Jump Turn into More Strength?

MIFFLINTOWN, Pa. and SHIPPENSBURG, Pa., May 12, 2023 (GLOBE NEWSWIRE) -- The Juniata Valley Bank, a wholly-owned subsidiary of Juniata Valley Financial Corp. (OTCQX:JUVF) (“Juniata”), and Orrstown Bank, a wholly-owned subsidiary of Orrstown Financial Services, Inc. (NASDAQ: ORRF) (“Orrstown”), announced the completion of Juniata's purchase of Orrstown's Path Valley branch, located at 16400 Path Valley Road in Spring Run, PA. The transaction closed today pursuant to the Purchase and Assumption Agreement between the parties, the execution of which was previously announced on December 23, 2022 by the parties.

The Juniata Valley Bank and Orrstown Bank Announce Completion of the Sale of Orrstown's Path Valley Branch Location to Juniata

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Orrstown Financial Services (ORRF) came out with quarterly earnings of $0.87 per share, beating the Zacks Consensus Estimate of $0.80 per share. This compares to earnings of $0.76 per share a year ago.

Orrstown Financial Services (ORRF) Beats Q1 Earnings Estimates

News for Orrstown Financial Stock (ORRF)