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Orrstown Financial Services

Nasdaq:ORRF
Snowflake Description

Flawless balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ORRF
Nasdaq
$243M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

Orrstown Financial Services, Inc. operates as the holding company for Orrstown Bank that provides commercial banking and trust services in the United States. The last earnings update was 76 days ago. More info.


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ORRF Share Price and Events
7 Day Returns
-1.5%
NasdaqCM:ORRF
-1.1%
US Banks
-1.2%
US Market
1 Year Returns
-19.9%
NasdaqCM:ORRF
-6.5%
US Banks
3.4%
US Market
ORRF Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Orrstown Financial Services (ORRF) -1.5% -2.3% 12.4% -19.9% 12.1% 33.2%
US Banks -1.1% 2.7% -0.4% -6.5% 45.1% 45.5%
US Market -1.2% 0.7% 1.7% 3.4% 35.5% 41.6%
1 Year Return vs Industry and Market
  • ORRF underperformed the Banks industry which returned -6.5% over the past year.
  • ORRF underperformed the Market in United States of America which returned 3.4% over the past year.
Price Volatility
ORRF
Industry
5yr Volatility vs Market

ORRF Value

 Is Orrstown Financial Services undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Orrstown Financial Services to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Orrstown Financial Services.

NasdaqCM:ORRF Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $21.03 * 6.1%
$1.27
Book Value of Equity per Share Weighted future Book Value estimates from 2 analysts. $21.03
Discount Rate (Cost of Equity) See below 8.3%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqCM:ORRF
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.6
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.597 (1 + (1- 21%) (62.89%))
0.928
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.93
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.928 * 5.96%)
8.26%

Discounted Cash Flow Calculation for NasdaqCM:ORRF using Excess Returns Model Model

The calculations below outline how an intrinsic value for Orrstown Financial Services is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqCM:ORRF Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (6.1% – 8.26%) * $21.03)
$-0.46
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.46 / (8.26% - 2.73%)
$-8.38
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $21.03 + $-8.38
$12.65
NasdaqCM:ORRF Discount to Share Price
Calculation Result
Value per share (USD) From above. $12.65
Current discount Discount to share price of $21.44
= -1 x ($21.44 - $12.65) / $12.65
-69.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Orrstown Financial Services is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Orrstown Financial Services's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Orrstown Financial Services's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqCM:ORRF PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $1.42
NasdaqCM:ORRF Share Price ** NasdaqCM (2019-07-19) in USD $21.44
United States of America Banks Industry PE Ratio Median Figure of 594 Publicly-Listed Banks Companies 12.72x
United States of America Market PE Ratio Median Figure of 3,081 Publicly-Listed Companies 17.87x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Orrstown Financial Services.

NasdaqCM:ORRF PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqCM:ORRF Share Price ÷ EPS (both in USD)

= 21.44 ÷ 1.42

15.06x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Orrstown Financial Services is overvalued based on earnings compared to the US Banks industry average.
  • Orrstown Financial Services is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Orrstown Financial Services's expected growth come at a high price?
Raw Data
NasdaqCM:ORRF PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.06x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
48.5%per year
United States of America Banks Industry PEG Ratio Median Figure of 271 Publicly-Listed Banks Companies 1.2x
United States of America Market PEG Ratio Median Figure of 2,119 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

NasdaqCM:ORRF PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 15.06x ÷ 48.5%

0.31x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Orrstown Financial Services is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Orrstown Financial Services's assets?
Raw Data
NasdaqCM:ORRF PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $18.89
NasdaqCM:ORRF Share Price * NasdaqCM (2019-07-19) in USD $21.44
United States of America Banks Industry PB Ratio Median Figure of 594 Publicly-Listed Banks Companies 1.2x
United States of America Market PB Ratio Median Figure of 5,247 Publicly-Listed Companies 1.79x
NasdaqCM:ORRF PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqCM:ORRF Share Price ÷ Book Value per Share (both in USD)

= 21.44 ÷ 18.89

1.13x

* Primary Listing of Orrstown Financial Services.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Orrstown Financial Services is good value based on assets compared to the US Banks industry average.
X
Value checks
We assess Orrstown Financial Services's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Orrstown Financial Services has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

ORRF Future Performance

 How is Orrstown Financial Services expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
48.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Orrstown Financial Services expected to grow at an attractive rate?
  • Orrstown Financial Services's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Orrstown Financial Services's earnings growth is expected to exceed the United States of America market average.
  • Orrstown Financial Services's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqCM:ORRF Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqCM:ORRF Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 48.5%
NasdaqCM:ORRF Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 7.2%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 1.8%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.5%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqCM:ORRF Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqCM:ORRF Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 81 26 3
2019-12-31 71 15 3
NasdaqCM:ORRF Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 75 18 12
2018-12-31 72 22 13
2018-09-30 69 22 12
2018-06-30 67 23 10
2018-03-31 65 17 10
2017-12-31 63 16 8
2017-09-30 62 15 10
2017-06-30 59 18 9
2017-03-31 56 14 6
2016-12-31 56 16 7
2016-09-30 54 14 6
2016-06-30 54 13 7

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Orrstown Financial Services's earnings are expected to grow significantly at over 20% yearly.
  • Orrstown Financial Services's revenue is expected to grow by 7.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqCM:ORRF Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Orrstown Financial Services Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:ORRF Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 2.30 2.32 2.26 3.00
2019-12-31 1.46 1.98 1.11 3.00
NasdaqCM:ORRF Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.42
2018-12-31 1.53
2018-09-30 1.44
2018-06-30 1.29
2018-03-31 1.20
2017-12-31 1.00
2017-09-30 1.24
2017-06-30 1.08
2017-03-31 0.75
2016-12-31 0.82
2016-09-30 0.76
2016-06-30 0.89

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Orrstown Financial Services will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Orrstown Financial Services's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Orrstown Financial Services has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

ORRF Past Performance

  How has Orrstown Financial Services performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Orrstown Financial Services's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Orrstown Financial Services's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Orrstown Financial Services's 1-year earnings growth exceeds its 5-year average (26.4% vs -15.3%)
  • Orrstown Financial Services's earnings growth has not exceeded the US Banks industry average in the past year (26.4% vs 37.7%).
Earnings and Revenue History
Orrstown Financial Services's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Orrstown Financial Services Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:ORRF Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 74.75 12.28 48.98
2018-12-31 72.42 12.81 47.54
2018-09-30 68.55 11.66 45.34
2018-06-30 66.79 10.42 44.95
2018-03-31 65.37 9.71 44.52
2017-12-31 62.76 8.09 43.63
2017-09-30 61.73 10.01 43.32
2017-06-30 59.04 8.68 42.72
2017-03-31 56.29 6.05 41.33
2016-12-31 56.03 6.63 40.18
2016-09-30 53.78 6.15 38.49
2016-06-30 54.37 7.17 37.65
2016-03-31 54.36 7.99 37.24
2015-12-31 54.12 7.87 37.06
2015-09-30 55.27 25.54 37.06
2015-06-30 57.22 28.26 36.38
2015-03-31 57.38 29.63 35.94
2014-12-31 56.63 29.14 35.78
2014-09-30 56.71 12.96 35.03
2014-06-30 52.70 9.89 34.03
2014-03-31 52.53 10.42 33.05
2013-12-31 52.05 10.00 33.72
2013-09-30 50.33 8.11 30.97
2013-06-30 47.15 -15.35 30.79
2013-03-31 27.50 -28.68 30.67
2012-12-31 12.86 -38.45 29.81
2012-09-30 -7.16 -68.97 29.69

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Orrstown Financial Services has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Orrstown Financial Services used its assets less efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if Orrstown Financial Services improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Orrstown Financial Services's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Orrstown Financial Services has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

ORRF Health

 How is Orrstown Financial Services's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Orrstown Financial Services's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Orrstown Financial Services Company Filings, last reported 3 months ago.

NasdaqCM:ORRF Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 179.17 144.75 77.22
2018-12-31 173.43 179.38 77.83
2018-09-30 145.56 128.90 41.02
2018-06-30 145.14 147.47 22.58
2018-03-31 142.56 177.46 30.17
2017-12-31 144.77 177.39 28.41
2017-09-30 144.38 155.47 22.47
2017-06-30 143.26 114.55 38.01
2017-03-31 137.47 117.49 28.55
2016-12-31 134.86 112.03 25.90
2016-09-30 139.80 67.10 37.64
2016-06-30 141.04 67.72 63.65
2016-03-31 138.25 87.11 66.92
2015-12-31 133.06 113.65 27.08
2015-09-30 134.73 79.41 34.27
2015-06-30 130.26 127.93 23.79
2015-03-31 131.85 100.01 33.04
2014-12-31 127.27 101.55 30.81
2014-09-30 106.52 71.27 35.74
2014-06-30 102.45 69.27 40.01
2014-03-31 96.25 74.54 30.36
2013-12-31 91.44 75.11 36.54
2013-09-30 89.64 41.75 70.38
2013-06-30 87.80 53.40 84.34
2013-03-31 88.85 52.37 94.77
2012-12-31 87.69 47.12 149.85
2012-09-30 87.32 49.87 107.60
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Orrstown Financial Services has an acceptable proportion of non-loan assets held.
  • Orrstown Financial Services's liabilities are made up of primarily low risk sources of funding.
  • Loans at Orrstown Financial Services are broadly funded by customer deposits.
  • Orrstown Financial Services's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Orrstown Financial Services has a sufficient allowance for bad loans.
  • Orrstown Financial Services has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Orrstown Financial Services's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Orrstown Financial Services has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

ORRF Dividends

 What is Orrstown Financial Services's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.8%
Current annual income from Orrstown Financial Services dividends. Estimated to be 2.83% next year.
If you bought $2,000 of Orrstown Financial Services shares you are expected to receive $56 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Orrstown Financial Services's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Orrstown Financial Services's dividend is below the markets top 25% of dividend payers in United States of America (3.78%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqCM:ORRF Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 480 Stocks 3.1%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2017 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqCM:ORRF Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.61 3.00
2019-12-31 0.60 3.00
NasdaqCM:ORRF Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-18 0.600 2.832
2019-03-15 0.600 3.113
2019-01-23 0.600 3.043
2018-11-06 0.520 2.621
2018-10-17 0.520 2.431
2018-08-07 0.520 2.107
2018-07-18 0.520 1.973
2018-05-08 0.520 1.988
2018-04-18 0.520 2.001
2018-03-09 0.480 1.969
2018-01-24 0.480 1.922
2017-11-07 0.480 1.907
2017-10-25 0.480 1.857
2017-08-08 0.400 1.610
2017-07-26 0.400 1.606
2017-05-09 0.400 1.815
2017-04-27 0.400 1.853
2017-03-13 0.400 1.891
2017-01-26 0.400 1.808
2016-07-28 0.360 1.717
2016-04-28 0.360 1.927
2016-03-11 0.320 1.825
2016-01-28 0.320 1.846
2015-11-06 0.320 1.813
2015-10-21 0.320 1.787
2015-08-05 0.280 1.662
2015-07-22 0.280 1.643
2015-05-08 0.280 1.664
2015-04-23 0.280 1.630
2013-08-08 0.000 0.000
2013-07-24 0.000 0.000
2013-05-09 0.000 0.000
2013-04-24 0.000 0.000
2013-03-06 0.000 0.000
2013-01-23 0.000 0.000
2012-11-08 0.000 0.000
2012-10-31 0.000 0.000
2012-08-09 0.000 0.000
2012-07-26 0.000 0.000
2012-05-09 0.000 0.000
2012-04-26 0.000 0.000
2011-10-26 0.000 0.000
2011-07-28 0.920 6.391
2011-04-28 0.920 3.784
2011-01-27 0.920 3.445
2010-07-22 0.900 3.672
2010-04-22 0.880 3.764
2010-01-28 0.880 2.919
2009-10-29 0.880 2.604
2009-07-30 0.880 2.368
2009-04-23 0.880 2.736
2009-01-29 0.880 3.555
2008-10-24 0.880 3.080
2008-07-24 0.880 2.912

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Orrstown Financial Services's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.6x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Orrstown Financial Services's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Orrstown Financial Services afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Orrstown Financial Services has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

ORRF Management

 What is the CEO of Orrstown Financial Services's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Tom Quinn
COMPENSATION $1,536,192
AGE 60
TENURE AS CEO 10.2 years
CEO Bio

Mr. Thomas Rodney Quinn, Jr., also known as Tom, has been the Chief Executive Officer and President at Orrstown Financial Services Inc. since May 5, 2009. Mr. Quinn has been the President and Chief Executive Officer at Orrstown Bank since May 5, 2009. He has 16 years of banking experience. He serves as Member of Community Depository Institutions Advisory Council at Federal Reserve Bank of Philadelphia. He served as Chief Executive Officer and President at Fifth Third Bank (South Florida) of Fifth Third Bank (Cincinnati, OH) from November 2005. Prior to joining Fifth Third Bank, he was associated with Citigroup in a variety of executive positions, where he had responsibility for commercial and retail banking including the investment and insurance business units. He joined Fifth Third from Citibank, where he served for more than 13 years, as President and Region Manager for Citibank's Upstate New York and Canadian retail operations. Prior to that, he was the National Sales Director at Citibank's student loan corporation and regional manager for Citibank's mortgage sales company. He has been a Director of Orrstown Financial Services Inc. and Orrstown Bank since May 2009. Prior to his job at Citibank, he was a Broker and Owner of Quinn Realty Company in Plattsburgh, New York. Mr. Quinn graduated from Edinboro University in Edinboro, Pennsylvania with a Bachelor's Degree in Political Science.

CEO Compensation
  • Tom's compensation has increased by more than 20% in the past year whilst earnings grew less than 20%.
  • Tom's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Orrstown Financial Services management team in years:

6.7
Average Tenure
53
Average Age
  • The average tenure for the Orrstown Financial Services management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Tom Quinn

TITLE
President
COMPENSATION
$2M
AGE
60
TENURE
10.2 yrs

Bob Coradi

TITLE
Executive VP
COMPENSATION
$561K
AGE
57
TENURE
5.3 yrs

Adam Metz

TITLE
Executive VP & Chief Lending Officer
COMPENSATION
$515K
AGE
47
TENURE
2.8 yrs

Philip Fague

TITLE
Executive VP
COMPENSATION
$456K
AGE
59

Tom Brugger

TITLE
Executive VP & CFO
AGE
52

Bob Fignar

TITLE
Executive VP and Chief Operations & Logistics Officer
AGE
53

Matt Schultheis

TITLE
Senior Vice President of Strategic Planning & Investor Relations

Luke Bernstein

TITLE
Corporate Communications Officer
AGE
40
TENURE
1.8 yrs

Barb Brobst

TITLE
Executive VP & Chief Human Resources Officer at Orrstown Bank
COMPENSATION
$179K
AGE
60
TENURE
8.1 yrs

Jeff Gayman

TITLE
EVP & Market President
COMPENSATION
$186K
AGE
46
TENURE
8.1 yrs
Board of Directors Tenure

Average tenure and age of the Orrstown Financial Services board of directors in years:

8.7
Average Tenure
63
Average Age
  • The tenure for the Orrstown Financial Services board of directors is about average.
Board of Directors

Joel Zullinger

TITLE
Chairman of the Board
COMPENSATION
$123K
AGE
71
TENURE
28.5 yrs

Tom Quinn

TITLE
President
COMPENSATION
$2M
AGE
60
TENURE
10.2 yrs

Glenn Snoke

TITLE
Director
COMPENSATION
$85K
AGE
70
TENURE
20.5 yrs

Floyd Stoner

TITLE
Director
COMPENSATION
$106K
AGE
70
TENURE
7.2 yrs

Cindy Joiner

TITLE
Director
COMPENSATION
$87K
AGE
57
TENURE
3.5 yrs

Andrea Pugh

TITLE
Director
COMPENSATION
$88K
AGE
66
TENURE
23.5 yrs

Mark Keller

TITLE
Director
COMPENSATION
$114K
AGE
65
TENURE
10.2 yrs

Eric Segal

TITLE
Director
COMPENSATION
$89K
AGE
61
TENURE
5.9 yrs

Tom Longenecker

TITLE
Director
COMPENSATION
$84K
AGE
51
TENURE
3.5 yrs

Michael Rice

TITLE
Director
AGE
57
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
30. Oct 18 Buy Michael Rice Individual 29. Oct 18 29. Oct 18 500 $20.34 $10,170
01. Mar 19 Sell Anthony Ceddia Individual 27. Feb 19 27. Feb 19 -1,000 $20.40 $-20,404
12. Feb 19 Sell Anthony Ceddia Individual 08. Feb 19 08. Feb 19 -500 $20.00 $-10,000
30. Jan 19 Buy David Hornberger Individual 30. Jan 19 30. Jan 19 300 $19.04 $5,712
07. Dec 18 Buy Gregory Rosenberry Individual 07. Dec 18 07. Dec 18 100 $19.71 $1,971
06. Dec 18 Buy Gregory Rosenberry Individual 06. Dec 18 06. Dec 18 400 $19.84 $7,936
26. Nov 18 Buy Cindy Joiner Individual 23. Nov 18 23. Nov 18 380 $20.41 $7,756
29. Oct 18 Buy Robert Fignar Individual 26. Oct 18 26. Oct 18 1,000 $20.61 $20,610
29. Oct 18 Buy Joel Zullinger Individual 26. Oct 18 26. Oct 18 300 $20.69 $6,207
26. Oct 18 Buy Cindy Joiner Individual 25. Oct 18 25. Oct 18 600 $20.35 $12,210
26. Oct 18 Buy Floyd Stoner Individual 25. Oct 18 25. Oct 18 1,300 $20.61 $26,793
26. Oct 18 Buy Mark Keller Individual 26. Oct 18 26. Oct 18 300 $20.49 $6,147
26. Oct 18 Buy David Boyle Individual 26. Oct 18 26. Oct 18 500 $20.00 $10,000
25. Oct 18 Buy Thomas Longenecker Individual 25. Oct 18 25. Oct 18 100 $20.25 $2,025
25. Oct 18 Buy David Hornberger Individual 25. Oct 18 25. Oct 18 1,000 $20.48 $20,402
25. Oct 18 Buy David Boyle Individual 25. Oct 18 25. Oct 18 1,000 $20.50 $20,500
25. Oct 18 Buy Thomas Quinn Individual 25. Oct 18 25. Oct 18 482 $20.57 $9,905
26. Jul 18 Sell Anthony Ceddia Individual 25. Jul 18 25. Jul 18 -500 $26.72 $-13,362
X
Management checks
We assess Orrstown Financial Services's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Orrstown Financial Services has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

ORRF News

Simply Wall St News

Three Things You Should Check Before Buying Orrstown Financial Services, Inc. (NASDAQ:ORRF) For Its Dividend

While Orrstown Financial Services's 2.7% dividend yield is not the highest, we think its lengthy payment history is quite interesting. … For the purpose of this article, we only scrutinise the last decade of Orrstown Financial Services's dividend payments. … While we're not hugely bearish on it, overall we think there are potentially better dividend stocks than Orrstown Financial Services out there.

Simply Wall St -

Did Orrstown Financial Services's (NASDAQ:ORRF) Share Price Deserve to Gain 29%?

(NASDAQ:ORRF) has fallen short of that second goal, with a share price rise of 29% over five years, which is below the market return. … Over half a decade, Orrstown Financial Services managed to grow its earnings per share at 2.0% a year. … A Different Perspective While the broader market gained around 3.1% in the last year, Orrstown Financial Services shareholders lost 15% (even including dividends).

Simply Wall St -

I Built A List Of Growing Companies And Orrstown Financial Services (NASDAQ:ORRF) Made The Cut

But as Peter Lynch said in One Up On Wall Street, 'Long shots almost never pay off.' If, on the other hand, you like companies that have revenue, and even earn profits, then you may well be interested in Orrstown Financial Services (NASDAQ:ORRF). … Over the last 12 months Orrstown Financial Services insiders spent US$58k more buying shares than they received from selling them. … So if you like the sound of Orrstown Financial Services, you'll probably love this free list of growing companies that insiders are buying.

Simply Wall St -

Should We Worry About Orrstown Financial Services, Inc.'s (NASDAQ:ORRF) P/E Ratio?

We'll show how you can use Orrstown Financial Services, Inc.'s (NASDAQ:ORRF) P/E ratio to inform your assessment of the investment opportunity. … Orrstown Financial Services has a P/E ratio of 14.74, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Could The Orrstown Financial Services, Inc. (NASDAQ:ORRF) Ownership Structure Tell Us Something Useful?

Every investor in Orrstown Financial Services, Inc. … Orrstown Financial Services is not a large company by global standards. … institutional investors have bought into the company.

Simply Wall St -

Three Understated Metrics For Orrstown Financial Services, Inc. (NASDAQ:ORRF) You Should Know

As a small-cap bank stock with a market capitalisation of US$178m, Orrstown Financial Services, Inc.’s (NASDAQ:ORRF) risk and profitability are largely determined by the underlying economic growth of the US regions in which it operates. … Post-GFC recovery brought about a new set of reforms, Basel III, which was created to improve regulation, supervision and risk management in the financial services industry. … Since its financial standing can unexpectedly decline in the case of an adverse macro event such as political instability, it is important to understand how prudent the bank is at managing its risk levels.

Simply Wall St -

Is Orrstown Financial Services, Inc. (NASDAQ:ORRF) A Smart Pick For Income Investors?

Historically, Orrstown Financial Services, Inc. … Let's dig deeper into whether Orrstown Financial Services should have a place in your portfolio. … View our latest analysis for Orrstown Financial Services

Simply Wall St -

Read This Before You Buy Orrstown Financial Services Inc (NASDAQ:ORRF) Because Of Its P/E Ratio

To keep it practical, we'll show how Orrstown Financial Services Inc's (NASDAQ:ORRF) P/E ratio could help you assess the value on offer. … Based on the last twelve months, Orrstown Financial Services's P/E ratio is 13.91. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Why Orrstown Financial Services Inc’s (NASDAQ:ORRF) Risk Control Makes It Attractive

Risk associated with repayment is measured by bad debt which is written off as an expense, impacting Orrstown Financial Services’s bottom line. … Today we will analyse Orrstown Financial Services’s level of bad debt and liabilities in order to understand the risk involved with investing in the bank. … See our latest analysis for Orrstown Financial Services

Simply Wall St -

Is Orrstown Financial Services Inc's (NASDAQ:ORRF) CEO Paid At A Competitive Rate?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … Check out our latest analysis for Orrstown Financial Services? … Our data indicates that Orrstown Financial Services Inc is worth US$192m, and total annual CEO compensation is US$1m.

Simply Wall St -

ORRF Company Info

Description

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, and other commercial purpose 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 services through an office in Lancaster County, Pennsylvania. The company provides its banking and bank-related services through branches located in Berks, Cumberland, Dauphin, Franklin, Lancaster, Perry, and York counties of Pennsylvania, as well as Washington County, Maryland. Orrstown Financial Services, Inc. was founded in 1919 and is headquartered in Shippensburg, Pennsylvania.

Details
Name: Orrstown Financial Services, Inc.
ORRF
Exchange: NasdaqCM
Founded: 1919
$242,907,931
11,329,661
Website: http://www.orrstown.com
Address: Orrstown Financial Services, Inc.
77 East King Street,
PO Box 250,
Shippensburg,
Pennsylvania, 17257,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqCM ORRF Common Stock Nasdaq Capital Market US USD 10. Jul 1998
Number of employees
Current staff
Staff numbers
377
Orrstown Financial Services employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/22 01:57
End of day share price update: 2019/07/19 00:00
Last estimates confirmation: 2019/07/07
Last earnings filing: 2019/05/07
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.