Orrstown Financial Services (NASDAQ:ORRF) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Orrstown Financial Services Inc (NASDAQ:ORRF) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $36.17 and traded as high as $36.41. Orrstown Financial Services shares last traded at $36.13, with a volume of 82,845 shares trading hands.

Analyst Ratings Changes

Several research firms have issued reports on ORRF. Hovde Group boosted their price objective on Orrstown Financial Services from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Weiss Ratings raised Orrstown Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $42.00.

Orrstown Financial Services Trading Down 0.1%

The company has a market capitalization of $709.95 million, a price-to-earnings ratio of 8.27 and a beta of 0.71. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.87 and a quick ratio of 0.86. The business has a fifty day moving average price of $36.36 and a 200 day moving average price of $36.17.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.08. The business had revenue of $64.58 million for the quarter, compared to analysts’ expectations of $63.20 million. Orrstown Financial Services had a return on equity of 14.75% and a net margin of 23.58%. On average, equities analysts expect that Orrstown Financial Services Inc will post 4.33 EPS for the current fiscal year.

Orrstown Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Tuesday, May 5th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, May 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.3%. Orrstown Financial Services’s payout ratio is currently 27.46%.

Insider Activity

In other news, Director Brian D. Brunner acquired 1,000 shares of the stock in a transaction dated Wednesday, March 18th. The shares were acquired at an average cost of $34.02 per share, for a total transaction of $34,020.00. Following the completion of the transaction, the director owned 50,529 shares in the company, valued at approximately $1,718,996.58. This trade represents a 2.02% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of Orrstown Financial Services

Institutional investors and hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue bought a new stake in Orrstown Financial Services in the third quarter valued at $26,000. Quarry LP bought a new stake in Orrstown Financial Services in the third quarter valued at $42,000. Raymond James Financial Inc. bought a new stake in Orrstown Financial Services in the second quarter valued at $45,000. Tower Research Capital LLC TRC grew its position in Orrstown Financial Services by 86.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,748 shares of the bank’s stock valued at $56,000 after acquiring an additional 810 shares during the period. Finally, Russell Investments Group Ltd. grew its position in Orrstown Financial Services by 220.4% in the third quarter. Russell Investments Group Ltd. now owns 2,070 shares of the bank’s stock valued at $70,000 after acquiring an additional 1,424 shares during the period. 44.27% of the stock is currently owned by institutional investors.

Orrstown Financial Services Company Profile

Orrstown Financial Services, Inc is the bank holding company for Orrstown Bank, a community banking organization headquartered in Shippensburg, Pennsylvania. The roots of Orrstown Bank date back to 1865, and the holding company structure was established to support its growth and diversification. As a regional financial institution, Orrstown Financial Services focuses on delivering personalized banking solutions to individuals, families and businesses across Central Pennsylvania.

The company’s core offerings include a full suite of deposit products such as checking and savings accounts, money market accounts and certificates of deposit.