Orrstown Financial Services (NASDAQ:ORRF) Shares Cross Above 200 Day Moving Average – Time to Sell?

Orrstown Financial Services Inc (NASDAQ:ORRF)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $36.49 and traded as high as $37.54. Orrstown Financial Services shares last traded at $37.47, with a volume of 104,716 shares.

Wall Street Analysts Forecast Growth

ORRF has been the subject of a number of recent research reports. Weiss Ratings upgraded shares of Orrstown Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. DA Davidson initiated coverage on shares of Orrstown Financial Services in a report on Friday, May 15th. They set a “neutral” rating and a $41.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.67.

Orrstown Financial Services Trading Up 0.6%

The company has a debt-to-equity ratio of 0.06, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market cap of $740.53 million, a price-to-earnings ratio of 8.62 and a beta of 0.70. The company’s fifty day moving average price is $36.91 and its 200-day moving average price is $36.49.

Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.08. Orrstown Financial Services had a net margin of 23.58% and a return on equity of 14.75%. The firm had revenue of $64.58 million for the quarter, compared to the consensus estimate of $63.20 million. On average, research analysts expect that Orrstown Financial Services Inc will post 4.3 EPS for the current fiscal year.

Orrstown Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 12th. Investors of record on Tuesday, May 5th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.2%. The ex-dividend date was Tuesday, May 5th. Orrstown Financial Services’s dividend payout ratio is 27.46%.

Insiders Place Their Bets

In other Orrstown Financial Services news, Director Brian D. Brunner purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The shares were bought at an average price of $34.02 per share, for a total transaction of $34,020.00. Following the acquisition, the director owned 50,529 shares in the company, valued at $1,718,996.58. This represents a 2.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Orrstown Financial Services

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Orrstown Financial Services by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,115,128 shares of the bank’s stock worth $37,892,000 after purchasing an additional 27,125 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Orrstown Financial Services by 8.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 900,674 shares of the bank’s stock valued at $32,496,000 after buying an additional 68,935 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Orrstown Financial Services by 9.2% during the 3rd quarter. Wellington Management Group LLP now owns 608,402 shares of the bank’s stock valued at $20,674,000 after buying an additional 51,140 shares in the last quarter. Millennium Management LLC lifted its position in shares of Orrstown Financial Services by 123.8% during the 1st quarter. Millennium Management LLC now owns 330,322 shares of the bank’s stock valued at $9,913,000 after buying an additional 182,709 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Orrstown Financial Services during the 1st quarter valued at approximately $10,743,000. Hedge funds and other institutional investors own 44.27% of the company’s stock.

About Orrstown Financial Services

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.