Orrstown Financial Services (NASDAQ:ORRF) Hits New 12-Month High – Should You Buy?

Orrstown Financial Services Inc (NASDAQ:ORRF) shares hit a new 52-week high during trading on Monday . The stock traded as high as $43.81 and last traded at $43.6750, with a volume of 77757 shares. The stock had previously closed at $42.73.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ORRF. Hovde Group raised their price target on shares of Orrstown Financial Services from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, July 27th. DA Davidson reissued a “neutral” rating and set a $41.00 target price on shares of Orrstown Financial Services in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods raised their target price on Orrstown Financial Services from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Orrstown Financial Services in a research report on Tuesday, July 7th. Finally, Raymond James Financial started coverage on Orrstown Financial Services in a research note on Thursday, July 9th. They set a “market perform” rating for the company. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $44.33.

Orrstown Financial Services Stock Up 2.1%

The business’s 50 day moving average is $39.92 and its 200-day moving average is $37.78. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market capitalization of $857.43 million, a price-to-earnings ratio of 9.81 and a beta of 0.69.

Orrstown Financial Services (NASDAQ:ORRF) last announced its earnings results on Tuesday, July 21st. The bank reported $1.09 EPS for the quarter, topping the consensus estimate of $1.03 by $0.06. The firm had revenue of $64.30 million for the quarter, compared to the consensus estimate of $64.10 million. Orrstown Financial Services had a net margin of 24.00% and a return on equity of 14.66%. Equities analysts anticipate that Orrstown Financial Services Inc will post 4.41 EPS for the current fiscal year.

Orrstown Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, August 4th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Tuesday, August 4th. Orrstown Financial Services’s dividend payout ratio (DPR) is currently 26.97%.

Insider Activity at Orrstown Financial Services

In other news, EVP Amy Doll sold 3,002 shares of Orrstown Financial Services stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $41.61, for a total value of $124,913.22. Following the transaction, the executive vice president directly owned 25,669 shares in the company, valued at approximately $1,068,087.09. The trade was a 10.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.30% of the company’s stock.

Institutional Trading of Orrstown Financial Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ORRF. UBS Group AG increased its position in Orrstown Financial Services by 99.3% in the 4th quarter. UBS Group AG now owns 102,329 shares of the bank’s stock worth $3,624,000 after buying an additional 50,979 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Orrstown Financial Services by 85.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 52,945 shares of the bank’s stock worth $1,875,000 after acquiring an additional 24,412 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Orrstown Financial Services during the first quarter worth $10,743,000. Principal Financial Group Inc. bought a new position in Orrstown Financial Services during the first quarter worth $2,111,000. Finally, Y Intercept Hong Kong Ltd raised its stake in Orrstown Financial Services by 53.2% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 53,877 shares of the bank’s stock valued at $1,944,000 after purchasing an additional 18,703 shares during the last quarter. Institutional investors and hedge funds 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.