Orrstown Financial Services (NASDAQ:ORRF) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Orrstown Financial Services Inc (NASDAQ:ORRF) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $35.61 and traded as high as $39.05. Orrstown Financial Services shares last traded at $38.95, with a volume of 125,615 shares trading hands.

Analyst Upgrades and Downgrades

ORRF has been the topic of a number of recent analyst reports. Hovde Group lifted their price objective on shares of Orrstown Financial Services from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Weiss Ratings upgraded shares of Orrstown Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Orrstown Financial Services Trading Down 1.4%

The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.06. The firm’s 50-day simple moving average is $36.52 and its 200 day simple moving average is $35.64. The stock has a market capitalization of $753.21 million, a P/E ratio of 9.18 and a beta of 0.77.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings results on Wednesday, January 28th. The bank reported $1.12 EPS for the quarter, topping the consensus estimate of $1.08 by $0.04. Orrstown Financial Services had a net margin of 22.71% and a return on equity of 14.77%. The firm had revenue of $73.89 million for the quarter, compared to analysts’ expectations of $51.54 million. Equities research analysts anticipate that Orrstown Financial Services Inc will post 4.23 EPS for the current fiscal year.

Orrstown Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Tuesday, February 10th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.1%. This is a boost from Orrstown Financial Services’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, February 10th. Orrstown Financial Services’s dividend payout ratio (DPR) is presently 28.71%.

Insider Buying and Selling

In other Orrstown Financial Services news, Director Brian D. Brunner purchased 1,000 shares of the company’s stock in a transaction on Wednesday, March 18th. The shares were purchased 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 $1,718,996.58. The trade was a 2.02% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.30% of the company’s stock.

Institutional Trading of Orrstown Financial Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. Caldwell Trust Co acquired a new stake in Orrstown Financial Services during the 2nd quarter worth about $25,000. State of Alaska Department of Revenue acquired a new stake in Orrstown Financial Services during the 3rd quarter worth about $26,000. Financial Consulate Inc. acquired a new stake in Orrstown Financial Services during the 3rd quarter worth about $36,000. Quarry LP acquired a new stake in Orrstown Financial Services during the 3rd quarter worth about $42,000. Finally, Raymond James Financial Inc. acquired a new stake in Orrstown Financial Services during the 2nd quarter worth about $45,000. Institutional investors and hedge funds own 44.27% of the company’s stock.

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.