Orrstown Financial Services (NASDAQ:ORRF) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Orrstown Financial Services Inc (NASDAQ:ORRF)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $32.10 and traded as high as $34.95. Orrstown Financial Services shares last traded at $34.61, with a volume of 104,276 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ORRF shares. Keefe, Bruyette & Woods restated an “outperform” rating and set a $42.00 price target (up previously from $39.00) on shares of Orrstown Financial Services in a research note on Thursday, July 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Orrstown Financial Services in a research report on Wednesday, October 8th. Zacks Research cut Orrstown Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. Finally, Wall Street Zen cut Orrstown Financial Services from a “buy” rating to a “hold” rating in a research report on Saturday, August 16th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $39.25.

Orrstown Financial Services Stock Up 1.4%

The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a fifty day moving average price of $34.24 and a 200 day moving average price of $32.10. The firm has a market capitalization of $674.55 million, a price-to-earnings ratio of 9.16 and a beta of 0.83.

Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings results on Tuesday, November 8th. The bank reported $0.65 EPS for the quarter. The business had revenue of $28.27 million during the quarter. Orrstown Financial Services had a return on equity of 14.66% and a net margin of 20.48%. As a group, sell-side analysts expect that Orrstown Financial Services Inc will post 4.23 EPS for the current fiscal year.

Orrstown Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 12th. Shareholders of record on Wednesday, November 5th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Wednesday, November 5th. Orrstown Financial Services’s payout ratio is presently 28.57%.

Institutional Trading of Orrstown Financial Services

A number of institutional investors have recently bought and sold shares of the company. Vista Investment Management boosted its position in Orrstown Financial Services by 5.6% during the second quarter. Vista Investment Management now owns 8,444 shares of the bank’s stock worth $269,000 after purchasing an additional 450 shares in the last quarter. Principal Financial Group Inc. boosted its position in Orrstown Financial Services by 3.2% during the first quarter. Principal Financial Group Inc. now owns 14,997 shares of the bank’s stock worth $450,000 after purchasing an additional 462 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Orrstown Financial Services by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,009 shares of the bank’s stock worth $330,000 after purchasing an additional 490 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in Orrstown Financial Services by 7.4% during the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 7,302 shares of the bank’s stock worth $232,000 after purchasing an additional 500 shares in the last quarter. Finally, CWM LLC boosted its position in Orrstown Financial Services by 36.9% during the second quarter. CWM LLC now owns 2,417 shares of the bank’s stock worth $77,000 after purchasing an additional 651 shares in the last quarter. 44.27% of the stock is currently owned by hedge funds and other institutional investors.

About Orrstown Financial Services

Orrstown Financial Services, Inc operates as the financial holding company for Orrstown Bank that provides commercial banking and financial advisory services to retail, commercial, non-profit, and government clients in the United States. It accepts various deposits, including checking, savings, time, demand, and money market deposits, as well as certificates of deposit.