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

Orrstown Financial Services Inc (NASDAQ:ORRF) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $34.14 and traded as high as $36.16. Orrstown Financial Services shares last traded at $35.72, with a volume of 144,829 shares traded.

Analysts Set New Price Targets

ORRF has been the topic of several research analyst reports. Weiss Ratings reiterated 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. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Orrstown Financial Services presently has an average rating of “Moderate Buy” and a consensus price target of $39.25.

Orrstown Financial Services Price Performance

The firm has a market cap of $696.50 million, a P/E ratio of 9.45 and a beta of 0.82. 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 firm’s 50 day moving average is $35.38 and its 200 day moving average is $34.14.

Orrstown Financial Services (NASDAQ:ORRF) last announced its earnings results on Tuesday, November 8th. The bank reported $0.65 earnings per share for the quarter. Orrstown Financial Services had a net margin of 20.48% and a return on equity of 14.39%. The business had revenue of $28.27 million during the quarter. As a group, analysts anticipate that Orrstown Financial Services Inc will post 4.23 earnings per share for the current year.

Orrstown Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 12th. Shareholders of record on Wednesday, November 5th were paid a dividend of $0.27 per share. The ex-dividend date was Wednesday, November 5th. This represents a $1.08 dividend on an annualized basis and a yield of 3.0%. Orrstown Financial Services’s payout ratio is presently 28.57%.

Hedge Funds Weigh In On Orrstown Financial Services

Several institutional investors and hedge funds have recently modified their holdings of ORRF. Caldwell Trust Co purchased a new position in shares of Orrstown Financial Services in the 2nd quarter worth about $25,000. State of Alaska Department of Revenue bought a new stake in Orrstown Financial Services during the 3rd quarter valued at about $26,000. Financial Consulate Inc. purchased a new position in Orrstown Financial Services in the third quarter worth about $36,000. Quarry LP purchased a new position in Orrstown Financial Services in the third quarter worth about $42,000. Finally, Raymond James Financial Inc. bought a new position in shares of Orrstown Financial Services in the second quarter worth approximately $45,000. 44.27% of the stock is currently owned by institutional investors.

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.