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

Shares of Orrstown Financial Services Inc (NASDAQ:ORRF) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $34.67 and traded as high as $37.69. Orrstown Financial Services shares last traded at $37.46, with a volume of 849,839 shares.

Wall Street Analyst Weigh In

ORRF has been the topic of several recent analyst reports. Zacks Research lowered Orrstown Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Orrstown Financial Services in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Orrstown Financial Services Price Performance

The company has a 50 day moving average of $36.08 and a two-hundred day moving average of $34.67. The firm has a market cap of $730.47 million, a P/E ratio of 9.91 and a beta of 0.82. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.06.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings results on Wednesday, October 22nd. The bank reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.07. The company had revenue of $64.37 million during the quarter, compared to the consensus estimate of $51.13 million. Orrstown Financial Services had a net margin of 20.48% and a return on equity of 14.39%. During the same period in the prior year, the company earned $1.11 EPS. Sell-side analysts expect that Orrstown Financial Services Inc will post 4.23 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ORRF. Assenagon Asset Management S.A. purchased a new stake in Orrstown Financial Services during the third quarter valued at about $6,628,000. American Century Companies Inc. raised its holdings in shares of Orrstown Financial Services by 13.1% during the second quarter. American Century Companies Inc. now owns 255,717 shares of the bank’s stock valued at $8,139,000 after acquiring an additional 29,714 shares during the period. Geode Capital Management LLC raised its holdings in shares of Orrstown Financial Services by 5.0% during the second quarter. Geode Capital Management LLC now owns 466,343 shares of the bank’s stock valued at $14,846,000 after acquiring an additional 22,191 shares during the period. Rosenthal Henry Capital Advisors Inc. purchased a new stake in shares of Orrstown Financial Services in the 3rd quarter valued at approximately $1,668,000. Finally, Kennedy Capital Management LLC acquired a new position in Orrstown Financial Services in the 2nd quarter worth approximately $1,335,000. 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.