Orrstown Financial Services (NASDAQ:ORRF) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Orrstown Financial Services Inc (NASDAQ:ORRF)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $35.23 and traded as high as $38.16. Orrstown Financial Services shares last traded at $38.08, with a volume of 290,319 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ORRF shares. 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 report on Monday, February 2nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Orrstown Financial Services in a research report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $39.67.

Orrstown Financial Services Stock Performance

The business has a 50-day moving average price of $36.77 and a 200-day moving average price of $35.23. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $742.56 million, a price-to-earnings ratio of 9.11 and a beta of 0.83.

Orrstown Financial Services (NASDAQ:ORRF) last announced its earnings results on Tuesday, January 27th. The bank reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.03. Orrstown Financial Services had a return on equity of 15.04% and a net margin of 22.71%.The firm had revenue of $64.92 million for the quarter, compared to the consensus estimate of $51.54 million. As a group, sell-side analysts forecast that Orrstown Financial Services Inc will post 4.23 earnings per share for the current year.

Orrstown Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Tuesday, February 10th were paid a $0.30 dividend. The ex-dividend date was Tuesday, February 10th. This is a positive change from Orrstown Financial Services’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 3.2%. Orrstown Financial Services’s dividend payout ratio (DPR) is 28.71%.

Institutional Investors Weigh In On Orrstown Financial Services

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Orrstown Financial Services by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,115,128 shares of the bank’s stock worth $37,892,000 after buying an additional 27,125 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Orrstown Financial Services by 8.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 831,739 shares of the bank’s stock worth $29,460,000 after purchasing an additional 66,407 shares during the last quarter. Wellington Management Group LLP lifted its position in Orrstown Financial Services by 9.2% during the third quarter. Wellington Management Group LLP now owns 608,402 shares of the bank’s stock valued at $20,674,000 after purchasing an additional 51,140 shares during the period. Geode Capital Management LLC boosted its holdings in Orrstown Financial Services by 5.0% in the second quarter. Geode Capital Management LLC now owns 466,343 shares of the bank’s stock valued at $14,846,000 after purchasing an additional 22,191 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in Orrstown Financial Services by 123.8% in the first quarter. Millennium Management LLC now owns 330,322 shares of the bank’s stock valued at $9,913,000 after purchasing an additional 182,709 shares during the last quarter. Hedge funds and other institutional investors 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.