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

Orrstown Financial Services Inc (NASDAQ:ORRF)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $35.53 and traded as high as $36.79. Orrstown Financial Services shares last traded at $36.29, with a volume of 163,540 shares traded.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Hovde Group upped their price target on Orrstown Financial Services from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. Weiss Ratings upgraded Orrstown Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.67.

Orrstown Financial Services Stock Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.87. The stock’s 50 day moving average price is $36.32 and its 200 day moving average price is $35.53. The company has a market capitalization of $712.01 million, a P/E ratio of 8.68 and a beta of 0.77.

Orrstown Financial Services (NASDAQ:ORRF) last announced its earnings results on Wednesday, January 28th. The bank reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. The business had revenue of $73.89 million during the quarter, compared to the consensus estimate of $51.54 million. Orrstown Financial Services had a net margin of 22.71% and a return on equity of 14.77%. As a group, equities analysts expect that Orrstown Financial Services Inc will post 4.23 EPS for the current year.

Orrstown Financial Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Tuesday, February 10th were given a $0.30 dividend. This is a boost from Orrstown Financial Services’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $1.20 annualized dividend and a dividend yield of 3.3%. Orrstown Financial Services’s dividend payout ratio is 28.71%.

Insider Activity

In other Orrstown Financial Services news, Director Brian D. Brunner acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, March 18th. The shares were bought at an average cost of $34.02 per share, with a total value of $34,020.00. Following the purchase, the director directly owned 50,529 shares of the company’s stock, valued at $1,718,996.58. This trade represents a 2.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Orrstown Financial Services

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Orrstown Financial Services by 2.5% in the third quarter. Vanguard Group Inc. now owns 1,115,128 shares of the bank’s stock valued at $37,892,000 after buying an additional 27,125 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Orrstown Financial Services by 8.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 831,739 shares of the bank’s stock worth $29,460,000 after buying an additional 66,407 shares during the period. Wellington Management Group LLP increased its stake in shares of Orrstown Financial Services by 9.2% in the 3rd quarter. Wellington Management Group LLP now owns 608,402 shares of the bank’s stock valued at $20,674,000 after acquiring an additional 51,140 shares in the last quarter. Millennium Management LLC increased its stake in shares of Orrstown Financial Services by 123.8% in the 1st quarter. Millennium Management LLC now owns 330,322 shares of the bank’s stock valued at $9,913,000 after acquiring an additional 182,709 shares in the last quarter. Finally, Kennedy Capital Management LLC lifted its position in shares of Orrstown Financial Services by 569.5% during the 3rd quarter. Kennedy Capital Management LLC now owns 280,723 shares of the bank’s stock valued at $9,539,000 after acquiring an additional 238,790 shares during the period. Institutional investors and hedge funds 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.