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

Orrstown Financial Services Inc (NASDAQ:ORRF)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $34.38 and traded as high as $35.54. Orrstown Financial Services shares last traded at $35.36, with a volume of 242,890 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Zacks Research downgraded Orrstown Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Orrstown Financial Services in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Orrstown Financial Services Stock Performance

The company’s fifty day moving average price is $35.57 and its two-hundred day moving average price is $34.38. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market capitalization of $689.48 million, a PE ratio of 9.35 and a beta of 0.82.

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

Orrstown Financial Services Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caldwell Trust Co purchased a new stake in Orrstown Financial Services during the second quarter valued at about $25,000. State of Alaska Department of Revenue acquired a new position in shares of Orrstown Financial Services in the 3rd quarter valued at about $26,000. Financial Consulate Inc. acquired a new position in shares of Orrstown Financial Services in the 3rd quarter valued at about $36,000. Quarry LP purchased a new stake in shares of Orrstown Financial Services during the 3rd quarter worth about $42,000. Finally, Raymond James Financial Inc. acquired a new stake in Orrstown Financial Services during the 2nd quarter worth approximately $45,000. Institutional investors and hedge funds 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.