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

Shares of Orrstown Financial Services Inc (NASDAQ:ORRF) passed above its 200-day moving average during trading on Friday . The stock has a 200-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 trading hands.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ORRF shares. Hovde Group raised their target price on Orrstown Financial Services from $40.00 to $42.00 and gave the stock 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 note on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Orrstown Financial Services currently has a consensus rating of “Moderate Buy” and an average target price of $39.67.

Orrstown Financial Services Price Performance

The stock’s fifty day moving average price is $36.77 and its 200-day moving average price is $35.23. The firm has a market cap of $742.56 million, a PE ratio of 9.11 and a beta of 0.83. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.87 and a quick ratio of 0.87.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings data on Tuesday, January 27th. The bank reported $1.11 EPS for the quarter, topping analysts’ consensus estimates 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, equities analysts expect that Orrstown Financial Services Inc will post 4.23 EPS for the current fiscal year.

Orrstown Financial Services Increases Dividend

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

Hedge Funds Weigh In On Orrstown Financial Services

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

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.