Orrstown Financial Services (NASDAQ:ORRF) Stock Passes Above 200 Day Moving Average – Should You Sell?

Shares of Orrstown Financial Services Inc (NASDAQ:ORRF) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $36.49 and traded as high as $37.54. Orrstown Financial Services shares last traded at $37.47, with a volume of 104,716 shares traded.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Weiss Ratings raised Orrstown Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. DA Davidson began coverage on shares of Orrstown Financial Services in a report on Friday, May 15th. They issued a “neutral” rating and a $41.00 target price for the company. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Orrstown Financial Services presently has an average rating of “Moderate Buy” and a consensus target price of $41.67.

Orrstown Financial Services Trading Up 3.7%

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 cap of $736.29 million, a price-to-earnings ratio of 8.57 and a beta of 0.70. The business has a fifty day simple moving average of $36.86 and a 200-day simple moving average of $36.49.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings results on Wednesday, April 22nd. The bank reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.08. Orrstown Financial Services had a return on equity of 14.75% and a net margin of 23.58%.The company had revenue of $64.58 million for the quarter, compared to analysts’ expectations of $63.20 million. As a group, equities analysts forecast that Orrstown Financial Services Inc will post 4.3 earnings per share for the current fiscal year.

Orrstown Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 12th. Shareholders of record on Tuesday, May 5th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $1.20 annualized dividend and a yield of 3.2%. Orrstown Financial Services’s payout ratio is presently 27.46%.

Insider Activity

In related news, Director Brian D. Brunner bought 1,000 shares of Orrstown Financial Services stock in a transaction that occurred on Wednesday, March 18th. The shares were acquired at an average cost of $34.02 per share, for a total transaction of $34,020.00. Following the completion of the acquisition, the director directly owned 50,529 shares of the company’s stock, valued at approximately $1,718,996.58. The trade was a 2.02% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 4.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Assenagon Asset Management S.A. bought a new stake in Orrstown Financial Services in the 1st quarter valued at about $10,743,000. Kennedy Capital Management LLC lifted its holdings in shares of Orrstown Financial Services by 569.5% in the 3rd quarter. Kennedy Capital Management LLC now owns 280,723 shares of the bank’s stock worth $9,539,000 after purchasing an additional 238,790 shares in the last quarter. Marshall Wace LLP acquired a new stake in Orrstown Financial Services in the 2nd quarter valued at $7,424,000. Millennium Management LLC increased its stake in Orrstown Financial Services by 123.8% during the 1st 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 in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Orrstown Financial Services by 170.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 278,649 shares of the bank’s stock worth $9,870,000 after buying an additional 175,682 shares during the last quarter. 44.27% of the stock is owned by institutional investors.

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.