Orrstown Financial Services (NASDAQ:ORRF) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Orrstown Financial Services Inc (NASDAQ:ORRF) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $36.82 and traded as high as $39.96. Orrstown Financial Services shares last traded at $39.75, with a volume of 264,850 shares changing hands.

Analyst Upgrades and Downgrades

Separately, DA Davidson began coverage on shares of Orrstown Financial Services in a research note on Friday, May 15th. They set a “neutral” rating and a $41.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.67.

Orrstown Financial Services Stock Up 1.7%

The firm has a 50-day moving average of $37.46 and a two-hundred day moving average of $36.82. 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 company has a market capitalization of $781.09 million, a PE ratio of 9.10 and a beta of 0.70.

Orrstown Financial Services (NASDAQ:ORRF) last posted its earnings results on Wednesday, April 22nd. The bank reported $1.12 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $63.20 million. Equities research analysts predict that Orrstown Financial Services Inc will post 4.3 earnings per share for the current fiscal year.

Orrstown Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Investors of record on Tuesday, May 5th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, May 5th. Orrstown Financial Services’s dividend payout ratio (DPR) is presently 27.46%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its stake in shares of Orrstown Financial Services by 5.7% in the fourth quarter. Royal Bank of Canada now owns 4,963 shares of the bank’s stock valued at $176,000 after buying an additional 267 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Orrstown Financial Services by 5.3% during the 4th quarter. SG Americas Securities LLC now owns 8,797 shares of the bank’s stock valued at $312,000 after acquiring an additional 440 shares during the period. Vista Investment Management boosted its holdings in Orrstown Financial Services by 5.6% during the 2nd quarter. Vista Investment Management now owns 8,444 shares of the bank’s stock valued at $269,000 after acquiring an additional 450 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Orrstown Financial Services by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,009 shares of the bank’s stock valued at $330,000 after acquiring an additional 490 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Orrstown Financial Services by 86.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,748 shares of the bank’s stock valued at $56,000 after acquiring an additional 810 shares in the last quarter. 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.