Orrstown Financial Services (NASDAQ:ORRF) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Orrstown Financial Services Inc (NASDAQ:ORRF)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $34.14 and traded as high as $36.16. Orrstown Financial Services shares last traded at $35.72, with a volume of 144,829 shares changing hands.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Zacks Research cut shares of Orrstown Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Orrstown Financial Services in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $39.25.

Orrstown Financial Services Trading Down 0.2%

The business has a 50 day simple moving average of $35.43 and a two-hundred day simple moving average of $34.19. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.06. The company has a market cap of $690.69 million, a PE ratio of 9.37 and a beta of 0.82.

Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings results on Tuesday, November 8th. The bank reported $0.65 earnings per share for the quarter. The company had revenue of $28.27 million for the quarter. Orrstown Financial Services had a net margin of 20.48% and a return on equity of 14.39%. On average, analysts forecast that Orrstown Financial Services Inc will post 4.23 EPS for the current fiscal year.

Orrstown Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 12th. Stockholders of record on Wednesday, November 5th were paid a dividend of $0.27 per share. The ex-dividend date was Wednesday, November 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.0%. Orrstown Financial Services’s dividend payout ratio (DPR) is currently 28.57%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ORRF. Caldwell Trust Co acquired a new position in Orrstown Financial Services during the 2nd quarter worth $25,000. State of Alaska Department of Revenue bought a new position in shares of Orrstown Financial Services during the third quarter worth about $26,000. Financial Consulate Inc. acquired a new position in Orrstown Financial Services in the third quarter worth about $36,000. Quarry LP acquired a new position in Orrstown Financial Services in the third quarter worth about $42,000. Finally, Raymond James Financial Inc. bought a new stake in Orrstown Financial Services in the second quarter valued at about $45,000. 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.