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

Shares of Orrstown Financial Services Inc (NASDAQ:ORRF) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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.

Analysts Set New Price Targets

Several research analysts recently weighed in on ORRF shares. Weiss Ratings restated a “hold (c+)” rating on shares of Orrstown Financial Services in a research report on Thursday, January 22nd. Hovde Group lifted their target price on Orrstown Financial Services from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Orrstown Financial Services has an average rating of “Moderate Buy” and an average price target of $39.67.

Orrstown Financial Services Stock Up 0.8%

The stock has a market cap of $742.56 million, a price-to-earnings ratio of 9.11 and a beta of 0.83. The firm has a 50 day simple moving average of $36.77 and a two-hundred day simple moving average of $35.26. 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 issued its earnings results on Tuesday, January 27th. The bank reported $1.11 EPS for the quarter, beating the consensus estimate of $1.08 by $0.03. The firm had revenue of $64.92 million during the quarter, compared to the consensus estimate of $51.54 million. Orrstown Financial Services had a net margin of 22.71% and a return on equity of 15.04%. As a group, sell-side analysts expect that Orrstown Financial Services Inc will post 4.23 EPS for the current year.

Orrstown Financial Services Increases Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Kennedy Capital Management LLC boosted its holdings in shares of Orrstown Financial Services by 569.5% in the third quarter. Kennedy Capital Management LLC now owns 280,723 shares of the bank’s stock valued at $9,539,000 after buying an additional 238,790 shares during the period. Marshall Wace LLP acquired a new position in Orrstown Financial Services in the 2nd quarter worth $7,424,000. Assenagon Asset Management S.A. bought a new position in Orrstown Financial Services during the 3rd quarter worth about $6,628,000. Millennium Management LLC increased its holdings in Orrstown Financial Services by 123.8% during the 1st quarter. Millennium Management LLC now owns 330,322 shares of the bank’s stock worth $9,913,000 after purchasing an additional 182,709 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Orrstown Financial Services by 170.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 278,649 shares of the bank’s stock valued at $9,870,000 after purchasing an additional 175,682 shares during the period. Institutional investors 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.