Orrstown Financial Services (NASDAQ:ORRF) Sets New 12-Month High – Should You Buy?

Orrstown Financial Services Inc (NASDAQ:ORRF) shares reached a new 52-week high on Wednesday . The company traded as high as $40.79 and last traded at $40.6650, with a volume of 182192 shares changing hands. The stock had previously closed at $39.75.

Wall Street Analyst Weigh In

Separately, DA Davidson initiated coverage on shares of Orrstown Financial Services in a research report on Friday, May 15th. They issued a “neutral” rating and a $41.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.67.

Orrstown Financial Services Stock Up 2.5%

The stock has a fifty day moving average of $37.46 and a 200 day moving average of $36.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market capitalization of $800.48 million, a P/E ratio of 9.29 and a beta of 0.70.

Orrstown Financial Services (NASDAQ:ORRF) last announced its earnings results on Wednesday, April 22nd. The bank reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.08. The firm had revenue of $64.58 million during the quarter, compared to analyst estimates of $63.20 million. Orrstown Financial Services had a return on equity of 14.75% and a net margin of 23.58%. On average, research analysts anticipate that Orrstown Financial Services Inc will post 4.3 EPS for the current fiscal year.

Orrstown Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Investors of record on Tuesday, May 5th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Tuesday, May 5th. Orrstown Financial Services’s dividend payout ratio (DPR) is 27.46%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ORRF. Vanguard Group Inc. raised its position in shares of Orrstown Financial Services by 2.5% in the third quarter. Vanguard Group Inc. now owns 1,115,128 shares of the bank’s stock valued at $37,892,000 after purchasing an additional 27,125 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Orrstown Financial Services by 8.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 900,674 shares of the bank’s stock valued at $32,496,000 after purchasing an additional 68,935 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Orrstown Financial Services by 9.2% in the third quarter. Wellington Management Group LLP now owns 608,402 shares of the bank’s stock worth $20,674,000 after buying an additional 51,140 shares in the last quarter. Millennium Management LLC boosted its stake in Orrstown Financial Services by 123.8% during the first quarter. Millennium Management LLC now owns 330,322 shares of the bank’s stock valued at $9,913,000 after buying an additional 182,709 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in Orrstown Financial Services during the first quarter valued at $10,743,000. 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.