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

Orrstown Financial Services Inc (NASDAQ:ORRF) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $32.57 and traded as high as $34.27. Orrstown Financial Services shares last traded at $33.70, with a volume of 94,934 shares traded.

Analyst Ratings Changes

ORRF has been the subject of several analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Orrstown Financial Services in a research note on Wednesday, October 8th. Zacks Research downgraded Orrstown Financial Services from a “strong-buy” rating to a “hold” rating in a report on Friday, October 3rd. Wall Street Zen downgraded Orrstown Financial Services from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $42.00 price target (up previously from $39.00) on shares of Orrstown Financial Services in a research note on Thursday, July 24th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Orrstown Financial Services presently has an average rating of “Moderate Buy” and a consensus target price of $39.25.

Orrstown Financial Services Price Performance

The firm has a market cap of $656.81 million, a P/E ratio of 8.92 and a beta of 0.87. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $34.17 and its two-hundred day moving average is $32.57.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings results on Tuesday, November 8th. The bank reported $0.65 EPS for the quarter. Orrstown Financial Services had a net margin of 20.48% and a return on equity of 14.66%. The business had revenue of $28.27 million for the quarter. As a group, analysts anticipate that Orrstown Financial Services Inc will post 4.23 earnings per share for the current year.

Orrstown Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 12th. Shareholders of record on Wednesday, November 5th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Wednesday, November 5th. Orrstown Financial Services’s payout ratio is presently 28.57%.

Hedge Funds Weigh In On Orrstown Financial Services

A number of institutional investors and hedge funds have recently modified their holdings of the business. Alps Advisors Inc. bought a new stake in shares of Orrstown Financial Services in the 3rd quarter valued at $440,000. Savant Capital LLC bought a new position in Orrstown Financial Services during the third quarter worth $272,000. Y Intercept Hong Kong Ltd acquired a new stake in Orrstown Financial Services in the third quarter worth $594,000. Inspire Advisors LLC grew its holdings in Orrstown Financial Services by 1.0% in the third quarter. Inspire Advisors LLC now owns 32,308 shares of the bank’s stock worth $1,098,000 after purchasing an additional 308 shares during the period. Finally, Rosenthal Henry Capital Advisors Inc. bought a new stake in Orrstown Financial Services in the third quarter valued at $1,668,000. 44.27% of the stock is currently owned by institutional investors.

Orrstown Financial Services Company Profile

Orrstown Financial Services, Inc operates as the financial holding company for Orrstown Bank that provides commercial banking and financial advisory services to retail, commercial, non-profit, and government clients in the United States. It accepts various deposits, including checking, savings, time, demand, and money market deposits, as well as certificates of deposit.