Orrstown Financial Services, Inc. (NASDAQ:ORRF)’s stock price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $21.59 and traded as high as $21.82. Orrstown Financial Services shares last traded at $21.76, with a volume of 3,690 shares trading hands.

A number of equities analysts have recently commented on the stock. ValuEngine raised shares of Yirendai from a “strong sell” rating to a “sell” rating in a research report on Friday, May 3rd. Hovde Group assumed coverage on shares of Orrstown Financial Services in a research report on Friday, May 31st. They issued an “outperform” rating and a $25.00 price target on the stock. Sandler O’Neill lowered shares of Orrstown Financial Services from a “buy” rating to a “hold” rating and dropped their price target for the company from $22.00 to $21.50 in a research report on Friday, March 29th. Boenning Scattergood reissued an “outperform” rating and issued a $47.75 price target on shares of WSFS Financial in a research report on Thursday, June 20th. Finally, Zacks Investment Research lowered shares of Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, June 26th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Orrstown Financial Services currently has a consensus rating of “Buy” and a consensus target price of $25.70.

The stock has a 50-day simple moving average of $21.59. The company has a market capitalization of $207.56 million, a price-to-earnings ratio of 12.09 and a beta of 0.60. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.75.

Orrstown Financial Services (NASDAQ:ORRF) last announced its earnings results on Wednesday, April 24th. The bank reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.02. Orrstown Financial Services had a net margin of 13.42% and a return on equity of 9.45%. The business had revenue of $19.92 million for the quarter, compared to analyst estimates of $19.65 million. Analysts expect that Orrstown Financial Services, Inc. will post 1.69 earnings per share for the current fiscal year.

The business also recently announced a dividend, which was paid on Friday, July 5th. Investors of record on Tuesday, April 30th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, April 29th. This is a positive change from Orrstown Financial Services’s previous dividend of $0.07. Orrstown Financial Services’s payout ratio is 33.15%.

Hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased its position in Orrstown Financial Services by 517.6% during the first quarter. BNP Paribas Arbitrage SA now owns 1,575 shares of the bank’s stock worth $29,000 after acquiring an additional 1,320 shares during the period. Bank of America Corp DE increased its holdings in Orrstown Financial Services by 20.5% in the 4th quarter. Bank of America Corp DE now owns 6,909 shares of the bank’s stock valued at $127,000 after buying an additional 1,177 shares during the period. Rhumbline Advisers bought a new stake in Orrstown Financial Services in the 4th quarter valued at $189,000. Globeflex Capital L P bought a new stake in Orrstown Financial Services in the 4th quarter valued at $220,000. Finally, Emerald Advisers LLC bought a new stake in Orrstown Financial Services in the 1st quarter valued at $240,000. 39.77% of the stock is currently owned by institutional investors and hedge funds.

About Orrstown Financial Services (NASDAQ:ORRF)

Orrstown Financial Services, Inc operates as the holding company for Orrstown Bank that provides commercial banking and trust services in the United States. The company accepts various deposits, including checking, savings, time, demand, and money market deposits. It also offers commercial loans, such as commercial real estate, equipment, working capital, and other commercial purpose loans; consumer loans comprising home equity and other consumer loans, as well as home equity lines of credit; residential mortgage loans; agribusiness loans; acquisition and development loans; municipal loans; and installment and other loans.

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