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

Key Points

• Orrstown Financial Services reached a new 52-week high, trading as high as $43.81 and closing near $43.68. Analysts’ average rating is “Moderate Buy,” with an average price target of $44.33, although ratings are split between Buy and Hold.
• The bank reported quarterly EPS of $1.09, exceeding consensus estimates of $1.03, while revenue of $64.3 million also slightly topped expectations. It posted a 24% net margin and 14.66% return on equity.
• Orrstown declared a quarterly dividend of $0.30 per share, equivalent to $1.20 annually and a 2.8% yield. An executive recently sold 3,002 shares, while institutional investors and hedge funds own 44.27% of the stock.

Orrstown Financial Services Inc (NASDAQ:ORRF - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $43.81 and last traded at $43.6750, with a volume of 77757 shares trading hands. The stock had previously closed at $42.73.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Orrstown Financial Services in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods boosted their price objective on Orrstown Financial Services from $44.00 to $46.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. DA Davidson reaffirmed a "neutral" rating and set a $41.00 price objective on shares of Orrstown Financial Services in a research note on Wednesday, July 22nd. Raymond James Financial initiated coverage on shares of Orrstown Financial Services in a report on Thursday, July 9th. They issued a "market perform" rating for the company. Finally, Hovde Group lifted their price objective on shares of Orrstown Financial Services from $42.00 to $46.00 and gave the stock an "outperform" rating in a research report on Monday, July 27th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Orrstown Financial Services currently has an average rating of "Moderate Buy" and an average price target of $44.33.

Orrstown Financial Services Stock Performance

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 $857.43 million, a price-to-earnings ratio of 9.81 and a beta of 0.69. The firm's fifty day moving average is $39.92 and its 200 day moving average is $37.78.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The bank reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $1.03 by $0.06. Orrstown Financial Services had a net margin of 24.00% and a return on equity of 14.66%. The firm had revenue of $64.30 million for the quarter, compared to the consensus estimate of $64.10 million. On average, analysts predict that Orrstown Financial Services Inc will post 4.41 EPS for the current fiscal year.

Orrstown Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, August 4th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Tuesday, August 4th. Orrstown Financial Services's payout ratio is currently 26.97%.

Insider Buying and Selling at Orrstown Financial Services

In other news, EVP Amy Doll sold 3,002 shares of the company's stock in a transaction on Monday, July 27th. The shares were sold at an average price of $41.61, for a total value of $124,913.22. Following the transaction, the executive vice president directly owned 25,669 shares of the company's stock, valued at approximately $1,068,087.09. This represents a 10.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 4.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Quarry LP purchased a new stake in shares of Orrstown Financial Services during the 3rd quarter worth about $42,000. Raymond James Financial Inc. acquired a new position in Orrstown Financial Services in the second quarter worth approximately $45,000. Tower Research Capital LLC TRC increased its holdings in Orrstown Financial Services by 86.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,748 shares of the bank's stock worth $56,000 after buying an additional 810 shares during the last quarter. Russell Investments Group Ltd. raised its position in Orrstown Financial Services by 220.4% during the third quarter. Russell Investments Group Ltd. now owns 2,070 shares of the bank's stock valued at $70,000 after acquiring an additional 1,424 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in Orrstown Financial Services by 120.7% during the third quarter. BNP Paribas Financial Markets now owns 4,061 shares of the bank's stock valued at $138,000 after acquiring an additional 2,221 shares in the last quarter. 44.27% of the stock is owned by institutional investors and hedge funds.

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.

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