Orrstown Financial Services Inc (NASDAQ:ORRF - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $31.94 and traded as high as $32.19. Orrstown Financial Services shares last traded at $31.83, with a volume of 106,911 shares.
Analysts Set New Price Targets
ORRF has been the topic of several research analyst reports. Hovde Group upped their price objective on shares of Orrstown Financial Services from $35.00 to $37.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. Keefe, Bruyette & Woods decreased their price target on shares of Orrstown Financial Services from $40.00 to $37.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Finally, Raymond James Financial initiated coverage on shares of Orrstown Financial Services in a research note on Thursday, April 10th. They set an "outperform" rating and a $35.00 price target on the stock.
Read Our Latest Stock Analysis on ORRF
Orrstown Financial Services Price Performance
The company has a debt-to-equity ratio of 0.13, a current ratio of 0.87 and a quick ratio of 0.87. The company's 50 day moving average price is $30.67 and its 200 day moving average price is $31.89. The firm has a market capitalization of $658.95 million, a P/E ratio of 17.23 and a beta of 0.79.
Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The bank reported $1.00 EPS for the quarter, beating the consensus estimate of $0.95 by $0.05. Orrstown Financial Services had a net margin of 9.74% and a return on equity of 14.35%. The business had revenue of $60.39 million for the quarter, compared to analysts' expectations of $51.83 million. During the same period in the prior year, the firm earned $0.88 earnings per share. As a group, sell-side analysts anticipate that Orrstown Financial Services Inc will post 4.23 EPS for the current fiscal year.
Orrstown Financial Services Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 13th. Investors of record on Tuesday, May 6th were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $1.04 annualized dividend and a yield of 3.08%. Orrstown Financial Services's dividend payout ratio is currently 53.06%.
Hedge Funds Weigh In On Orrstown Financial Services
Several large investors have recently bought and sold shares of the business. Summit Investment Advisors Inc. lifted its holdings in Orrstown Financial Services by 21.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,942 shares of the bank's stock valued at $71,000 after buying an additional 349 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Orrstown Financial Services by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,519 shares of the bank's stock valued at $385,000 after buying an additional 456 shares during the period. Principal Financial Group Inc. lifted its holdings in Orrstown Financial Services by 3.2% in the first quarter. Principal Financial Group Inc. now owns 14,997 shares of the bank's stock valued at $450,000 after buying an additional 462 shares during the period. Sterling Capital Management LLC lifted its holdings in Orrstown Financial Services by 4.9% in the fourth quarter. Sterling Capital Management LLC now owns 11,258 shares of the bank's stock valued at $412,000 after buying an additional 524 shares during the period. Finally, Deutsche Bank AG lifted its holdings in Orrstown Financial Services by 4.7% in the first quarter. Deutsche Bank AG now owns 15,690 shares of the bank's stock valued at $471,000 after buying an additional 705 shares during the period. 44.27% of the stock is currently owned by institutional investors and hedge funds.
Orrstown Financial Services Company Profile
(
Get Free Report)
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.
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