Orrstown Financial Services (NASDAQ:ORRF) Stock Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Price breakout: Orrstown Financial Services (ORRF) crossed above its 200‑day moving average ($35.61) on Thursday, trading as high as $39.05 and last at $38.95 on volume of 125,615 shares.
• Analyst sentiment: The stock has seen upgrades (Weiss to Buy) and now carries three Buy and one Hold, with an average rating of "Moderate Buy" and an average target price of $42.00.
• Fundamentals & shareholder returns: The bank beat quarterly EPS estimates ($1.12 vs. $1.08), raised its quarterly dividend to $0.30 (annualized $1.20, ~3.1% yield), and reports a P/E of 9.32 and a 22.7% net margin.

Orrstown Financial Services Inc (NASDAQ:ORRF - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $35.61 and traded as high as $39.05. Orrstown Financial Services shares last traded at $38.95, with a volume of 125,615 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Orrstown Financial Services from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, February 23rd. Hovde Group raised their target price on shares of Orrstown Financial Services from $40.00 to $42.00 and gave the stock an "outperform" rating in a report on Monday, February 2nd. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $42.00.

Orrstown Financial Services Trading Up 2.4%

The firm has a market cap of $764.20 million, a P/E ratio of 9.32 and a beta of 0.77. The firm's fifty day moving average is $36.48 and its two-hundred day moving average is $35.61. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.06.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last released its quarterly earnings results on Wednesday, January 28th. The bank reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.04. The business had revenue of $73.89 million for the quarter, compared to analysts' expectations of $51.54 million. Orrstown Financial Services had a net margin of 22.71% and a return on equity of 14.77%. Analysts predict that Orrstown Financial Services Inc will post 4.23 earnings per share for the current fiscal year.

Orrstown Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Tuesday, February 10th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.1%. This is an increase from Orrstown Financial Services's previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, February 10th. Orrstown Financial Services's dividend payout ratio (DPR) is presently 28.71%.

Insiders Place Their Bets

In related news, Director Brian D. Brunner purchased 1,000 shares of the business's stock in a transaction that occurred on Wednesday, March 18th. The shares were acquired at an average price of $34.02 per share, for a total transaction of $34,020.00. Following the completion of the acquisition, the director directly owned 50,529 shares in the company, valued at approximately $1,718,996.58. The trade was a 2.02% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.30% of the stock is currently owned by company insiders.

Institutional Trading of Orrstown Financial Services

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Orrstown Financial Services by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,115,128 shares of the bank's stock valued at $37,892,000 after buying an additional 27,125 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Orrstown Financial Services by 8.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 831,739 shares of the bank's stock valued at $29,460,000 after buying an additional 66,407 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Orrstown Financial Services by 9.2% during the 3rd quarter. Wellington Management Group LLP now owns 608,402 shares of the bank's stock valued at $20,674,000 after buying an additional 51,140 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Orrstown Financial Services by 123.8% during the 1st 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 in the last quarter. Finally, Kennedy Capital Management LLC boosted its holdings in shares of Orrstown Financial Services by 569.5% during the 3rd quarter. Kennedy Capital Management LLC now owns 280,723 shares of the bank's stock valued at $9,539,000 after buying an additional 238,790 shares in the last quarter. Institutional investors own 44.27% of the company's stock.

Orrstown Financial Services Company Profile

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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