Orrstown Financial Services Inc (NASDAQ:ORRF - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $31.85 and traded as high as $33.46. Orrstown Financial Services shares last traded at $32.13, with a volume of 165,745 shares traded.
Analysts Set New Price Targets
Several equities research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Orrstown Financial Services from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. Zacks Research cut Orrstown Financial Services from a "strong-buy" rating to a "hold" rating in a report on Friday, October 3rd. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $42.00 target price (up previously from $39.00) on shares of Orrstown Financial Services in a research note on Thursday, July 24th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Orrstown Financial Services in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Orrstown Financial Services has a consensus rating of "Moderate Buy" and a consensus target price of $39.25.
Get Our Latest Research Report on Orrstown Financial Services
Orrstown Financial Services Trading Down 4.2%
The stock's 50-day moving average is $34.17 and its two-hundred day moving average is $31.85. 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 has a market cap of $626.21 million, a P/E ratio of 14.34 and a beta of 0.83.
Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last released its quarterly earnings results on Tuesday, November 8th. The bank reported $0.65 earnings per share for the quarter. The business had revenue of $28.27 million for the quarter. Orrstown Financial Services had a net margin of 11.97% and a return on equity of 14.69%. As a group, equities research 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th were issued a dividend of $0.27 per share. This is a positive change from Orrstown Financial Services's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.08 annualized dividend and a dividend yield of 3.4%. Orrstown Financial Services's payout ratio is currently 48.21%.
Hedge Funds Weigh In On Orrstown Financial Services
Several hedge funds have recently added to or reduced their stakes in the company. CWM LLC grew its holdings in shares of Orrstown Financial Services by 68.6% in the third quarter. CWM LLC now owns 4,075 shares of the bank's stock worth $138,000 after purchasing an additional 1,658 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Orrstown Financial Services during the 3rd quarter worth about $6,628,000. Caldwell Trust Co acquired a new stake in Orrstown Financial Services during the second quarter valued at $25,000. Squarepoint Ops LLC lifted its position in shares of Orrstown Financial Services by 4.5% during the 2nd quarter. Squarepoint Ops LLC now owns 41,281 shares of the bank's stock valued at $1,314,000 after buying an additional 1,779 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in Orrstown Financial Services by 86.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,748 shares of the bank's stock valued at $56,000 after purchasing an additional 810 shares in the last quarter. 44.27% of the stock is currently owned by institutional investors.
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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