Orrstown Financial Services (NASDAQ:ORRF) Shares Break Above 200 Day Moving Average - Should You Sell?

Key Points

• Orrstown Financial Services shares broke above their 200-day moving average, reaching $41.75 and last trading at $41.33, compared with a 200-day average of $39.65.
• Analyst sentiment is favorable overall, with three Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $44.33.
• The company exceeded quarterly EPS expectations, reporting $1.09 versus the $1.03 consensus estimate, and declared a quarterly dividend of $0.30 per share, equal to a 2.9% annualized yield.

Orrstown Financial Services Inc (NASDAQ:ORRF - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $39.65 and traded as high as $41.75. Orrstown Financial Services shares last traded at $41.33, with a volume of 61,206 shares.

Analyst Upgrades and Downgrades

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

Orrstown Financial Services Stock Performance

The company has a market cap of $812.96 million, a P/E ratio of 9.29 and a beta of 0.69. The stock has a 50 day moving average price of $42.26 and a two-hundred day moving average price of $39.65. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.01.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.06. Orrstown Financial Services had a return on equity of 14.46% and a net margin of 24.00%.The business had revenue of $62.67 million during the quarter, compared to the consensus estimate of $64.10 million. On average, research analysts predict that Orrstown Financial Services Inc will post 4.41 earnings per share for the current fiscal year.

Orrstown Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, August 4th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, August 4th. Orrstown Financial Services's dividend payout ratio (DPR) is currently 26.97%.

Insiders Place Their Bets

In other Orrstown Financial Services news, EVP Amy Doll sold 3,002 shares of Orrstown Financial Services stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $41.61, for a total value of $124,913.22. Following the completion of the sale, the executive vice president owned 25,669 shares in the company, valued at $1,068,087.09. The trade was a 10.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Orrstown Financial Services

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Orrstown Financial Services during the 2nd quarter worth $68,607,000. Dimensional Fund Advisors LP increased its position in shares of Orrstown Financial Services by 8.3% in the first quarter. Dimensional Fund Advisors LP now owns 900,674 shares of the bank's stock worth $32,496,000 after purchasing an additional 68,935 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Orrstown Financial Services in the first quarter worth $10,743,000. The Manufacturers Life Insurance Company acquired a new position in Orrstown Financial Services in the second quarter valued at about $9,286,000. Finally, Man Group plc bought a new stake in Orrstown Financial Services during the second quarter worth about $5,962,000. 44.27% of the stock is currently owned by institutional investors.

Orrstown Financial Services Company Profile

Orrstown Financial Services, Inc is a bank holding company headquartered in Shippensburg, Pennsylvania. Through its principal subsidiary, Orrstown Bank, the company provides banking and financial services to individuals, families, businesses, and institutions.

Orrstown Bank offers deposit accounts, consumer and commercial lending, mortgage banking, cash-management and treasury services, online and mobile banking, and wealth-management services. Its lending activities include residential mortgages, home-equity loans, consumer loans, commercial real estate financing, and loans to small and middle-market businesses.

Orrstown Financial Services traces its history to the founding of Orrstown Bank in 1919.

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