Orrstown Financial Services (NASDAQ:ORRF) Stock Price Breaks Above 200-Day Moving Average - Time to Sell?

Key Points

• ORRF shares broke above their 200-day moving average, reaching $42.10 and last trading at $41.85, compared with a 200-day average of $39.27.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $44.33; recent targets were raised to $46 by Keefe, Bruyette & Woods and Hovde Group.
• The company exceeded quarterly EPS expectations, reporting $1.09 versus $1.03 projected, and maintains a quarterly dividend of $0.30 per share, equivalent to a 2.9% yield; an executive vice president recently sold 3,002 shares.

Orrstown Financial Services Inc (NASDAQ:ORRF - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $39.27 and traded as high as $42.10. Orrstown Financial Services shares last traded at $41.85, with a volume of 98,820 shares changing hands.

Analysts Set New Price Targets

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

Orrstown Financial Services Stock Up 2.0%

The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.01. The business has a 50-day simple moving average of $42.37 and a 200-day simple moving average of $39.27. The company has a market cap of $823.19 million, a PE ratio of 9.40 and a beta of 0.69.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The bank reported $1.09 earnings per share for the quarter, topping 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. Equities research analysts anticipate that Orrstown Financial Services Inc will post 4.41 EPS for the current year.

Orrstown Financial Services Dividend Announcement

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

Insiders Place Their Bets

In other Orrstown Financial Services news, EVP Amy Doll sold 3,002 shares of the business's stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $41.61, for a total transaction of $124,913.22. Following the completion of the sale, the executive vice president directly owned 25,669 shares in the company, valued at approximately $1,068,087.09. The trade was a 10.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ORRF. BlackRock Inc. acquired a new stake in Orrstown Financial Services during the 2nd quarter worth $68,607,000. Dimensional Fund Advisors LP raised 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 valued at $32,496,000 after buying an additional 68,935 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Orrstown Financial Services in the first quarter valued at about $10,743,000. The Manufacturers Life Insurance Company purchased a new position in shares of Orrstown Financial Services in the second quarter worth about $9,286,000. Finally, Man Group plc purchased a new position in Orrstown Financial Services in the 2nd quarter worth approximately $5,962,000. 44.27% of the stock is owned by institutional investors and hedge funds.

Orrstown Financial Services Company Profile

Orrstown Financial Services Corporation NASDAQ: ORRF 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, agricultural customers and nonprofit organizations.

Orrstown Bank offers deposit accounts, consumer and commercial loans, residential mortgage lending, agricultural financing, treasury management and other business banking services.

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