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

Orrstown Financial Services, Inc. (NASDAQ:ORRF) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $36.13 and traded as high as $36.91. Orrstown Financial Services shares last traded at $36.61, with a volume of 86,434 shares trading hands.

Analyst Ratings Changes

A number of research analysts have weighed in on ORRF shares. Hovde Group downgraded Orrstown Financial Services from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 13th. Piper Sandler initiated coverage on shares of Orrstown Financial Services in a report on Wednesday, January 8th. They set an “overweight” rating and a $43.00 target price for the company.

Orrstown Financial Services Stock Down 0.7 %

The company has a fifty day moving average price of $37.17 and a 200-day moving average price of $36.18. The stock has a market capitalization of $704.49 million, a P/E ratio of 19.54 and a beta of 0.91. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.13.

Orrstown Financial Services (NASDAQ:ORRF) last announced its earnings results on Friday, January 31st. The bank reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.17). Orrstown Financial Services had a net margin of 6.63% and a return on equity of 14.41%. As a group, research analysts forecast that Orrstown Financial Services, Inc. will post 4 EPS for the current fiscal year.

Orrstown Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 14th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.86%. This is an increase from Orrstown Financial Services’s previous quarterly dividend of $0.23. Orrstown Financial Services’s payout ratio is currently 56.52%.

Institutional Trading of Orrstown Financial Services

A number of institutional investors have recently bought and sold shares of the stock. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Orrstown Financial Services in the 4th quarter worth about $38,000. R Squared Ltd purchased a new stake in Orrstown Financial Services in the 4th quarter worth about $42,000. CWM LLC lifted its stake in Orrstown Financial Services by 31.0% in the third quarter. CWM LLC now owns 2,217 shares of the bank’s stock worth $80,000 after purchasing an additional 525 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of Orrstown Financial Services during the fourth quarter valued at approximately $92,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Orrstown Financial Services during the fourth quarter valued at approximately $123,000. 44.27% of the stock is currently owned by institutional investors.

About Orrstown Financial Services

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.