Orrstown Financial Services, Inc. (NASDAQ:ORRF) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $21.71 and traded as high as $22.09. Orrstown Financial Services shares last traded at $22.09, with a volume of 3,516 shares trading hands.

Separately, Zacks Investment Research cut Orrstown Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Orrstown Financial Services presently has an average rating of “Hold” and a consensus target price of $23.83.

The firm has a market cap of $239.81 million, a price-to-earnings ratio of 12.39 and a beta of 0.58. The company’s fifty day moving average is $21.85 and its 200 day moving average is $21.72. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.43.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). Orrstown Financial Services had a net margin of 12.07% and a return on equity of 8.97%. The business had revenue of $26.70 million during the quarter, compared to analyst estimates of $24.22 million. On average, equities research analysts forecast that Orrstown Financial Services, Inc. will post 1.88 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.72%. Orrstown Financial Services’s dividend payout ratio is 33.15%.

In related news, CEO Thomas R. Quinn, Jr. sold 5,261 shares of Orrstown Financial Services stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $22.36, for a total value of $117,635.96. Following the sale, the chief executive officer now owns 53,471 shares of the company’s stock, valued at $1,195,611.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.00% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in ORRF. FMR LLC boosted its holdings in shares of Orrstown Financial Services by 5,382.4% in the 1st quarter. FMR LLC now owns 60,690 shares of the bank’s stock valued at $1,128,000 after buying an additional 59,583 shares during the last quarter. Bailard Inc. bought a new stake in Orrstown Financial Services during the second quarter worth $211,000. Wells Fargo & Company MN lifted its stake in Orrstown Financial Services by 47.3% in the second quarter. Wells Fargo & Company MN now owns 142,679 shares of the bank’s stock valued at $3,138,000 after acquiring an additional 45,799 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Orrstown Financial Services by 274.3% in the second quarter. JPMorgan Chase & Co. now owns 25,613 shares of the bank’s stock valued at $564,000 after acquiring an additional 18,770 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Orrstown Financial Services by 10.9% in the second quarter. Acadian Asset Management LLC now owns 67,557 shares of the bank’s stock valued at $1,485,000 after acquiring an additional 6,616 shares during the last quarter. Institutional investors own 42.19% of the company’s stock.

About Orrstown Financial Services (NASDAQ:ORRF)

Orrstown Financial Services, Inc operates as the holding company for Orrstown Bank that provides commercial banking and trust services in the United States. The company accepts various deposits, including checking, savings, time, demand, and money market deposits. It also offers commercial loans, such as commercial real estate, equipment, working capital, and other commercial purpose loans; consumer loans comprising home equity and other consumer loans, as well as home equity lines of credit; residential mortgage loans; agribusiness loans; acquisition and development loans; municipal loans; and installment and other loans.

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