Orrstown Financial Services (NASDAQ:ORRF) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

Orrstown Financial Services Inc (NASDAQ:ORRF) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $36.82 and traded as high as $39.96. Orrstown Financial Services shares last traded at $39.75, with a volume of 264,850 shares.

Analyst Upgrades and Downgrades

Separately, DA Davidson began coverage on shares of Orrstown Financial Services in a report on Friday, May 15th. They issued a “neutral” rating and a $41.00 price objective on the stock. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $41.67.

Orrstown Financial Services Trading Up 0.1%

The company has a 50-day moving average price of $37.51 and a 200-day moving average price of $36.85. The firm has a market capitalization of $800.34 million, a price-to-earnings ratio of 9.32 and a beta of 0.70. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.87 and a current ratio of 0.87.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.08. Orrstown Financial Services had a return on equity of 14.75% and a net margin of 23.58%.The business had revenue of $64.58 million for the quarter, compared to the consensus estimate of $63.20 million. As a group, research analysts forecast that Orrstown Financial Services Inc will post 4.3 EPS for the current fiscal year.

Orrstown Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 12th. Shareholders of record on Tuesday, May 5th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.9%. The ex-dividend date was Tuesday, May 5th. Orrstown Financial Services’s dividend payout ratio is currently 27.46%.

Institutional Trading of Orrstown Financial Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ORRF. Royal Bank of Canada boosted its holdings in shares of Orrstown Financial Services by 5.7% in the 4th quarter. Royal Bank of Canada now owns 4,963 shares of the bank’s stock valued at $176,000 after buying an additional 267 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Orrstown Financial Services by 5.3% in the 4th quarter. SG Americas Securities LLC now owns 8,797 shares of the bank’s stock valued at $312,000 after buying an additional 440 shares during the last quarter. Vista Investment Management raised its stake in Orrstown Financial Services by 5.6% during the 2nd quarter. Vista Investment Management now owns 8,444 shares of the bank’s stock worth $269,000 after acquiring an additional 450 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Orrstown Financial Services by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,009 shares of the bank’s stock worth $330,000 after acquiring an additional 490 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Orrstown Financial Services by 86.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,748 shares of the bank’s stock valued at $56,000 after acquiring an additional 810 shares during the last quarter. Institutional investors and hedge funds own 44.27% of the company’s stock.

Orrstown Financial Services Company Profile

Orrstown Financial Services, Inc is the bank holding company for Orrstown Bank, a community banking organization headquartered in Shippensburg, Pennsylvania. The roots of Orrstown Bank date back to 1865, and the holding company structure was established to support its growth and diversification. As a regional financial institution, Orrstown Financial Services focuses on delivering personalized banking solutions to individuals, families and businesses across Central Pennsylvania.

The company’s core offerings include a full suite of deposit products such as checking and savings accounts, money market accounts and certificates of deposit.