Orrstown Financial Services (NASDAQ:ORRF) Shares Cross Above 200 Day Moving Average of $24.20

Orrstown Financial Services, Inc. (NASDAQ:ORRFGet Rating) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $24.20 and traded as high as $26.20. Orrstown Financial Services shares last traded at $26.18, with a volume of 8,344 shares traded.

Wall Street Analysts Forecast Growth

Separately, Boenning Scattergood reaffirmed an “outperform” rating on shares of Orrstown Financial Services in a report on Wednesday, April 20th.

Orrstown Financial Services Stock Up 0.6 %

The firm has a market capitalization of $289.42 million, a PE ratio of 9.22 and a beta of 0.81. The firm’s 50-day moving average is $24.89 and its 200 day moving average is $24.20. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 0.85.

Orrstown Financial Services (NASDAQ:ORRFGet Rating) last released its quarterly earnings results on Tuesday, July 19th. The bank reported $0.83 EPS for the quarter, beating the consensus estimate of $0.67 by $0.16. Orrstown Financial Services had a net margin of 24.94% and a return on equity of 11.75%. The business had revenue of $31.31 million for the quarter, compared to analyst estimates of $29.24 million.

Orrstown Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 8th. Shareholders of record on Monday, August 1st will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Friday, July 29th. Orrstown Financial Services’s payout ratio is 26.76%.

Institutional Investors Weigh In On Orrstown Financial Services

Several hedge funds have recently modified their holdings of ORRF. RKL Wealth Management LLC boosted its holdings in shares of Orrstown Financial Services by 6.5% during the second quarter. RKL Wealth Management LLC now owns 9,821 shares of the bank’s stock worth $237,000 after purchasing an additional 602 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Orrstown Financial Services in the second quarter worth $107,000. Assenagon Asset Management S.A. increased its holdings in Orrstown Financial Services by 10.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 10,225 shares of the bank’s stock valued at $247,000 after purchasing an additional 1,000 shares in the last quarter. Amalgamated Bank purchased a new stake in shares of Orrstown Financial Services during the 1st quarter valued at about $30,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Orrstown Financial Services by 4.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 29,294 shares of the bank’s stock valued at $672,000 after purchasing an additional 1,261 shares during the period. 43.79% of the stock is owned by institutional investors and hedge funds.

Orrstown Financial Services Company Profile

(Get Rating)

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, construction, working capital, and other commercial purpose loans, as well as industrial loans; consumer loans comprising home equity and other consumer loans, as well as home equity lines of credit; residential mortgage loans; acquisition and development loans; municipal loans; and installment and other loans.

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