Orrstown Financial Services (NASDAQ:ORRF) Sees Unusually-High Trading Volume - Time to Buy?

Orrstown Financial Services, Inc. (NASDAQ:ORRF - Get Free Report) saw an uptick in trading volume on Wednesday . 98,717 shares were traded during trading, a decline of 17% from the previous session's volume of 118,637 shares.The stock last traded at $33.52 and had previously closed at $33.40.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $42.00 price target (down previously from $46.00) on shares of Orrstown Financial Services in a research note on Monday, February 3rd. Piper Sandler assumed coverage on shares of Orrstown Financial Services in a research report on Wednesday, January 8th. They set an "overweight" rating and a $43.00 target price for the company. Finally, Hovde Group lowered shares of Orrstown Financial Services from an "outperform" rating to a "market perform" rating in a research report on Wednesday, November 13th.

Orrstown Financial Services Stock Performance

The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $640.84 million, a PE ratio of 17.96 and a beta of 0.90. The company has a 50-day moving average price of $35.65 and a two-hundred day moving average price of $36.27.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last issued its earnings results on Friday, January 31st. The bank reported $0.87 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.17). Orrstown Financial Services had a return on equity of 15.77% and a net margin of 7.70%. Analysts predict that Orrstown Financial Services, Inc. will post 4.23 EPS for the current fiscal year.

Orrstown Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 14th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Friday, February 14th. This is a positive change from Orrstown Financial Services's previous quarterly dividend of $0.23. Orrstown Financial Services's dividend payout ratio is 56.52%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. CWM LLC increased its holdings in shares of 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 period. Beese Fulmer Investment Management Inc. bought a new position in Orrstown Financial Services in the 3rd quarter worth about $242,000. Assenagon Asset Management S.A. raised its holdings in shares of Orrstown Financial Services by 112.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 40,403 shares of the bank's stock valued at $1,453,000 after acquiring an additional 21,373 shares in the last quarter. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Orrstown Financial Services in the 3rd quarter valued at about $2,592,000. Finally, PL Capital Advisors LLC bought a new stake in shares of Orrstown Financial Services during the 3rd quarter valued at about $2,314,000. 44.27% of the stock is owned by institutional investors.

Orrstown Financial Services Company Profile

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.