Orrstown Financial Services, Inc. (NASDAQ:ORRF - Get Free Report) 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 Upgrades and Downgrades
A number of analysts have recently issued reports on ORRF shares. Piper Sandler started coverage on shares of Orrstown Financial Services in a report on Wednesday, January 8th. They set an "overweight" rating and a $43.00 price target on the stock. Hovde Group downgraded shares of Orrstown Financial Services from an "outperform" rating to a "market perform" rating in a report on Wednesday, November 13th. Finally, Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $42.00 price target (down previously from $46.00) on shares of Orrstown Financial Services in a report on Monday.
Check Out Our Latest Report on ORRF
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 cap of $671.67 million, a PE ratio of 18.83 and a beta of 0.90. The business's fifty day moving average is $37.17 and its 200-day moving average is $36.24.
Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The bank reported $0.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.04 by ($0.17). Orrstown Financial Services had a return on equity of 15.77% and a net margin of 7.70%. As a group, research analysts predict that Orrstown Financial Services, Inc. will post 4.37 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. Shareholders of record on Friday, February 14th will be paid a dividend of $0.26 per share. This is a boost from Orrstown Financial Services's previous quarterly dividend of $0.23. The ex-dividend date is Friday, February 14th. This represents a $1.04 dividend on an annualized basis and a yield of 3.00%. Orrstown Financial Services's dividend payout ratio (DPR) is presently 50.00%.
Institutional Investors Weigh In On Orrstown Financial Services
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ORRF. Fourthstone LLC raised its stake in Orrstown Financial Services by 223.8% during the 3rd quarter. Fourthstone LLC now owns 1,811,825 shares of the bank's stock worth $65,153,000 after acquiring an additional 1,252,356 shares during the period. The Manufacturers Life Insurance Company bought a new stake in Orrstown Financial Services during the 3rd quarter worth approximately $8,734,000. Petiole USA ltd bought a new stake in Orrstown Financial Services during the 3rd quarter worth approximately $6,543,000. Charles Schwab Investment Management Inc. raised its stake in Orrstown Financial Services by 503.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 158,029 shares of the bank's stock worth $5,683,000 after acquiring an additional 131,845 shares during the period. Finally, Geode Capital Management LLC raised its stake in Orrstown Financial Services by 32.2% during the 3rd quarter. Geode Capital Management LLC now owns 434,228 shares of the bank's stock worth $15,617,000 after acquiring an additional 105,735 shares during the period. Institutional investors own 44.27% of the company's stock.
About Orrstown Financial Services
(
Get Free Report)
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.
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