Orrstown Financial Services (NASDAQ:ORRF) Sets New 52-Week High – Should You Buy?

Orrstown Financial Services Inc (NASDAQ:ORRF)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $40.79 and last traded at $40.6650, with a volume of 182192 shares changing hands. The stock had previously closed at $39.75.

Analyst Ratings Changes

Separately, DA Davidson assumed coverage on Orrstown Financial Services in a research note on Friday, May 15th. They set 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 given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $41.67.

Orrstown Financial Services Stock Down 0.6%

The stock has a 50-day moving average of $37.55 and a 200 day moving average of $36.87. The company has a market capitalization of $795.90 million, a PE ratio of 9.30 and a beta of 0.70. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.06.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.08. The firm had revenue of $64.58 million during the quarter, compared to the consensus estimate of $63.20 million. Orrstown Financial Services had a return on equity of 14.75% and a net margin of 23.58%. Sell-side analysts anticipate that Orrstown Financial Services Inc will post 4.3 EPS for the current year.

Orrstown Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Tuesday, May 5th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, May 5th. Orrstown Financial Services’s dividend payout ratio is currently 27.46%.

Institutional Trading of Orrstown Financial Services

A number of large investors have recently bought and sold shares of the company. Bank of America Corp DE lifted its holdings in Orrstown Financial Services by 24.2% during the first quarter. Bank of America Corp DE now owns 139,990 shares of the bank’s stock valued at $5,051,000 after purchasing an additional 27,301 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Orrstown Financial Services by 33.2% during the 1st quarter. Royal Bank of Canada now owns 6,612 shares of the bank’s stock valued at $239,000 after buying an additional 1,649 shares in the last quarter. Quantinno Capital Management LP lifted its stake in shares of Orrstown Financial Services by 75.9% during the 1st quarter. Quantinno Capital Management LP now owns 27,365 shares of the bank’s stock valued at $987,000 after buying an additional 11,808 shares in the last quarter. Entropy Technologies LP bought a new position in Orrstown Financial Services in the 1st quarter worth approximately $342,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Orrstown Financial Services by 62.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 13,143 shares of the bank’s stock worth $474,000 after buying an additional 5,041 shares during the period. 44.27% of the stock is owned by hedge funds and other institutional investors.

About Orrstown Financial Services

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.