Orrstown Financial Services (NASDAQ:ORRF) Sets New 52-Week High at $36.65

Orrstown Financial Services, Inc. (NASDAQ:ORRF)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $36.65 and last traded at $36.29, with a volume of 12783 shares traded. The stock had previously closed at $35.42.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $32.00 target price on shares of Orrstown Financial Services in a research report on Tuesday, June 18th. Janney Montgomery Scott assumed coverage on shares of Orrstown Financial Services in a research report on Friday, June 28th. They set a “buy” rating and a $32.00 target price for the company. Finally, Hovde Group increased their target price on shares of Orrstown Financial Services from $33.00 to $37.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th.

Orrstown Financial Services Trading Down 2.4 %

The business’s fifty day simple moving average is $33.86 and its 200 day simple moving average is $28.86. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12. The stock has a market cap of $381.13 million, a P/E ratio of 10.61 and a beta of 0.90.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.10. Orrstown Financial Services had a net margin of 17.26% and a return on equity of 13.45%. The firm had revenue of $50.45 million for the quarter, compared to analyst estimates of $31.60 million. As a group, analysts expect that Orrstown Financial Services, Inc. will post 3.61 EPS for the current year.

Orrstown Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 8th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend was Thursday, August 8th. This is a positive change from Orrstown Financial Services’s previous quarterly dividend of $0.20. Orrstown Financial Services’s dividend payout ratio (DPR) is 27.46%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. EntryPoint Capital LLC bought a new position in Orrstown Financial Services during the 1st quarter worth approximately $31,000. CWM LLC grew its holdings in Orrstown Financial Services by 227.9% during the second quarter. CWM LLC now owns 1,692 shares of the bank’s stock valued at $46,000 after purchasing an additional 1,176 shares during the period. Empowered Funds LLC grew its holdings in Orrstown Financial Services by 7.7% during the first quarter. Empowered Funds LLC now owns 22,092 shares of the bank’s stock valued at $591,000 after purchasing an additional 1,575 shares during the period. BNP Paribas Financial Markets grew its holdings in Orrstown Financial Services by 92.9% during the first quarter. BNP Paribas Financial Markets now owns 5,227 shares of the bank’s stock valued at $140,000 after purchasing an additional 2,518 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Orrstown Financial Services by 1.0% during the first quarter. Vanguard Group Inc. now owns 547,755 shares of the bank’s stock valued at $14,663,000 after purchasing an additional 5,332 shares during the period. Institutional investors own 44.27% of the company’s stock.

About Orrstown Financial Services

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.