Orrstown Financial Services (NASDAQ:ORRF) Hits New 1-Year High – Time to Buy?

Shares of Orrstown Financial Services Inc (NASDAQ:ORRF) reached a new 52-week high during trading on Thursday. The company traded as high as $43.95 and last traded at $43.7850, with a volume of 4,809 shares. The stock had previously closed at $42.89.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ORRF. DA Davidson reaffirmed a “neutral” rating and set a $41.00 price objective on shares of Orrstown Financial Services in a report on Wednesday, July 22nd. Raymond James Financial initiated coverage on Orrstown Financial Services in a research report on Thursday, July 9th. They set a “market perform” rating on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Orrstown Financial Services in a report on Friday, October 2nd. Keefe, Bruyette & Woods increased their price objective on Orrstown Financial Services from $44.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Finally, Hovde Group increased their price objective on Orrstown Financial Services from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Orrstown Financial Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.33.

Orrstown Financial Services Stock Up 3.3%

The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.87 and a current ratio of 0.87. The stock’s 50 day moving average price is $41.92 and its 200-day moving average price is $40.12. The company has a market cap of $871.77 million, a PE ratio of 9.87 and a beta of 0.69.

Orrstown Financial Services (NASDAQ:ORRF) last issued its earnings results on Tuesday, October 20th. The bank reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.07. The company had revenue of $66.70 million for the quarter, compared to analysts’ expectations of $66.20 million. Orrstown Financial Services had a net margin of 24.23% and a return on equity of 14.41%. On average, analysts predict that Orrstown Financial Services Inc will post 4.41 earnings per share for the current year.

Orrstown Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Stockholders of record on Tuesday, November 3rd will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, November 3rd. Orrstown Financial Services’s dividend payout ratio (DPR) is 26.73%.

Insider Activity at Orrstown Financial Services

In other news, EVP Amy Doll sold 3,002 shares of Orrstown Financial Services stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $41.61, for a total value of $124,913.22. Following the transaction, the executive vice president owned 25,669 shares in the company, valued at approximately $1,068,087.09. The trade was a 10.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Orrstown Financial Services

Institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC grew its position in Orrstown Financial Services by 186.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,938 shares of the bank’s stock worth $160,000 after acquiring an additional 2,561 shares during the last quarter. Arizona State Retirement System bought a new stake in Orrstown Financial Services in the second quarter valued at approximately $210,000. Royal Bank of Canada lifted its position in Orrstown Financial Services by 33.2% in the first quarter. Royal Bank of Canada now owns 6,612 shares of the bank’s stock valued at $239,000 after purchasing an additional 1,649 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Orrstown Financial Services during the second quarter valued at approximately $276,000. Finally, Focus Partners Advisor Solutions LLC purchased a new stake in shares of Orrstown Financial Services during the second quarter valued at approximately $284,000. 44.27% of the stock is currently 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 full-service community banking institution headquartered in Shippensburg, Pennsylvania. Founded in 1919, the company serves individuals, families, businesses and organizations through a network of banking offices in Pennsylvania and Maryland.

Orrstown Bank offers a range of personal and business banking products, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial real estate loans and business financing.