Orrstown Financial Services (NASDAQ:ORRF) Hits New 12-Month High – Should You Buy?

Orrstown Financial Services Inc (NASDAQ:ORRF)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $40.72 and last traded at $39.29, with a volume of 129442 shares changing hands. The stock had previously closed at $39.48.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ORRF shares. Hovde Group raised their price target on shares of Orrstown Financial Services from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Orrstown Financial Services in a report on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.67.

Orrstown Financial Services Trading Down 0.5%

The business’s 50 day moving average price is $36.70 and its two-hundred day moving average price is $34.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $766.16 million, a price-to-earnings ratio of 9.40 and a beta of 0.83.

Orrstown Financial Services (NASDAQ:ORRF) last announced its earnings results on Tuesday, January 27th. The bank reported $1.11 EPS for the quarter, topping the consensus estimate of $1.08 by $0.03. The firm had revenue of $64.92 million for the quarter, compared to analysts’ expectations of $51.54 million. Orrstown Financial Services had a return on equity of 15.04% and a net margin of 22.71%. Equities analysts forecast that Orrstown Financial Services Inc will post 4.23 earnings per share for the current fiscal year.

Orrstown Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Tuesday, February 10th will be paid a dividend of $0.30 per share. This is an increase from Orrstown Financial Services’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, February 10th. Orrstown Financial Services’s dividend payout ratio (DPR) is 25.84%.

Institutional Investors Weigh In On Orrstown Financial Services

Several hedge funds and other institutional investors have recently bought and sold shares of ORRF. Caldwell Trust Co bought a new position in shares of Orrstown Financial Services during the 2nd quarter valued at about $25,000. State of Alaska Department of Revenue acquired a new stake in Orrstown Financial Services during the third quarter valued at approximately $26,000. Financial Consulate Inc. acquired a new stake in Orrstown Financial Services during the third quarter valued at approximately $36,000. Quarry LP bought a new stake in Orrstown Financial Services during the third quarter worth approximately $42,000. Finally, Raymond James Financial Inc. acquired a new position in Orrstown Financial Services in the second quarter worth approximately $45,000. 44.27% of the stock is currently owned by institutional investors.

Orrstown Financial Services Company Profile

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.