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

Orrstown Financial Services, Inc. (NASDAQ:ORRF)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $40.44 and last traded at $40.44, with a volume of 6775 shares trading hands. The stock had previously closed at $37.25.

Wall Street Analysts Forecast Growth

Separately, Hovde Group boosted their price objective on shares of Orrstown Financial Services from $37.00 to $42.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd.

Orrstown Financial Services Stock Down 2.8 %

The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market capitalization of $772.48 million, a P/E ratio of 21.44 and a beta of 0.89. The business has a 50 day moving average price of $36.12 and a 200 day moving average price of $31.37.

Orrstown Financial Services (NASDAQ:ORRF) last released its earnings results on Tuesday, October 22nd. The bank reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.19. Orrstown Financial Services had a return on equity of 17.66% and a net margin of 6.63%. The firm had revenue of $95.37 million for the quarter, compared to analyst estimates of $60.90 million. On average, analysts predict that Orrstown Financial Services, Inc. will post 4 earnings per share for the current year.

Orrstown Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, November 5th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Tuesday, November 5th. Orrstown Financial Services’s dividend payout ratio (DPR) is currently 49.46%.

Insider Activity at Orrstown Financial Services

In other Orrstown Financial Services news, EVP David Todd Hornberger sold 4,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $37.82, for a total value of $151,280.00. Following the sale, the executive vice president now directly owns 20,877 shares in the company, valued at $789,568.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 6.20% of the company’s stock.

Institutional Trading of Orrstown Financial Services

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Orrstown Financial Services by 1.0% in 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 in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Orrstown Financial Services by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 499,814 shares of the bank’s stock valued at $13,674,000 after buying an additional 7,465 shares in the last quarter. Pacific Ridge Capital Partners LLC raised its stake in shares of Orrstown Financial Services by 3.9% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 228,449 shares of the bank’s stock valued at $6,116,000 after buying an additional 8,564 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Orrstown Financial Services by 42.2% during the 2nd quarter. Renaissance Technologies LLC now owns 223,399 shares of the bank’s stock worth $6,112,000 after acquiring an additional 66,300 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Orrstown Financial Services by 37.9% during the 2nd quarter. American Century Companies Inc. now owns 149,259 shares of the bank’s stock valued at $4,084,000 after acquiring an additional 41,016 shares in the last quarter. 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.