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

Orrstown Financial Services, Inc. (NASDAQ:ORRF)’s share price hit a new 52-week high during mid-day 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 target on Orrstown Financial Services from $37.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd.

Orrstown Financial Services Price Performance

The business has a 50-day simple moving average of $35.93 and a 200 day simple moving average of $31.24. The stock has a market cap of $796.11 million, a P/E ratio of 20.03 and a beta of 0.89. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings data on Tuesday, October 22nd. The bank reported $1.11 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $95.37 million during the quarter, compared to analyst estimates of $60.90 million. On average, analysts forecast that Orrstown Financial Services, Inc. will post 4 earnings per share for the current year.

Orrstown Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.92 annualized dividend and a yield of 2.24%. Orrstown Financial Services’s payout ratio is 49.46%.

Insider Transactions at Orrstown Financial Services

In other Orrstown Financial Services news, EVP David Todd Hornberger sold 4,000 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $37.82, for a total transaction of $151,280.00. Following the completion of the sale, the executive vice president now directly owns 20,877 shares in the company, valued at approximately $789,568.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC raised its position in Orrstown Financial Services by 139.3% in the 3rd quarter. Los Angeles Capital Management LLC now owns 66,750 shares of the bank’s stock worth $2,400,000 after purchasing an additional 38,859 shares during the period. RKL Wealth Management LLC grew its holdings in Orrstown Financial Services by 22.8% in the third quarter. RKL Wealth Management LLC now owns 12,286 shares of the bank’s stock worth $442,000 after purchasing an additional 2,281 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Orrstown Financial Services in the third quarter worth $478,000. Emerald Advisers LLC purchased a new position in Orrstown Financial Services in the third quarter worth $474,000. Finally, PL Capital Advisors LLC purchased a new stake in shares of Orrstown Financial Services during the third quarter valued at $2,314,000. Institutional investors own 44.27% of the company’s stock.

Orrstown Financial Services Company Profile

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.