John W. Giambalvo Buys 1,000 Shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) Stock

Orrstown Financial Services, Inc. (NASDAQ:ORRF) Director John W. Giambalvo acquired 1,000 shares of Orrstown Financial Services stock in a transaction on Monday, March 10th. The shares were bought at an average cost of $30.80 per share, with a total value of $30,800.00. Following the completion of the transaction, the director now owns 40,562 shares of the company’s stock, valued at approximately $1,249,309.60. This trade represents a 2.53 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Orrstown Financial Services Trading Up 1.3 %

Shares of Orrstown Financial Services stock opened at $30.75 on Friday. The firm has a 50-day moving average of $34.11 and a 200-day moving average of $36.16. The stock has a market cap of $596.12 million, a PE ratio of 16.71 and a beta of 0.87. Orrstown Financial Services, Inc. has a 52-week low of $24.70 and a 52-week high of $41.99. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 0.88.

Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings data on Friday, January 31st. The bank reported $0.87 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.17). Orrstown Financial Services had a return on equity of 15.77% and a net margin of 7.70%. As a group, sell-side analysts forecast that Orrstown Financial Services, Inc. will post 4.23 EPS for the current year.

Orrstown Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 14th were given a dividend of $0.26 per share. This is a boost from Orrstown Financial Services’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.04 annualized dividend and a yield of 3.38%. Orrstown Financial Services’s dividend payout ratio is currently 56.52%.

Wall Street Analyst Weigh In

ORRF has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $42.00 price objective (down from $46.00) on shares of Orrstown Financial Services in a research report on Monday, February 3rd. Piper Sandler started coverage on shares of Orrstown Financial Services in a research report on Wednesday, January 8th. They issued an “overweight” rating and a $43.00 target price for the company.

Institutional Investors Weigh In On Orrstown Financial Services

Institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC lifted its position in Orrstown Financial Services by 120.4% during the third quarter. Barclays PLC now owns 33,721 shares of the bank’s stock worth $1,212,000 after purchasing an additional 18,422 shares during the period. Empowered Funds LLC raised its stake in Orrstown Financial Services by 206.0% during the third quarter. Empowered Funds LLC now owns 72,563 shares of the bank’s stock worth $2,609,000 after acquiring an additional 48,851 shares in the last quarter. Principal Financial Group Inc. acquired a new position in Orrstown Financial Services during the third quarter worth about $478,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Orrstown Financial Services by 110.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,387 shares of the bank’s stock worth $1,596,000 after acquiring an additional 23,333 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Orrstown Financial Services by 503.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 158,029 shares of the bank’s stock worth $5,683,000 after acquiring an additional 131,845 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.