Orrstown Financial Services, Inc. (NASDAQ:ORRF) Director Sarah M. Brown Buys 300 Shares

Orrstown Financial Services, Inc. (NASDAQ:ORRF) Director Sarah M. Brown bought 300 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were bought at an average cost of $34.69 per share, for a total transaction of $10,407.00. Following the transaction, the director now owns 8,989 shares of the company’s stock, valued at $311,828.41. The trade was a 3.45 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Orrstown Financial Services Trading Down 0.5 %

Shares of Orrstown Financial Services stock opened at $34.51 on Friday. The firm has a market cap of $669.15 million, a PE ratio of 18.76 and a beta of 0.90. Orrstown Financial Services, Inc. has a 1 year low of $24.70 and a 1 year high of $41.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a fifty day moving average price of $36.74 and a 200-day moving average price of $36.27.

Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings data on Friday, January 31st. The bank reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.17). Orrstown Financial Services had a return on equity of 15.77% and a net margin of 7.70%. Equities research analysts anticipate that Orrstown Financial Services, Inc. will post 4.37 EPS for the current year.

Orrstown Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 14th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Orrstown Financial Services’s previous quarterly dividend of $0.23. Orrstown Financial Services’s payout ratio is 50.00%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. 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 report on Monday, February 3rd. Hovde Group cut shares of Orrstown Financial Services from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 13th. Finally, Piper Sandler started coverage on shares of Orrstown Financial Services in a research note on Wednesday, January 8th. They issued an “overweight” rating and a $43.00 price objective for the company.

Hedge Funds Weigh In On Orrstown Financial Services

Several institutional investors have recently bought and sold shares of the company. Comprehensive Financial Planning Inc. PA purchased a new stake in Orrstown Financial Services in the fourth quarter worth $38,000. R Squared Ltd purchased a new stake in Orrstown Financial Services in the 4th quarter worth about $42,000. CWM LLC increased its holdings in Orrstown Financial Services by 31.0% in the 3rd quarter. CWM LLC now owns 2,217 shares of the bank’s stock worth $80,000 after acquiring an additional 525 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in Orrstown Financial Services in the 4th quarter valued at about $92,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Orrstown Financial Services during the fourth quarter valued at about $123,000. Hedge funds and other 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.