David Todd Hornberger Sells 4,000 Shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) Stock

Orrstown Financial Services, Inc. (NASDAQ:ORRF) EVP David Todd Hornberger sold 4,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 20,877 shares of the company’s stock, valued at approximately $789,568.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Orrstown Financial Services Trading Down 1.1 %

Shares of ORRF stock traded down $0.40 during trading hours on Thursday, reaching $37.44. The company had a trading volume of 98,109 shares, compared to its average volume of 76,775. The company has a 50 day moving average of $35.76 and a 200 day moving average of $30.86. 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 cap of $725.21 million, a price-to-earnings ratio of 20.32 and a beta of 0.90. Orrstown Financial Services, Inc. has a 1-year low of $20.73 and a 1-year high of $38.81.

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

Orrstown Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Tuesday, November 5th. Orrstown Financial Services’s payout ratio is 49.46%.

Institutional Investors Weigh In On Orrstown Financial Services

Institutional investors have recently made changes to their positions in the stock. CWM LLC lifted its stake in Orrstown Financial Services by 31.0% during the third quarter. CWM LLC now owns 2,217 shares of the bank’s stock worth $80,000 after purchasing an additional 525 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Orrstown Financial Services during the first quarter worth $31,000. Empowered Funds LLC increased its holdings in shares of Orrstown Financial Services by 7.7% during the first quarter. Empowered Funds LLC now owns 22,092 shares of the bank’s stock worth $591,000 after buying an additional 1,575 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Orrstown Financial Services by 92.9% in the first quarter. BNP Paribas Financial Markets now owns 5,227 shares of the bank’s stock valued at $140,000 after purchasing an additional 2,518 shares during the period. Finally, SG Americas Securities LLC increased its holdings in Orrstown Financial Services by 65.3% in the third quarter. SG Americas Securities LLC now owns 9,318 shares of the bank’s stock valued at $335,000 after purchasing an additional 3,682 shares during the period. 44.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Hovde Group upped their price target on Orrstown Financial Services from $37.00 to $42.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd.

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.