Orrstown Financial Services, Inc. (NASDAQ:ORRF) Director Buys $93,510.00 in Stock

Orrstown Financial Services, Inc. (NASDAQ:ORRF) Director Scott V. Fainor bought 3,000 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was bought at an average cost of $31.17 per share, with a total value of $93,510.00. Following the acquisition, the director now directly owns 13,396 shares of the company’s stock, valued at approximately $417,553.32. The trade was a 28.86 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Orrstown Financial Services Trading Down 1.0 %

NASDAQ ORRF traded down $0.30 on Wednesday, hitting $30.55. The company’s stock had a trading volume of 106,173 shares, compared to its average volume of 102,449. The company’s 50-day moving average is $33.43 and its 200 day moving average is $35.90. The firm has a market cap of $592.24 million, a PE ratio of 16.60 and a beta of 0.87. Orrstown Financial Services, Inc. has a 1-year low of $24.70 and a 1-year high of $41.99. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.13.

Orrstown Financial Services (NASDAQ:ORRF) last announced its earnings results on Friday, January 31st. The bank reported $0.87 earnings per share (EPS) 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, analysts predict that Orrstown Financial Services, Inc. will post 4.23 earnings per share for the current fiscal year.

Orrstown Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 14th were paid a $0.26 dividend. This is a positive change from Orrstown Financial Services’s previous quarterly dividend of $0.23. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend was Friday, February 14th. Orrstown Financial Services’s payout ratio is currently 56.52%.

Institutional Trading of Orrstown Financial Services

Several institutional investors have recently added to or reduced their stakes in ORRF. Comprehensive Financial Planning Inc. PA bought a new position in Orrstown Financial Services during the 4th quarter worth approximately $38,000. R Squared Ltd acquired a new position in Orrstown Financial Services in the fourth quarter valued at $42,000. VSM Wealth Advisory LLC acquired a new position in Orrstown Financial Services in the fourth quarter valued at $47,000. Summit Investment Advisors Inc. boosted its position in Orrstown Financial Services by 21.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,942 shares of the bank’s stock valued at $71,000 after acquiring an additional 349 shares during the last quarter. Finally, Stonebridge Financial Group LLC acquired a new stake in Orrstown Financial Services during the 4th quarter worth about $92,000. 44.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ORRF shares. Keefe, Bruyette & Woods reiterated 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 Orrstown Financial Services in a report on Wednesday, January 8th. They issued an “overweight” rating and a $43.00 target price for the company.

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.