Orrstown Financial Services, Inc. (NASDAQ:ORRF) Director Purchases 3,000 Shares

Orrstown Financial Services, Inc. (NASDAQ:ORRF) Director Scott V. Fainor purchased 3,000 shares of the business’s stock in a transaction on Monday, March 24th. The shares were acquired at an average price of $31.17 per share, for a total transaction of $93,510.00. Following the completion of the acquisition, the director now directly owns 13,396 shares in the company, valued at approximately $417,553.32. This represents a 28.86 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Orrstown Financial Services Stock Down 1.0 %

Shares of NASDAQ:ORRF traded down $0.30 during trading on Wednesday, reaching $30.55. 106,173 shares of the stock were exchanged, compared to its average volume of 102,449. Orrstown Financial Services, Inc. has a 1-year low of $24.70 and a 1-year high of $41.99. The stock has a fifty day moving average of $33.43 and a two-hundred day moving average of $35.90. 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 firm has a market cap of $592.24 million, a price-to-earnings ratio of 16.60 and a beta of 0.87.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings data on Friday, January 31st. The bank reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.17). Orrstown Financial Services had a net margin of 7.70% and a return on equity of 15.77%. Research analysts anticipate 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 announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 14th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date was Friday, February 14th. This is a positive change from Orrstown Financial Services’s previous quarterly dividend of $0.23. Orrstown Financial Services’s dividend payout ratio (DPR) is currently 56.52%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $42.00 target price (down from $46.00) on shares of Orrstown Financial Services in a research note on Monday, February 3rd. Piper Sandler assumed coverage on shares of Orrstown Financial Services in a research report on Wednesday, January 8th. They set an “overweight” rating and a $43.00 price objective on the stock.

Institutional Investors Weigh In On Orrstown Financial Services

Institutional investors have recently bought and sold shares of the stock. Barclays PLC boosted its holdings in Orrstown Financial Services by 120.4% during the 3rd quarter. Barclays PLC now owns 33,721 shares of the bank’s stock worth $1,212,000 after acquiring an additional 18,422 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of 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 valued at $1,596,000 after purchasing an additional 23,333 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of 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 valued at $5,683,000 after purchasing an additional 131,845 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Orrstown Financial Services by 32.2% during the third quarter. Geode Capital Management LLC now owns 434,228 shares of the bank’s stock worth $15,617,000 after purchasing an additional 105,735 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Orrstown Financial Services by 36.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 55,297 shares of the bank’s stock worth $2,024,000 after purchasing an additional 14,894 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.