Orrstown Financial Services, Inc. (NASDAQ:ORRF) Director Acquires $30,800.00 in Stock

Orrstown Financial Services, Inc. (NASDAQ:ORRF) Director John W. Giambalvo bought 1,000 shares of Orrstown Financial Services stock in a transaction that occurred on Monday, March 10th. The stock was purchased 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 $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 at this link.

Orrstown Financial Services Stock Performance

NASDAQ:ORRF opened at $30.35 on Friday. The stock has a market capitalization of $588.37 million, a P/E ratio of 16.49 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 firm has a 50 day moving average of $34.32 and a 200-day moving average of $36.23. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13.

Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings data on Friday, January 31st. The bank reported $0.87 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%. As a group, sell-side analysts anticipate that Orrstown Financial Services, Inc. will post 4.23 EPS 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. Shareholders of record on Friday, February 14th were issued a dividend of $0.26 per share. The ex-dividend date was Friday, February 14th. This represents a $1.04 dividend on an annualized basis and a yield of 3.43%. This is a positive change from Orrstown Financial Services’s previous quarterly dividend of $0.23. Orrstown Financial Services’s dividend payout ratio is currently 56.52%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Orrstown Financial Services

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