Sarah M. Brown Acquires 300 Shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) Stock

Orrstown Financial Services, Inc. (NASDAQ:ORRF) Director Sarah M. Brown acquired 300 shares of Orrstown Financial Services stock in a transaction on Tuesday, February 4th. The shares were bought at an average price of $34.69 per share, for a total transaction of $10,407.00. Following the completion of the purchase, the director now directly owns 8,989 shares in the company, valued at $311,828.41. The trade was a 3.45 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Orrstown Financial Services Stock Performance

Shares of ORRF stock traded up $0.37 during trading hours on Thursday, reaching $34.67. The stock had a trading volume of 114,509 shares, compared to its average volume of 114,396. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.88 and a quick ratio of 0.88. Orrstown Financial Services, Inc. has a twelve month low of $24.70 and a twelve month high of $41.99. The firm has a 50-day simple moving average of $36.84 and a 200-day simple moving average of $36.28. The firm has a market capitalization of $672.25 million, a PE ratio of 18.84 and a beta of 0.90.

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 return on equity of 15.77% and a net margin of 7.70%. As a group, equities analysts forecast that Orrstown Financial Services, Inc. will post 4.37 earnings per share for the current year.

Orrstown Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 14th will be paid a dividend of $0.26 per share. This is a boost from Orrstown Financial Services’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, February 14th. This represents a $1.04 annualized dividend and a yield of 3.00%. Orrstown Financial Services’s dividend payout ratio (DPR) is presently 50.00%.

Hedge Funds Weigh In On Orrstown Financial Services

Large investors have recently made changes to their positions in the business. Comprehensive Financial Planning Inc. PA bought a new position in shares of Orrstown Financial Services during the 4th quarter valued at about $38,000. R Squared Ltd bought a new position in shares of Orrstown Financial Services during the 4th quarter valued at about $42,000. CWM LLC boosted its position in shares of Orrstown Financial Services by 31.0% during the 3rd quarter. CWM LLC now owns 2,217 shares of the bank’s stock valued at $80,000 after purchasing an additional 525 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in shares of Orrstown Financial Services during the 4th quarter valued at about $92,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Orrstown Financial Services during the 4th quarter valued at about $123,000. Institutional investors own 44.27% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Piper Sandler assumed coverage on shares of Orrstown Financial Services in a research report on Wednesday, January 8th. They issued an “overweight” rating and a $43.00 price target on the stock. Hovde Group downgraded shares of Orrstown Financial Services from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 13th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $42.00 price target (down from $46.00) on shares of Orrstown Financial Services in a research report on Monday.

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.