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

Orrstown Financial Services, Inc. (NASDAQ:ORRF) Director Scott V. Fainor acquired 3,000 shares of the company’s stock in a transaction on Monday, March 24th. The shares were bought at an average price of $31.17 per share, with a total value of $93,510.00. Following the completion of the purchase, the director now directly owns 13,396 shares of the company’s stock, valued at approximately $417,553.32. This represents a 28.86 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Orrstown Financial Services Stock Performance

Shares of NASDAQ:ORRF opened at $30.00 on Friday. The business has a fifty day moving average of $33.20 and a 200-day moving average of $35.83. The firm has a market cap of $581.58 million, a PE ratio of 16.30 and a beta of 0.87. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 0.88. Orrstown Financial Services, Inc. has a twelve month low of $24.70 and a twelve month high of $41.99.

Orrstown Financial Services (NASDAQ:ORRF) last announced its earnings results 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%. On average, equities research analysts predict that Orrstown Financial Services, Inc. will post 4.23 EPS for the current fiscal year.

Orrstown Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.47%. This is a positive change from Orrstown Financial Services’s previous quarterly dividend of $0.23. The ex-dividend date was Friday, February 14th. Orrstown Financial Services’s dividend payout ratio (DPR) is presently 56.52%.

Institutional Investors Weigh In On Orrstown Financial Services

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ORRF. Piper Sandler started coverage on shares of Orrstown Financial Services in a research report on Wednesday, January 8th. They set an “overweight” rating and a $43.00 target price for the company. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $42.00 price objective (down previously from $46.00) on shares of Orrstown Financial Services in a report on Monday, February 3rd.

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.