Brian D. Brunner Buys 2,500 Shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) Stock

Orrstown Financial Services, Inc. (NASDAQ:ORRF) Director Brian D. Brunner bought 2,500 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was bought at an average price of $30.87 per share, for a total transaction of $77,175.00. Following the purchase, the director now directly owns 49,330 shares of the company’s stock, valued at $1,522,817.10. The trade was a 5.34 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Orrstown Financial Services Stock Performance

NASDAQ:ORRF traded down $0.33 during trading hours on Friday, reaching $30.50. The company had a trading volume of 465,889 shares, compared to its average volume of 101,515. Orrstown Financial Services, Inc. has a 1-year low of $24.70 and a 1-year high of $41.99. The firm has a market cap of $591.27 million, a PE ratio of 16.58 and a beta of 0.87. The business’s 50 day moving average price is $33.68 and its 200-day moving average price is $35.98. 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 (NASDAQ:ORRF) last announced its earnings results on Friday, January 31st. The bank reported $0.87 earnings per share (EPS) 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 forecast that Orrstown Financial Services, Inc. will post 4.23 EPS for the current year.

Orrstown Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 14th were given a dividend of $0.26 per share. This is a positive change from Orrstown Financial Services’s previous quarterly dividend of $0.23. The ex-dividend date was Friday, February 14th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.41%. Orrstown Financial Services’s dividend payout ratio (DPR) is 56.52%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC raised its stake in Orrstown Financial Services by 120.4% in the 3rd quarter. Barclays PLC now owns 33,721 shares of the bank’s stock valued at $1,212,000 after purchasing an additional 18,422 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Orrstown Financial Services in the 3rd quarter worth $478,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Orrstown Financial Services by 110.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,387 shares of the bank’s stock worth $1,596,000 after acquiring an additional 23,333 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Orrstown Financial Services by 503.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 158,029 shares of the bank’s stock worth $5,683,000 after acquiring an additional 131,845 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Orrstown Financial Services by 32.2% in the 3rd quarter. Geode Capital Management LLC now owns 434,228 shares of the bank’s stock worth $15,617,000 after acquiring an additional 105,735 shares during the last quarter. Hedge funds and other institutional investors own 44.27% of the company’s stock.

Wall Street Analysts Forecast Growth

ORRF has been the topic of several analyst reports. Piper Sandler initiated coverage on Orrstown Financial Services in a research note on Wednesday, January 8th. They issued an “overweight” rating and a $43.00 target price on the stock. Keefe, Bruyette & Woods restated an “outperform” rating and set a $42.00 price target (down previously from $46.00) on shares of Orrstown Financial Services in a research note 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.