Orrstown Financial Services (NASDAQ:ORRF) Director Buys $14,701.26 in Stock

Orrstown Financial Services Inc (NASDAQ:ORRF) Director Sarah Brown acquired 406 shares of the stock in a transaction dated Monday, February 2nd. The stock was bought at an average price of $36.21 per share, for a total transaction of $14,701.26. Following the completion of the purchase, the director owned 9,866 shares in the company, valued at approximately $357,247.86. This trade represents a 4.29% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Orrstown Financial Services Price Performance

Shares of Orrstown Financial Services stock traded up $0.88 during trading on Wednesday, reaching $38.95. 70,952 shares of the company’s stock were exchanged, compared to its average volume of 298,249. The company has a market cap of $759.43 million, a P/E ratio of 9.31 and a beta of 0.83. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.87 and a current ratio of 0.87. Orrstown Financial Services Inc has a 1-year low of $25.57 and a 1-year high of $39.03. The firm’s 50-day moving average price is $36.44 and its 200 day moving average price is $34.86.

Orrstown Financial Services (NASDAQ:ORRF) last released its earnings results on Tuesday, January 27th. The bank reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.03. The company had revenue of $64.92 million for the quarter, compared to analysts’ expectations of $51.54 million. Orrstown Financial Services had a return on equity of 15.04% and a net margin of 22.71%. As a group, research analysts anticipate that Orrstown Financial Services Inc will post 4.23 earnings per share for the current year.

Orrstown Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Tuesday, February 10th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, February 10th. This is a positive change from Orrstown Financial Services’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 3.1%. Orrstown Financial Services’s dividend payout ratio (DPR) is presently 25.84%.

Hedge Funds Weigh In On Orrstown Financial Services

Large investors have recently bought and sold shares of the business. Inspire Advisors LLC lifted its position in Orrstown Financial Services by 1.0% during the 3rd quarter. Inspire Advisors LLC now owns 32,308 shares of the bank’s stock worth $1,098,000 after acquiring an additional 308 shares during the period. SG Americas Securities LLC boosted its position in shares of Orrstown Financial Services by 5.3% in the fourth quarter. SG Americas Securities LLC now owns 8,797 shares of the bank’s stock worth $312,000 after acquiring an additional 440 shares during the last quarter. Vista Investment Management lifted its stake in shares of Orrstown Financial Services by 5.6% in the 2nd quarter. Vista Investment Management now owns 8,444 shares of the bank’s stock valued at $269,000 after purchasing an additional 450 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Orrstown Financial Services by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,009 shares of the bank’s stock worth $330,000 after purchasing an additional 490 shares in the last quarter. Finally, CWM LLC increased its stake in Orrstown Financial Services by 36.9% during the 2nd quarter. CWM LLC now owns 2,417 shares of the bank’s stock worth $77,000 after buying an additional 651 shares during the period. Hedge funds and other institutional investors own 44.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ORRF. Hovde Group raised their price objective on shares of Orrstown Financial Services from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday. Weiss Ratings restated a “hold (c+)” rating on shares of Orrstown Financial Services in a research report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $39.67.

About Orrstown Financial Services

Orrstown Financial Services, Inc is the bank holding company for Orrstown Bank, a community banking organization headquartered in Shippensburg, Pennsylvania. The roots of Orrstown Bank date back to 1865, and the holding company structure was established to support its growth and diversification. As a regional financial institution, Orrstown Financial Services focuses on delivering personalized banking solutions to individuals, families and businesses across Central Pennsylvania.

The company’s core offerings include a full suite of deposit products such as checking and savings accounts, money market accounts and certificates of deposit.