Insider Buying: Orrstown Financial Services, Inc. (NASDAQ:ORRF) Director Buys 2,500 Shares of Stock

Orrstown Financial Services, Inc. (NASDAQ:ORRF) Director Brian D. Brunner acquired 2,500 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were bought at an average cost of $30.87 per share, with a total value of $77,175.00. Following the completion of the acquisition, the director now owns 49,330 shares in the company, valued at approximately $1,522,817.10. This represents a 5.34 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Orrstown Financial Services Trading Down 1.1 %

ORRF traded down $0.33 during trading on Friday, reaching $30.50. The company had a trading volume of 465,889 shares, compared to its average volume of 101,515. The stock has a market cap of $591.27 million, a P/E ratio of 16.58 and a beta of 0.87. The business has a 50 day simple moving average of $33.68 and a 200-day simple moving average of $35.98. Orrstown Financial Services, Inc. has a 52 week low of $24.70 and a 52 week high of $41.99. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.13.

Orrstown Financial Services (NASDAQ:ORRF) last released its earnings results on Friday, January 31st. The bank reported $0.87 earnings per share for the quarter, missing the consensus estimate 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 analysts anticipate that Orrstown Financial Services, Inc. will post 4.23 EPS for the current fiscal 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 represents a $1.04 annualized dividend and a dividend yield of 3.41%. This is an increase 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 56.52%.

Analyst Ratings Changes

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

Institutional Trading of Orrstown Financial Services

Several institutional investors and hedge funds have recently made changes to their positions in the business. PL Capital Advisors LLC increased its stake in shares of Orrstown Financial Services by 3,561.0% during the fourth quarter. PL Capital Advisors LLC now owns 2,356,073 shares of the bank’s stock valued at $86,256,000 after buying an additional 2,291,717 shares during the period. Fourthstone LLC increased its stake in shares of Orrstown Financial Services by 223.8% during the third quarter. Fourthstone LLC now owns 1,811,825 shares of the bank’s stock valued at $65,153,000 after buying an additional 1,252,356 shares during the period. The Manufacturers Life Insurance Company purchased a new position in shares of Orrstown Financial Services during the third quarter valued at $8,734,000. Petiole USA ltd purchased a new position in shares of Orrstown Financial Services during the third quarter valued at $6,543,000. Finally, Millennium Management LLC purchased a new position in shares of Orrstown Financial Services during the fourth quarter valued at $5,404,000. 44.27% of the stock is currently owned by institutional investors.

Orrstown Financial Services Company Profile

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.