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

Orrstown Financial Services, Inc. (NASDAQ:ORRF) Director Sarah M. Brown acquired 300 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were acquired at an average cost of $34.69 per share, with a total value of $10,407.00. Following the transaction, 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Orrstown Financial Services Price Performance

NASDAQ ORRF traded up $0.37 during trading hours on Thursday, reaching $34.67. 114,509 shares of the company’s stock were exchanged, compared to its average volume of 114,396. The stock has a market cap of $672.25 million, a PE ratio of 18.84 and a beta of 0.90. Orrstown Financial Services, Inc. has a one year low of $24.70 and a one year high of $41.99. The firm has a fifty day moving average of $36.84 and a 200-day moving average of $36.28. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings data on Friday, January 31st. The bank reported $0.87 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%. On average, equities research analysts predict that Orrstown Financial Services, Inc. will post 4.37 earnings per share for the current fiscal year.

Orrstown Financial Services Increases Dividend

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Piper Sandler assumed coverage on Orrstown Financial Services in a research 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 set a $42.00 price objective (down previously from $46.00) on shares of Orrstown Financial Services in a research report on Monday. Finally, Hovde Group cut Orrstown Financial Services from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 13th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ORRF. PL Capital Advisors LLC lifted its stake in shares of Orrstown Financial Services by 3,561.0% in the 4th quarter. PL Capital Advisors LLC now owns 2,356,073 shares of the bank’s stock valued at $86,256,000 after purchasing an additional 2,291,717 shares during the period. Fourthstone LLC raised its stake in shares of Orrstown Financial Services by 223.8% in the 3rd quarter. Fourthstone LLC now owns 1,811,825 shares of the bank’s stock valued at $65,153,000 after purchasing an additional 1,252,356 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in shares of Orrstown Financial Services in the 3rd quarter valued at about $8,734,000. Petiole USA ltd bought a new position in shares of Orrstown Financial Services in the 3rd quarter valued at about $6,543,000. Finally, Charles Schwab Investment Management Inc. grew its holdings 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 valued at $5,683,000 after acquiring an additional 131,845 shares in the last quarter. 44.27% of the stock is currently owned by institutional investors.

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.