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

Orrstown Financial Services, Inc. (NASDAQ:ORRF) Director Brian D. Brunner acquired 2,500 shares of the firm’s stock in a transaction dated 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 acquisition, the director now owns 49,330 shares of the company’s stock, valued at approximately $1,522,817.10. This trade represents a 5.34 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Orrstown Financial Services Trading Down 1.1 %

ORRF opened at $30.50 on Friday. Orrstown Financial Services, Inc. has a one year low of $24.70 and a one year high of $41.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.88 and a quick ratio of 0.88. The business has a 50 day simple moving average of $33.68 and a two-hundred day simple moving average of $35.98. The firm has a market capitalization of $591.27 million, a price-to-earnings ratio of 16.58 and a beta of 0.87.

Orrstown Financial Services (NASDAQ:ORRF) last announced its earnings results 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%. Analysts predict that Orrstown Financial Services, Inc. will post 4.23 EPS for the current year.

Orrstown Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 14th were paid 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 payout ratio is presently 56.52%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Orrstown Financial Services

A number of institutional investors have recently bought and sold shares of ORRF. Comprehensive Financial Planning Inc. PA bought a new stake in Orrstown Financial Services during the 4th quarter valued at approximately $38,000. R Squared Ltd bought a new stake in shares of Orrstown Financial Services during the fourth quarter valued at approximately $42,000. VSM Wealth Advisory LLC purchased a new stake in Orrstown Financial Services in the fourth quarter worth $47,000. Summit Investment Advisors Inc. raised its holdings in Orrstown Financial Services by 21.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,942 shares of the bank’s stock worth $71,000 after purchasing an additional 349 shares in the last quarter. Finally, Stonebridge Financial Group LLC purchased a new position in Orrstown Financial Services during the fourth quarter valued at $92,000. 44.27% of the stock is 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.