Scott V. Fainor Buys 3,000 Shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) Stock

Orrstown Financial Services, Inc. (NASDAQ:ORRF) Director Scott V. Fainor acquired 3,000 shares of the stock in a transaction dated Monday, March 24th. The shares were bought at an average cost of $31.17 per share, for a total transaction of $93,510.00. Following the completion of the transaction, the director now owns 13,396 shares in the company, valued at approximately $417,553.32. This represents a 28.86 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Orrstown Financial Services Stock Down 0.1 %

NASDAQ ORRF opened at $30.51 on Friday. Orrstown Financial Services, Inc. has a 12 month low of $24.70 and a 12 month high of $41.99. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. The stock has a market cap of $591.47 million, a PE ratio of 16.58 and a beta of 0.87. The stock’s 50 day moving average is $33.32 and its 200 day moving average is $35.87.

Orrstown Financial Services (NASDAQ:ORRF) last released its earnings results on Friday, January 31st. The bank reported $0.87 EPS 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%. Research analysts predict that Orrstown Financial Services, Inc. will post 4.23 EPS for the current fiscal year.

Orrstown Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.04 annualized dividend and a yield of 3.41%. This is a boost from Orrstown Financial Services’s previous quarterly dividend of $0.23. Orrstown Financial Services’s payout ratio is presently 56.52%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Orrstown Financial Services in the fourth quarter worth about $38,000. R Squared Ltd bought a new stake in Orrstown Financial Services in the 4th quarter worth approximately $42,000. VSM Wealth Advisory LLC purchased a new stake in shares of Orrstown Financial Services during the 4th quarter worth approximately $47,000. Summit Investment Advisors Inc. boosted its position in shares of Orrstown Financial Services by 21.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,942 shares of the bank’s stock valued at $71,000 after acquiring an additional 349 shares during the last quarter. Finally, Stonebridge Financial Group LLC purchased a new position in shares of Orrstown Financial Services in the fourth quarter valued at $92,000. Hedge funds and other institutional investors own 44.27% of the company’s stock.

Wall Street Analyst Weigh In

ORRF has been the topic of several analyst reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $42.00 price target (down previously from $46.00) on shares of Orrstown Financial Services in a report on Monday, February 3rd. Piper Sandler started coverage on shares of Orrstown Financial Services in a research note on Wednesday, January 8th. They set an “overweight” rating and a $43.00 target price on the stock.

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.