Orrstown Financial Services (NASDAQ:ORRF) Director Purchases $10,355.58 in Stock

Orrstown Financial Services Inc (NASDAQ:ORRF) Director Cindy Jeannette Joiner purchased 302 shares of the business’s stock in a transaction dated Monday, October 27th. The shares were purchased at an average price of $34.29 per share, for a total transaction of $10,355.58. Following the acquisition, the director directly owned 22,818 shares of the company’s stock, valued at $782,429.22. This trade represents a 1.34% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Orrstown Financial Services Stock Down 0.3%

ORRF stock opened at $33.11 on Friday. Orrstown Financial Services Inc has a 52-week low of $25.57 and a 52-week high of $41.99. The company’s 50 day simple moving average is $34.28 and its 200-day simple moving average is $32.33. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market capitalization of $645.31 million, a P/E ratio of 8.76 and a beta of 0.83.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings results on Tuesday, November 8th. The bank reported $0.65 earnings per share (EPS) for the quarter. Orrstown Financial Services had a net margin of 20.48% and a return on equity of 14.66%. The business had revenue of $28.27 million for the quarter. As a group, equities research analysts anticipate that Orrstown Financial Services Inc will post 4.23 EPS for the current year.

Orrstown Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 12th. Stockholders of record on Wednesday, November 5th will be issued a dividend of $0.27 per share. The ex-dividend date is Wednesday, November 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.3%. Orrstown Financial Services’s payout ratio is currently 28.57%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ORRF. Wall Street Zen lowered shares of Orrstown Financial Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 16th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Orrstown Financial Services in a research note on Wednesday, October 8th. Zacks Research lowered Orrstown Financial Services from a “strong-buy” rating to a “hold” rating in a report on Friday, October 3rd. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $42.00 price target (up from $39.00) on shares of Orrstown Financial Services in a report on Thursday, July 24th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.25.

Institutional Trading of Orrstown Financial Services

Several large investors have recently modified their holdings of the company. Inspire Advisors LLC boosted its holdings in shares of 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 buying an additional 308 shares during the period. Vista Investment Management boosted its holdings in shares of Orrstown Financial Services by 5.6% during the 2nd quarter. Vista Investment Management now owns 8,444 shares of the bank’s stock worth $269,000 after buying an additional 450 shares during the period. Principal Financial Group Inc. increased its position in Orrstown Financial Services by 3.2% in the 1st quarter. Principal Financial Group Inc. now owns 14,997 shares of the bank’s stock worth $450,000 after buying an additional 462 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Orrstown Financial Services by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,009 shares of the bank’s stock worth $330,000 after buying an additional 490 shares during the period. Finally, Farmers & Merchants Trust Co of Chambersburg PA increased its position in Orrstown Financial Services by 7.4% in the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 7,302 shares of the bank’s stock worth $232,000 after buying an additional 500 shares during the period. 44.27% of the stock is 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.