Orrstown Financial Services, Inc. (NASDAQ:ORRF) Director Buys $77,175.00 in Stock

Orrstown Financial Services, Inc. (NASDAQ:ORRF - Get Free Report) Director Brian D. Brunner bought 2,500 shares of the company's stock in a transaction on Wednesday, March 19th. The shares were acquired at an average cost of $30.87 per share, for a total transaction of $77,175.00. Following the completion of the acquisition, the director now directly owns 49,330 shares of the company's stock, valued at $1,522,817.10. This trade represents a 5.34 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Orrstown Financial Services Stock Performance

Orrstown Financial Services stock traded down $0.50 during midday trading on Tuesday, reaching $30.85. 98,979 shares of the stock traded hands, compared to its average volume of 102,126. Orrstown Financial Services, Inc. has a fifty-two week low of $24.70 and a fifty-two week 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 firm has a market cap of $598.06 million, a price-to-earnings ratio of 16.77 and a beta of 0.87. The firm has a fifty day moving average price of $33.62 and a two-hundred day moving average price of $35.97.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The bank reported $0.87 earnings per share (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%. On average, equities research analysts forecast that Orrstown Financial Services, Inc. will post 4.23 earnings per share for the current year.

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Orrstown Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 14th were paid a $0.26 dividend. This is a boost from Orrstown Financial Services's previous quarterly dividend of $0.23. The ex-dividend date was Friday, February 14th. This represents a $1.04 annualized dividend and a dividend yield of 3.37%. Orrstown Financial Services's dividend payout ratio is presently 56.52%.

Institutional Investors Weigh In On Orrstown Financial Services

A number of hedge funds and other institutional investors have recently modified their holdings of ORRF. Comprehensive Financial Planning Inc. PA bought a new position in Orrstown Financial Services in the 4th quarter valued at about $38,000. R Squared Ltd bought a new position in shares of Orrstown Financial Services in the fourth quarter valued at approximately $42,000. VSM Wealth Advisory LLC bought a new position in shares of Orrstown Financial Services in the fourth quarter valued at approximately $47,000. Summit Investment Advisors Inc. raised its holdings in Orrstown Financial Services by 21.9% during 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 acquired a new stake in Orrstown Financial Services in the fourth quarter worth approximately $92,000. 44.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on ORRF. Piper Sandler assumed coverage on shares of Orrstown Financial Services in a research note on Wednesday, January 8th. They set an "overweight" rating and a $43.00 price objective on the stock. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $42.00 price target (down from $46.00) on shares of Orrstown Financial Services in a research report on Monday, February 3rd.

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.