Orrstown Financial Services, Inc. (NASDAQ:ORRF) Director John W. Giambalvo Acquires 1,000 Shares

Orrstown Financial Services, Inc. (NASDAQ:ORRF - Get Free Report) Director John W. Giambalvo acquired 1,000 shares of the company's stock in a transaction dated Monday, March 10th. The shares were purchased at an average cost of $30.80 per share, with a total value of $30,800.00. Following the acquisition, the director now owns 40,562 shares of the company's stock, valued at approximately $1,249,309.60. This represents a 2.53 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Orrstown Financial Services Stock Up 0.2 %

Shares of Orrstown Financial Services stock traded up $0.07 during trading on Monday, reaching $30.82. The stock had a trading volume of 149,915 shares, compared to its average volume of 99,198. 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 company has a market capitalization of $597.48 million, a price-to-earnings ratio of 16.75 and a beta of 0.87. Orrstown Financial Services, Inc. has a 52 week low of $24.70 and a 52 week high of $41.99. The stock has a fifty day moving average price of $34.11 and a two-hundred day moving average price of $36.16.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) 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 net margin of 7.70% and a return on equity of 15.77%. Sell-side analysts predict that Orrstown Financial Services, Inc. will post 4.23 EPS for the current fiscal year.

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Orrstown Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 14th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.37%. The ex-dividend date was Friday, February 14th. This is a positive change from Orrstown Financial Services's previous quarterly dividend of $0.23. Orrstown Financial Services's dividend payout ratio is presently 56.52%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Keefe, Bruyette & Woods restated an "outperform" rating and set a $42.00 target price (down previously from $46.00) on shares of Orrstown Financial Services in a report on Monday, February 3rd. Piper Sandler assumed coverage on shares of Orrstown Financial Services in a research note on Wednesday, January 8th. They issued an "overweight" rating and a $43.00 target price for the company.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ORRF. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Orrstown Financial Services in the fourth quarter valued at $833,000. Squarepoint Ops LLC lifted its stake in Orrstown Financial Services by 266.1% in the 4th quarter. Squarepoint Ops LLC now owns 27,112 shares of the bank's stock valued at $993,000 after purchasing an additional 19,706 shares during the last quarter. Millennium Management LLC bought a new position in Orrstown Financial Services during the fourth quarter worth about $5,404,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Orrstown Financial Services by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,519 shares of the bank's stock worth $385,000 after buying an additional 456 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in Orrstown Financial Services by 116.4% in the fourth quarter. Janus Henderson Group PLC now owns 20,191 shares of the bank's stock valued at $740,000 after buying an additional 10,860 shares during the period. 44.27% of the stock is owned by institutional investors and hedge funds.

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.