Orrstown Financial Services, Inc. (NASDAQ:ORRF) Director Sarah M. Brown Buys 300 Shares

Orrstown Financial Services, Inc. (NASDAQ:ORRF - Get Free Report) Director Sarah M. Brown purchased 300 shares of the company's stock in a transaction dated Tuesday, February 4th. The stock was purchased at an average cost of $34.69 per share, for a total transaction of $10,407.00. Following the transaction, the director now owns 8,989 shares of the company's stock, valued at approximately $311,828.41. This trade represents a 3.45 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Orrstown Financial Services Stock Performance

ORRF traded down $0.41 during trading on Monday, reaching $34.10. 105,713 shares of the company's stock were exchanged, compared to its average volume of 114,631. The company has a market capitalization of $661.20 million, a P/E ratio of 18.53 and a beta of 0.90. The business has a 50 day moving average price of $36.53 and a 200 day moving average price of $36.33. 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 quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.13.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The bank reported $0.87 earnings per share 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%. As a group, analysts predict that Orrstown Financial Services, Inc. will post 4.23 earnings per share for the current fiscal year.

Orrstown Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 14th will be paid a dividend of $0.26 per share. This is a positive change from Orrstown Financial Services's previous quarterly dividend of $0.23. This represents a $1.04 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Friday, February 14th. Orrstown Financial Services's dividend payout ratio is currently 50.00%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ORRF shares. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $42.00 target price (down from $46.00) on shares of Orrstown Financial Services in a research note on Monday, February 3rd. Hovde Group downgraded shares of Orrstown Financial Services from an "outperform" rating to a "market perform" rating in a report on Wednesday, November 13th. Finally, Piper Sandler began 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 Investors Weigh In On Orrstown Financial Services

Several institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC lifted its holdings in Orrstown Financial Services by 31.0% during the 3rd quarter. CWM LLC now owns 2,217 shares of the bank's stock valued at $80,000 after purchasing an additional 525 shares during the last quarter. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Orrstown Financial Services during the fourth quarter worth approximately $38,000. R Squared Ltd acquired a new stake in shares of Orrstown Financial Services during the fourth quarter worth approximately $42,000. Principal Financial Group Inc. raised its stake in shares of Orrstown Financial Services by 9.4% in the fourth quarter. Principal Financial Group Inc. now owns 14,535 shares of the bank's stock valued at $532,000 after acquiring an additional 1,245 shares during the last quarter. Finally, Segall Bryant & Hamill LLC boosted its holdings in shares of Orrstown Financial Services by 1.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 124,652 shares of the bank's stock worth $4,482,000 after acquiring an additional 2,143 shares in the last quarter. Institutional investors and hedge funds own 44.27% of the company's 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.