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

Orrstown Financial Services, Inc. (NASDAQ:ORRF) Director Scott V. Fainor purchased 3,000 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was acquired at an average price of $31.17 per share, with a total value of $93,510.00. Following the completion of the purchase, the director now owns 13,396 shares in the company, valued at $417,553.32. This represents a 28.86 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Orrstown Financial Services Stock Down 1.0 %

NASDAQ:ORRF opened at $30.55 on Thursday. The firm has a 50-day simple moving average of $33.43 and a two-hundred day simple moving average of $35.90. The firm has a market cap of $592.24 million, a P/E ratio of 16.60 and a beta of 0.87. 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 debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 0.88.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings results on Friday, January 31st. The bank reported $0.87 earnings per share 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%. 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 firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 14th were issued a dividend of $0.26 per share. This is an increase from Orrstown Financial Services’s previous quarterly dividend of $0.23. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date was Friday, February 14th. Orrstown Financial Services’s dividend payout ratio is presently 56.52%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $42.00 target price (down previously from $46.00) on shares of Orrstown Financial Services in a research note on Monday, February 3rd. Piper Sandler assumed coverage on Orrstown Financial Services in a research report on Wednesday, January 8th. They set an “overweight” rating and a $43.00 price objective for the company.

Institutional Investors Weigh In On Orrstown Financial Services

Large investors have recently bought and sold shares of the business. Comprehensive Financial Planning Inc. PA bought a new position in Orrstown Financial Services during the 4th quarter valued at about $38,000. R Squared Ltd purchased a new position in shares of Orrstown Financial Services during the fourth quarter valued at approximately $42,000. VSM Wealth Advisory LLC bought a new position in Orrstown Financial Services during the fourth quarter valued at approximately $47,000. Summit Investment Advisors Inc. boosted its holdings in Orrstown Financial Services by 21.9% in 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 during the last quarter. Finally, Stonebridge Financial Group LLC bought a new stake in Orrstown Financial Services in the 4th quarter worth approximately $92,000. 44.27% of the stock is currently owned by institutional investors.

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.