Orrstown Financial Services (NASDAQ:ORRF) EVP Sells $124,913.22 in Stock

Orrstown Financial Services Inc (NASDAQ:ORRF) EVP Amy Doll sold 3,002 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $41.61, for a total transaction of $124,913.22. Following the transaction, the executive vice president directly owned 25,669 shares of the company’s stock, valued at approximately $1,068,087.09. This trade represents a 10.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Orrstown Financial Services Stock Down 1.1%

Shares of ORRF opened at $42.79 on Friday. The company has a market capitalization of $840.82 million, a price-to-earnings ratio of 9.62 and a beta of 0.70. Orrstown Financial Services Inc has a 52 week low of $31.51 and a 52 week high of $43.78. The stock’s 50-day moving average price is $39.80 and its 200-day moving average price is $37.73. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.06.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings results on Tuesday, July 21st. The bank reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.06. Orrstown Financial Services had a return on equity of 14.66% and a net margin of 24.00%.The company had revenue of $64.30 million during the quarter, compared to analysts’ expectations of $64.10 million. On average, sell-side analysts predict that Orrstown Financial Services Inc will post 4.41 EPS for the current year.

Orrstown Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, August 4th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Tuesday, August 4th. Orrstown Financial Services’s payout ratio is 26.97%.

Analysts Set New Price Targets

Several analysts recently commented on ORRF shares. Weiss Ratings restated a “buy (b)” rating on shares of Orrstown Financial Services in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods increased their target price on shares of Orrstown Financial Services from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. DA Davidson restated a “neutral” rating and issued a $41.00 price target on shares of Orrstown Financial Services in a research note on Wednesday, July 22nd. Hovde Group increased their price target on Orrstown Financial Services from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Raymond James Financial assumed coverage on Orrstown Financial Services in a report on Thursday, July 9th. They issued a “market perform” rating on the stock. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.33.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new position in Orrstown Financial Services in the 3rd quarter valued at about $42,000. Raymond James Financial Inc. purchased a new stake in Orrstown Financial Services during the 2nd quarter worth approximately $45,000. Tower Research Capital LLC TRC increased its stake in Orrstown Financial Services by 86.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,748 shares of the bank’s stock worth $56,000 after buying an additional 810 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Orrstown Financial Services by 220.4% during the third quarter. Russell Investments Group Ltd. now owns 2,070 shares of the bank’s stock valued at $70,000 after acquiring an additional 1,424 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Orrstown Financial Services by 120.7% in the third quarter. BNP Paribas Financial Markets now owns 4,061 shares of the bank’s stock valued at $138,000 after acquiring an additional 2,221 shares in the last quarter. Institutional investors and hedge funds own 44.27% of the company’s stock.

About Orrstown Financial Services

Orrstown Financial Services, Inc is the bank holding company for Orrstown Bank, a community banking organization headquartered in Shippensburg, Pennsylvania. The roots of Orrstown Bank date back to 1865, and the holding company structure was established to support its growth and diversification. As a regional financial institution, Orrstown Financial Services focuses on delivering personalized banking solutions to individuals, families and businesses across Central Pennsylvania.

The company’s core offerings include a full suite of deposit products such as checking and savings accounts, money market accounts and certificates of deposit.