Orrstown Financial Services (NASDAQ:ORRF) Director Buys $14,701.26 in Stock

Orrstown Financial Services Inc (NASDAQ:ORRF) Director Sarah Brown acquired 406 shares of Orrstown Financial Services stock in a transaction that occurred on Monday, February 2nd. The stock was acquired at an average cost of $36.21 per share, with a total value of $14,701.26. Following the purchase, the director owned 9,866 shares in the company, valued at $357,247.86. The trade was a 4.29% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Orrstown Financial Services Trading Up 0.4%

Orrstown Financial Services stock opened at $39.48 on Friday. Orrstown Financial Services Inc has a one year low of $25.57 and a one year high of $40.08. The company’s fifty day moving average price is $36.64 and its two-hundred day moving average price is $34.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $769.86 million, a price-to-earnings ratio of 9.44 and a beta of 0.83.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings results on Tuesday, January 27th. The bank reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.03. The company had revenue of $64.92 million during the quarter, compared to analysts’ expectations of $51.54 million. Orrstown Financial Services had a return on equity of 15.04% and a net margin of 22.71%. On average, analysts forecast that Orrstown Financial Services Inc will post 4.23 earnings per share for the current fiscal year.

Orrstown Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Tuesday, February 10th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $1.20 annualized dividend and a dividend yield of 3.0%. This is an increase from Orrstown Financial Services’s previous quarterly dividend of $0.27. Orrstown Financial Services’s payout ratio is currently 25.84%.

Analysts Set New Price Targets

A number of research analysts have weighed in on ORRF shares. Hovde Group boosted their target price on shares of Orrstown Financial Services from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Orrstown Financial Services in a research report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $39.67.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ORRF. Caldwell Trust Co bought a new stake in Orrstown Financial Services in the second quarter valued at about $25,000. State of Alaska Department of Revenue acquired a new stake in Orrstown Financial Services during the third quarter valued at approximately $26,000. Financial Consulate Inc. bought a new stake in shares of Orrstown Financial Services in the 3rd quarter valued at approximately $36,000. Quarry LP acquired a new position in shares of Orrstown Financial Services in the 3rd quarter worth approximately $42,000. Finally, Raymond James Financial Inc. bought a new position in shares of Orrstown Financial Services during the 2nd quarter worth approximately $45,000. 44.27% of the stock is owned by institutional investors.

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.