Orrstown Financial Services (NASDAQ:ORRF) EVP Amy Doll Sells 3,002 Shares

Orrstown Financial Services Inc (NASDAQ:ORRF) EVP Amy Doll sold 3,002 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $41.61, for a total transaction of $124,913.22. Following the sale, the executive vice president owned 25,669 shares of the company’s stock, valued at $1,068,087.09. This trade represents a 10.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Orrstown Financial Services Stock Up 2.5%

Shares of ORRF stock opened at $43.63 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.06. Orrstown Financial Services Inc has a 12 month low of $31.51 and a 12 month high of $43.78. The stock has a market cap of $857.24 million, a P/E ratio of 9.80 and a beta of 0.70. The company has a 50 day simple moving average of $39.55 and a two-hundred day simple moving average of $37.63.

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

Orrstown Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, August 4th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, August 4th. Orrstown Financial Services’s dividend payout ratio (DPR) is currently 26.97%.

Analysts Set New Price Targets

ORRF has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upped their price target on Orrstown Financial Services from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Hovde Group lifted their price objective on Orrstown Financial Services from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Monday. DA Davidson reiterated a “neutral” rating and set a $41.00 price objective on shares of Orrstown Financial Services in a research note on Wednesday, July 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Orrstown Financial Services in a report on Tuesday, July 7th. Finally, Raymond James Financial began coverage on shares of Orrstown Financial Services in a report on Thursday, July 9th. They issued a “market perform” rating for the company. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.33.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its holdings in Orrstown Financial Services by 5.7% during the 4th quarter. Royal Bank of Canada now owns 4,963 shares of the bank’s stock valued at $176,000 after buying an additional 267 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Orrstown Financial Services by 5.3% during the fourth quarter. SG Americas Securities LLC now owns 8,797 shares of the bank’s stock worth $312,000 after acquiring an additional 440 shares during the last quarter. Vista Investment Management boosted its position in shares of Orrstown Financial Services by 5.6% during the second quarter. Vista Investment Management now owns 8,444 shares of the bank’s stock worth $269,000 after acquiring an additional 450 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Orrstown Financial Services by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,009 shares of the bank’s stock valued at $330,000 after acquiring an additional 490 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Orrstown Financial Services by 86.4% during the second quarter. Tower Research Capital LLC TRC now owns 1,748 shares of the bank’s stock valued at $56,000 after acquiring an additional 810 shares in the last quarter. 44.27% of the stock is owned by hedge funds and other 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.