Sarah Brown Acquires 288 Shares of Orrstown Financial Services (NASDAQ:ORRF) Stock

Orrstown Financial Services Inc (NASDAQ:ORRF) Director Sarah Brown purchased 288 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The shares were acquired at an average cost of $35.00 per share, for a total transaction of $10,080.00. Following the completion of the purchase, the director directly owned 9,340 shares of the company’s stock, valued at approximately $326,900. This represents a 3.18% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Orrstown Financial Services Price Performance

Shares of Orrstown Financial Services stock opened at $34.97 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.87 and a current ratio of 0.87. Orrstown Financial Services Inc has a 52-week low of $25.57 and a 52-week high of $41.99. The company has a fifty day moving average of $33.65 and a 200-day moving average of $31.33. The stock has a market capitalization of $681.60 million, a price-to-earnings ratio of 15.61 and a beta of 0.86.

Orrstown Financial Services (NASDAQ:ORRF) last issued its earnings results on Tuesday, July 22nd. The bank reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. The company had revenue of $62.43 million for the quarter, compared to analysts’ expectations of $51.98 million. Orrstown Financial Services had a net margin of 11.97% and a return on equity of 14.69%. Equities research analysts expect that Orrstown Financial Services Inc will post 4.23 EPS for the current year.

Orrstown Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th were paid a $0.27 dividend. This is a boost from Orrstown Financial Services’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.1%. Orrstown Financial Services’s dividend payout ratio is presently 48.21%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wall Street Zen cut Orrstown Financial Services from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. Hovde Group boosted their price objective on Orrstown Financial Services from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Wednesday, May 14th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $42.00 price objective (up previously from $39.00) on shares of Orrstown Financial Services in a research note on Thursday, July 24th. Finally, Zacks Research raised shares of Orrstown Financial Services from a “hold” rating to a “strong-buy” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to MarketBeat.com, Orrstown Financial Services has an average rating of “Buy” and an average price target of $39.25.

Hedge Funds Weigh In On Orrstown Financial Services

Hedge funds and other institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC lifted its stake in Orrstown Financial Services by 4.5% in the second quarter. Squarepoint Ops LLC now owns 41,281 shares of the bank’s stock worth $1,314,000 after acquiring an additional 1,779 shares during the period. Tower Research Capital LLC TRC increased its position 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 valued at $56,000 after purchasing an additional 810 shares during the period. Rafferty Asset Management LLC raised its holdings in Orrstown Financial Services by 22.4% in the 2nd quarter. Rafferty Asset Management LLC now owns 22,505 shares of the bank’s stock worth $716,000 after purchasing an additional 4,117 shares in the last quarter. Oxford Asset Management LLP purchased a new stake in shares of Orrstown Financial Services in the 2nd quarter worth about $263,000. Finally, Curi Capital LLC purchased a new stake in shares of Orrstown Financial Services in the 2nd quarter worth about $293,000. Institutional investors 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.