Brian D. Brunner Acquires 2,500 Shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) Stock

Orrstown Financial Services, Inc. (NASDAQ:ORRF) Director Brian D. Brunner acquired 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The shares were acquired at an average cost of $30.87 per share, with a total value of $77,175.00. Following the purchase, the director now directly owns 49,330 shares of the company’s stock, valued at $1,522,817.10. This trade represents a 5.34 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Orrstown Financial Services Trading Down 1.1 %

Shares of ORRF stock opened at $30.50 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $33.68 and a two-hundred day moving average price of $35.98. Orrstown Financial Services, Inc. has a 12-month low of $24.70 and a 12-month high of $41.99. The firm has a market cap of $591.27 million, a P/E ratio of 16.58 and a beta of 0.87.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings results on Friday, January 31st. The bank reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.17). Orrstown Financial Services had a return on equity of 15.77% and a net margin of 7.70%. Equities analysts anticipate that Orrstown Financial Services, Inc. will post 4.23 EPS for the current fiscal year.

Orrstown Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.04 annualized dividend and a yield of 3.41%. This is a positive change from Orrstown Financial Services’s previous quarterly dividend of $0.23. Orrstown Financial Services’s payout ratio is 56.52%.

Analysts Set New Price Targets

ORRF has been the subject of several research analyst reports. Piper Sandler initiated coverage on Orrstown Financial Services in a research note on Wednesday, January 8th. They set an “overweight” rating and a $43.00 price objective for the company. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $42.00 price objective (down previously from $46.00) on shares of Orrstown Financial Services in a research note on Monday, February 3rd.

Institutional Investors Weigh In On Orrstown Financial Services

Hedge funds have recently added to or reduced their stakes in the company. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Orrstown Financial Services in the fourth quarter worth about $38,000. R Squared Ltd purchased a new position in shares of Orrstown Financial Services in the fourth quarter worth about $42,000. VSM Wealth Advisory LLC purchased a new position in shares of Orrstown Financial Services in the fourth quarter worth about $47,000. Summit Investment Advisors Inc. increased its holdings in shares of 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 buying an additional 349 shares during the period. Finally, Stonebridge Financial Group LLC purchased a new position in shares of Orrstown Financial Services in the fourth quarter worth about $92,000. 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.