Orrstown Financial Services, Inc. (NASDAQ:ORRF - Get Free Report) Director Scott V. Fainor acquired 3,000 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was acquired at an average cost of $31.17 per share, for a total transaction of $93,510.00. Following the acquisition, the director now owns 13,396 shares of the company's stock, valued at $417,553.32. The trade was a 28.86 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Orrstown Financial Services Price Performance
Shares of NASDAQ:ORRF opened at $30.55 on Thursday. The company has a market capitalization of $592.24 million, a P/E ratio of 16.60 and a beta of 0.87. Orrstown Financial Services, Inc. has a 1-year low of $24.70 and a 1-year high of $41.99. The firm's 50 day simple moving average is $33.43 and its two-hundred day simple moving average is $35.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.88 and a quick ratio of 0.88.
Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last released its earnings results on Friday, January 31st. The bank reported $0.87 earnings per share for the quarter, missing analysts' consensus estimates of $1.04 by ($0.17). Orrstown Financial Services had a net margin of 7.70% and a return on equity of 15.77%. Research analysts expect that Orrstown Financial Services, Inc. will post 4.23 EPS for the current fiscal year.
Orrstown Financial Services Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 14th were given 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 dividend yield of 3.40%. This is a boost from Orrstown Financial Services's previous quarterly dividend of $0.23. Orrstown Financial Services's dividend payout ratio (DPR) is currently 56.52%.
Institutional Trading of Orrstown Financial Services
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quest Partners LLC purchased a new stake in Orrstown Financial Services during the 3rd quarter valued at approximately $155,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Orrstown Financial Services by 110.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,387 shares of the bank's stock valued at $1,596,000 after acquiring an additional 23,333 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Orrstown Financial Services in the 3rd quarter worth $575,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Orrstown Financial Services by 503.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 158,029 shares of the bank's stock valued at $5,683,000 after purchasing an additional 131,845 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Orrstown Financial Services during the third quarter valued at about $8,734,000. Institutional investors own 44.27% of the company's stock.
Analysts Set New Price Targets
ORRF has been the topic of several recent research reports. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $42.00 price target (down from $46.00) on shares of Orrstown Financial Services in a research report on Monday, February 3rd. Piper Sandler initiated coverage on Orrstown Financial Services in a report on Wednesday, January 8th. They issued an "overweight" rating and a $43.00 target price on the stock.
Check Out Our Latest Analysis on Orrstown Financial Services
Orrstown Financial Services Company Profile
(
Get Free Report)
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.
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