Brian Brunner Acquires 1,000 Shares of Orrstown Financial Services (NASDAQ:ORRF) Stock

Orrstown Financial Services Inc (NASDAQ:ORRF) Director Brian Brunner bought 1,000 shares of the firm’s stock in a transaction on Wednesday, March 18th. The shares were bought at an average cost of $34.02 per share, for a total transaction of $34,020.00. Following the purchase, the director owned 50,529 shares of the company’s stock, valued at approximately $1,718,996.58. The trade was a 2.02% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Orrstown Financial Services Stock Up 0.0%

Shares of NASDAQ:ORRF opened at $34.76 on Friday. Orrstown Financial Services Inc has a 52-week low of $25.57 and a 52-week high of $40.72. The company has a market capitalization of $681.99 million, a PE ratio of 8.32 and a beta of 0.82. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.87. The company has a fifty day moving average of $36.46 and a 200-day moving average of $35.49.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings data on Wednesday, January 28th. The bank reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.04. Orrstown Financial Services had a return on equity of 14.77% and a net margin of 22.71%.The company had revenue of $73.89 million for the quarter, compared to the consensus estimate of $51.54 million. On average, equities analysts predict 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 Tuesday, February 17th. Stockholders of record on Tuesday, February 10th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.5%. This is an increase from Orrstown Financial Services’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, February 10th. Orrstown Financial Services’s dividend payout ratio (DPR) is presently 28.71%.

Institutional Investors Weigh In On Orrstown Financial Services

A number of institutional investors have recently made changes to their positions in ORRF. Hsbc Holdings PLC raised its position in shares of Orrstown Financial Services by 94.1% during the fourth quarter. Hsbc Holdings PLC now owns 15,337 shares of the bank’s stock worth $544,000 after acquiring an additional 7,437 shares during the last quarter. Virtu Financial LLC bought a new stake in Orrstown Financial Services in the fourth quarter valued at approximately $256,000. State of Tennessee Department of Treasury boosted its holdings in Orrstown Financial Services by 52.6% in the fourth quarter. State of Tennessee Department of Treasury now owns 9,121 shares of the bank’s stock valued at $329,000 after acquiring an additional 3,145 shares during the last quarter. XTX Topco Ltd acquired a new stake in Orrstown Financial Services during the 4th quarter valued at approximately $444,000. Finally, truNorth Financial Services Inc. acquired a new stake in Orrstown Financial Services during the 4th quarter valued at approximately $831,000. Institutional investors own 44.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Hovde Group raised their price objective on shares of Orrstown Financial Services from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. Weiss Ratings raised shares of Orrstown Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Orrstown Financial Services has a consensus rating of “Moderate Buy” and an average price target of $39.67.

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.