John W. Giambalvo Acquires 1,000 Shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) Stock

Orrstown Financial Services, Inc. (NASDAQ:ORRF) Director John W. Giambalvo acquired 1,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was bought at an average cost of $30.80 per share, for a total transaction of $30,800.00. Following the purchase, the director now directly owns 40,562 shares of the company’s stock, valued at approximately $1,249,309.60. This trade represents a 2.53 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Orrstown Financial Services Stock Performance

ORRF traded down $0.28 during trading on Thursday, reaching $30.35. The company’s stock had a trading volume of 103,394 shares, compared to its average volume of 129,996. Orrstown Financial Services, Inc. has a 52-week low of $24.70 and a 52-week high of $41.99. The company’s fifty day moving average price is $34.32 and its 200-day moving average price is $36.23. The company has a market capitalization of $588.37 million, a price-to-earnings ratio of 16.49 and a beta of 0.87. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 0.88.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings results on Friday, January 31st. The bank reported $0.87 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.17). Orrstown Financial Services had a net margin of 7.70% and a return on equity of 15.77%. On average, equities analysts forecast that Orrstown Financial Services, Inc. will post 4.23 earnings per share 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. Investors of record on Friday, February 14th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.43%. This is an increase from Orrstown Financial Services’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, February 14th. Orrstown Financial Services’s dividend payout ratio (DPR) is 56.52%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ORRF shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $42.00 target price (down previously from $46.00) on shares of Orrstown Financial Services in a report on Monday, February 3rd. Hovde Group downgraded Orrstown Financial Services from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 13th. Finally, Piper Sandler assumed coverage on Orrstown Financial Services in a research note on Wednesday, January 8th. They issued an “overweight” rating and a $43.00 target price on the stock.

Hedge Funds Weigh In On Orrstown Financial Services

A number of large investors have recently bought and sold shares of the business. Barclays PLC grew its position in Orrstown Financial Services by 120.4% in the third quarter. Barclays PLC now owns 33,721 shares of the bank’s stock worth $1,212,000 after buying an additional 18,422 shares during the last quarter. Empowered Funds LLC grew its holdings in Orrstown Financial Services by 206.0% during the 3rd quarter. Empowered Funds LLC now owns 72,563 shares of the bank’s stock worth $2,609,000 after acquiring an additional 48,851 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of Orrstown Financial Services in the 3rd quarter valued at about $478,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Orrstown Financial Services by 110.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,387 shares of the bank’s stock worth $1,596,000 after acquiring an additional 23,333 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in 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 worth $5,683,000 after acquiring an additional 131,845 shares during the last quarter. Institutional investors own 44.27% of the company’s stock.

About Orrstown Financial Services

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.