Orrstown Financial Services, Inc. (NASDAQ:ORRF - Get Free Report) Director John W. Giambalvo acquired 1,000 shares of the business's stock in a transaction dated Monday, March 10th. The shares were acquired at an average cost of $30.80 per share, with a total value of $30,800.00. Following the acquisition, the director now directly owns 40,562 shares of the company's stock, valued at $1,249,309.60. This represents a 2.53 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
ORRF traded down $0.28 during trading on Thursday, reaching $30.35. The stock had a trading volume of 103,394 shares, compared to its average volume of 129,996. The stock's 50 day moving average is $34.32 and its two-hundred day moving average is $36.23. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $588.37 million, a price-to-earnings ratio of 16.49 and a beta of 0.87. Orrstown Financial Services, Inc. has a one year low of $24.70 and a one year high of $41.99.
Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The bank reported $0.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.04 by ($0.17). Orrstown Financial Services had a return on equity of 15.77% and a net margin of 7.70%. As a group, analysts expect that Orrstown Financial Services, Inc. will post 4.23 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were issued a $0.26 dividend. 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. This represents a $1.04 dividend on an annualized basis and a yield of 3.43%. Orrstown Financial Services's dividend payout ratio is 56.52%.
Institutional investors have recently added to or reduced their stakes in the company. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Orrstown Financial Services in the fourth quarter worth $38,000. R Squared Ltd purchased a new stake in shares of Orrstown Financial Services in the fourth quarter worth $42,000. VSM Wealth Advisory LLC purchased a new stake in shares of Orrstown Financial Services in the fourth quarter worth $47,000. Summit Investment Advisors Inc. grew its stake 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 acquiring an additional 349 shares during the last quarter. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of Orrstown Financial Services in the fourth quarter worth $92,000. Institutional investors own 44.27% of the company's stock.
Several analysts have weighed in on the company. Piper Sandler assumed coverage on Orrstown Financial Services in a research report on Wednesday, January 8th. They issued an "overweight" rating and a $43.00 price objective for the company. Keefe, Bruyette & Woods restated an "outperform" rating and set a $42.00 target price (down previously from $46.00) on shares of Orrstown Financial Services in a report on Monday, February 3rd. Finally, Hovde Group downgraded Orrstown Financial Services from an "outperform" rating to a "market perform" rating in a report on Wednesday, November 13th.
Check Out Our Latest Research Report on ORRF
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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