Michael John Rice Acquires 500 Shares of Orrstown Financial Services, Inc. (ORRF) Stock

Orrstown Financial Services, Inc. (NASDAQ:ORRF) Director Michael John Rice acquired 500 shares of the company’s stock in a transaction that occurred on Monday, October 29th. The stock was acquired at an average cost of $20.34 per share, for a total transaction of $10,170.00. Following the acquisition, the director now owns 7,533 shares of the company’s stock, valued at approximately $153,221.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

ORRF opened at $20.26 on Thursday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $172.89 million, a P/E ratio of 11.90 and a beta of 0.21. Orrstown Financial Services, Inc. has a 12-month low of $19.92 and a 12-month high of $27.05.

Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings data on Wednesday, October 17th. The bank reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. The company had revenue of $18.20 million for the quarter, compared to the consensus estimate of $17.87 million. Orrstown Financial Services had a net margin of 14.34% and a return on equity of 9.92%. On average, equities research analysts predict that Orrstown Financial Services, Inc. will post 1.81 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 5th. Investors of record on Monday, October 29th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Friday, October 26th. Orrstown Financial Services’s payout ratio is 40.00%.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. purchased a new position in shares of Orrstown Financial Services in the second quarter worth approximately $101,000. Acadian Asset Management LLC boosted its holdings in shares of Orrstown Financial Services by 14.4% in the third quarter. Acadian Asset Management LLC now owns 47,010 shares of the bank’s stock worth $1,119,000 after buying an additional 5,912 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in Orrstown Financial Services by 327.2% during the second quarter. Macquarie Group Ltd. now owns 16,843 shares of the bank’s stock valued at $438,000 after purchasing an additional 12,900 shares in the last quarter. BlackRock Inc. lifted its holdings in Orrstown Financial Services by 2.7% during the second quarter. BlackRock Inc. now owns 534,409 shares of the bank’s stock valued at $13,895,000 after purchasing an additional 13,901 shares in the last quarter. Finally, Stifel Financial Corp purchased a new position in Orrstown Financial Services during the first quarter valued at approximately $431,000. 41.87% of the stock is currently owned by institutional investors.

ORRF has been the topic of a number of research reports. ValuEngine downgraded shares of Orrstown Financial Services from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. Zacks Investment Research downgraded shares of Orrstown Financial Services from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. Boenning Scattergood raised shares of Orrstown Financial Services from a “neutral” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Thursday, October 25th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $34.00 price objective on shares of Orrstown Financial Services in a report on Thursday, July 19th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $29.67.

Orrstown Financial Services Company Profile

Orrstown Financial Services, Inc operates as the holding company for Orrstown Bank that provides commercial banking and trust services in the United States. The company accepts various deposits, including checking, savings, time, demand, and money market deposits. It also offers commercial loans, such as commercial real estate, equipment, working capital, and other commercial purpose loans; consumer loans comprising home equity and other consumer loans, as well as home equity lines of credit; residential mortgage loans; agribusiness loans; acquisition and development loans; municipal loans; and installment and other loans.

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Insider Buying and Selling by Quarter for Orrstown Financial Services (NASDAQ:ORRF)

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