Insider Selling: Orrstown Financial Services (NASDAQ:ORRF) EVP Sells $124,913.22 in Stock

Orrstown Financial Services Inc (NASDAQ:ORRF) EVP Amy Doll sold 3,002 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $41.61, for a total value of $124,913.22. Following the sale, the executive vice president directly owned 25,669 shares in the company, valued at $1,068,087.09. The trade was a 10.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Orrstown Financial Services Trading Up 2.5%

NASDAQ ORRF traded up $1.07 on Tuesday, hitting $43.63. 90,527 shares of the stock were exchanged, compared to its average volume of 180,290. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a fifty day moving average price of $39.39 and a two-hundred day moving average price of $37.57. The firm has a market capitalization of $857.33 million, a P/E ratio of 9.80 and a beta of 0.70. Orrstown Financial Services Inc has a 52-week low of $31.51 and a 52-week high of $43.78.

Orrstown Financial Services (NASDAQ:ORRF) last released its earnings results on Tuesday, July 21st. The bank reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.06. The firm had revenue of $64.30 million for the quarter, compared to analysts’ expectations of $64.10 million. Orrstown Financial Services had a return on equity of 14.66% and a net margin of 24.00%. Research analysts forecast that Orrstown Financial Services Inc will post 4.37 EPS for the current fiscal year.

Orrstown Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, August 4th will be issued a $0.30 dividend. The ex-dividend date is Tuesday, August 4th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.8%. Orrstown Financial Services’s payout ratio is presently 26.97%.

Analysts Set New Price Targets

ORRF has been the topic of several research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Orrstown Financial Services in a research note on Tuesday, July 7th. Keefe, Bruyette & Woods lifted their target price on Orrstown Financial Services from $44.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. DA Davidson reiterated a “neutral” rating and issued a $41.00 target price on shares of Orrstown Financial Services in a report on Wednesday, July 22nd. Raymond James Financial initiated coverage on Orrstown Financial Services in a research report on Thursday, July 9th. They set a “market perform” rating on the stock. Finally, Hovde Group raised their price target on Orrstown Financial Services from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Orrstown Financial Services has an average rating of “Moderate Buy” and a consensus price target of $44.33.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE raised its position in shares of Orrstown Financial Services by 24.2% in the 1st quarter. Bank of America Corp DE now owns 139,990 shares of the bank’s stock worth $5,051,000 after acquiring an additional 27,301 shares in the last quarter. Royal Bank of Canada boosted its position in Orrstown Financial Services by 33.2% during the first quarter. Royal Bank of Canada now owns 6,612 shares of the bank’s stock valued at $239,000 after purchasing an additional 1,649 shares in the last quarter. Quantinno Capital Management LP grew its stake in Orrstown Financial Services by 75.9% in the first quarter. Quantinno Capital Management LP now owns 27,365 shares of the bank’s stock valued at $987,000 after purchasing an additional 11,808 shares during the last quarter. Entropy Technologies LP bought a new position in Orrstown Financial Services in the first quarter worth about $342,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Orrstown Financial Services by 62.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 13,143 shares of the bank’s stock worth $474,000 after purchasing an additional 5,041 shares in the last quarter. 44.27% of the stock is currently owned by hedge funds and other institutional investors.

Orrstown Financial Services Company Profile

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.