Key Points
- Director Sarah Brown purchased 406 shares on Feb. 2 at $36.21 each (total $14,701.26), increasing her stake to 9,866 shares — a 4.29% ownership increase disclosed on an SEC Form 4.
- Q4 results beat expectations: Orrstown reported EPS of $1.11 vs. $1.08 expected and revenue of $64.92M vs. $51.54M, with a net margin of 22.71%, ROE of 15.04%, market cap ~$757M and a P/E of 9.29.
- Dividend raised and positive analyst view: the quarterly dividend was increased to $0.30 ($1.20 annualized, 3.1% yield; ex-dividend Feb. 10), and analysts rate ORRF a "Moderate Buy" with a consensus target of ~$39.67 (Hovde lifted its target to $42).
Orrstown Financial Services Inc (NASDAQ:ORRF - Get Free Report) Director Sarah Brown purchased 406 shares of the business's stock in a transaction on Monday, February 2nd. The stock was acquired at an average price of $36.21 per share, for a total transaction of $14,701.26. Following the completion of the purchase, the director owned 9,866 shares of the company's stock, valued at $357,247.86. This represents a 4.29% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Orrstown Financial Services Trading Up 2.0%
ORRF opened at $38.83 on Thursday. The business's 50-day simple moving average is $36.50 and its 200-day simple moving average is $34.89. The company has a market cap of $757.09 million, a P/E ratio of 9.29 and a beta of 0.83. Orrstown Financial Services Inc has a one year low of $25.57 and a one year high of $39.16. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.87 and a current ratio of 0.87.
Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last released its quarterly earnings data on Tuesday, January 27th. The bank reported $1.11 earnings per share for the quarter, topping analysts' consensus estimates of $1.08 by $0.03. The company had revenue of $64.92 million for the quarter, compared to analysts' expectations of $51.54 million. Orrstown Financial Services had a net margin of 22.71% and a return on equity of 15.04%. As a group, equities research analysts expect that Orrstown Financial Services Inc will post 4.23 EPS for the current fiscal year.
Orrstown Financial Services Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Tuesday, February 10th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from Orrstown Financial Services's previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, February 10th. Orrstown Financial Services's payout ratio is 25.84%.
Analysts Set New Price Targets
A number of research analysts have commented on ORRF shares. Weiss Ratings restated a "hold (c+)" rating on shares of Orrstown Financial Services in a research note on Thursday, January 22nd. Hovde Group boosted their target price on Orrstown Financial Services from $40.00 to $42.00 and gave the company an "outperform" rating in a report on Monday. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Orrstown Financial Services has an average rating of "Moderate Buy" and a consensus target price of $39.67.
Read Our Latest Stock Report on Orrstown Financial Services
Institutional Investors Weigh In On Orrstown Financial Services
Several institutional investors have recently modified their holdings of ORRF. Assenagon Asset Management S.A. acquired a new stake in shares of Orrstown Financial Services during the third quarter valued at $6,628,000. American Century Companies Inc. grew its stake in shares of Orrstown Financial Services by 13.1% during the 2nd quarter. American Century Companies Inc. now owns 255,717 shares of the bank's stock valued at $8,139,000 after buying an additional 29,714 shares during the period. Geode Capital Management LLC increased its holdings in shares of Orrstown Financial Services by 5.0% during the 2nd quarter. Geode Capital Management LLC now owns 466,343 shares of the bank's stock worth $14,846,000 after buying an additional 22,191 shares during the last quarter. Rosenthal Henry Capital Advisors Inc. purchased a new position in shares of Orrstown Financial Services in the 3rd quarter worth $1,668,000. Finally, Kennedy Capital Management LLC purchased a new stake in Orrstown Financial Services during the second quarter valued at about $1,335,000. Hedge funds and other institutional investors own 44.27% of the company's stock.
About Orrstown Financial Services
(
Get Free Report)
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.
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