Orrstown Financial Services Inc (NASDAQ:ORRF - Get Free Report) EVP Amy Doll sold 3,002 shares of Orrstown Financial Services stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $41.61, for a total value of $124,913.22. Following the completion of the sale, the executive vice president directly owned 25,669 shares in the company, valued at $1,068,087.09. This trade represents a 10.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Orrstown Financial Services Price Performance
NASDAQ:ORRF opened at $43.63 on Wednesday. The business's 50-day moving average is $39.55 and its 200 day moving average is $37.63. Orrstown Financial Services Inc has a 12 month low of $31.51 and a 12 month high of $43.78. The company has a market capitalization of $857.24 million, a P/E ratio of 9.80 and a beta of 0.70. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.06.
Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The bank reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.03 by $0.06. Orrstown Financial Services had a return on equity of 14.66% and a net margin of 24.00%.The business had revenue of $64.30 million for the quarter, compared to the consensus estimate of $64.10 million. On average, equities research analysts forecast that Orrstown Financial Services Inc will post 4.41 earnings per share for the current fiscal year.
Orrstown Financial Services Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, August 4th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $1.20 dividend on an annualized basis and a yield of 2.8%. Orrstown Financial Services's dividend payout ratio is presently 26.97%.
Institutional Trading of Orrstown Financial Services
Several institutional investors have recently added to or reduced their stakes in ORRF. Assenagon Asset Management S.A. bought a new position in shares of Orrstown Financial Services during the first quarter valued at approximately $10,743,000. Kennedy Capital Management LLC boosted its holdings in Orrstown Financial Services by 569.5% during the 3rd quarter. Kennedy Capital Management LLC now owns 280,723 shares of the bank's stock valued at $9,539,000 after acquiring an additional 238,790 shares during the period. Marshall Wace LLP purchased a new position in Orrstown Financial Services during the 2nd quarter valued at $7,424,000. Millennium Management LLC grew its position in Orrstown Financial Services by 123.8% in the 1st quarter. Millennium Management LLC now owns 330,322 shares of the bank's stock valued at $9,913,000 after acquiring an additional 182,709 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Orrstown Financial Services by 170.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 278,649 shares of the bank's stock worth $9,870,000 after purchasing an additional 175,682 shares during the period. Institutional investors own 44.27% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. DA Davidson restated a "neutral" rating and issued a $41.00 target price on shares of Orrstown Financial Services in a report on Wednesday, July 22nd. Hovde Group boosted their price objective on Orrstown Financial Services from $42.00 to $46.00 and gave the stock an "outperform" rating in a research note on Monday. Keefe, Bruyette & Woods upped their price objective 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. Raymond James Financial initiated coverage on Orrstown Financial Services in a report on Thursday, July 9th. They issued a "market perform" rating for the company. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Orrstown Financial Services in a research report on Tuesday, July 7th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $44.33.
Read Our Latest Research Report on Orrstown Financial Services
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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