Orrstown Financial Services Inc. (NASDAQ:ORRF) Director Joel R. Zullinger sold 1,998 shares of the company’s stock in a transaction on Monday, November 28th. The stock was sold at an average price of $22.31, for a total value of $44,575.38. Following the transaction, the director now directly owns 38,774 shares in the company, valued at approximately $865,047.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of Orrstown Financial Services Inc. (NASDAQ:ORRF) opened at 22.45 on Wednesday. The firm has a market cap of $185.95 million, a price-to-earnings ratio of 29.54 and a beta of 0.91. Orrstown Financial Services Inc. has a 12-month low of $16.51 and a 12-month high of $23.73. The firm has a 50-day moving average price of $20.05 and a 200 day moving average price of $19.73.

Orrstown Financial Services (NASDAQ:ORRF) last issued its earnings results on Thursday, October 27th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.24 by $0.06. Orrstown Financial Services had a return on equity of 4.45% and a net margin of 10.30%. On average, equities research analysts anticipate that Orrstown Financial Services Inc. will post $0.79 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 18th. Stockholders of record on Wednesday, November 9th were given a $0.09 dividend. The ex-dividend date was Monday, November 7th. This represents a $0.36 annualized dividend and a dividend yield of 1.60%. Orrstown Financial Services’s payout ratio is 47.37%.

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A number of research analysts recently weighed in on the company. Zacks Investment Research lowered Orrstown Financial Services from a “hold” rating to a “strong sell” rating in a report on Thursday, November 3rd. Keefe, Bruyette & Woods lowered Orrstown Financial Services from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $21.50 to $23.00 in a report on Monday, September 12th. Finally, Boenning Scattergood lowered Orrstown Financial Services from an “outperform” rating to a “neutral” rating in a report on Friday, September 30th.

Several hedge funds and other institutional investors have recently modified their holdings of ORRF. Bank of New York Mellon Corp purchased a new position in shares of Orrstown Financial Services during the second quarter valued at approximately $403,000. California State Teachers Retirement System purchased a new position in shares of Orrstown Financial Services during the second quarter valued at approximately $280,000. RMB Capital Management LLC raised its position in shares of Orrstown Financial Services by 30.2% in the second quarter. RMB Capital Management LLC now owns 376,059 shares of the company’s stock valued at $6,788,000 after buying an additional 87,187 shares during the last quarter. Nationwide Fund Advisors purchased a new position in shares of Orrstown Financial Services during the second quarter valued at approximately $167,000. Finally, BlackRock Investment Management LLC raised its position in shares of Orrstown Financial Services by 2,225.5% in the second quarter. BlackRock Investment Management LLC now owns 27,255 shares of the company’s stock valued at $492,000 after buying an additional 26,083 shares during the last quarter. Institutional investors own 41.58% of the company’s stock.

About Orrstown Financial Services

Orrstown Financial Services, Inc is the bank holding company for Orrstown Bank (the Bank). The Bank is engaged in commercial banking and trust business. The Company operates through Community Banking segment. The Bank’s activities involve accepting demand, time and savings deposits, and granting loans.

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