Amy Doll Sells 3,002 Shares of Orrstown Financial Services (NASDAQ:ORRF) Stock

Orrstown Financial Services Inc (NASDAQ:ORRF) EVP Amy Doll sold 3,002 shares of the stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $41.61, for a total value of $124,913.22. Following the completion of the transaction, the executive vice president owned 25,669 shares of the company’s stock, valued at $1,068,087.09. This represents a 10.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Orrstown Financial Services Stock Performance

NASDAQ:ORRF opened at $43.28 on Thursday. The stock’s 50-day moving average is $39.68 and its 200-day moving average is $37.68. Orrstown Financial Services Inc has a 1-year low of $31.51 and a 1-year high of $43.78. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.06. The stock has a market cap of $850.45 million, a P/E ratio of 9.73 and a beta of 0.70.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings data on Tuesday, July 21st. The bank reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.06. The business had revenue of $64.30 million during the quarter, compared to analyst estimates of $64.10 million. Orrstown Financial Services had a net margin of 24.00% and a return on equity of 14.66%. Equities research analysts anticipate that Orrstown Financial Services Inc will post 4.41 earnings per share for the current year.

Orrstown Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, August 4th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, August 4th. Orrstown Financial Services’s dividend payout ratio (DPR) is currently 26.97%.

Institutional Investors Weigh In On Orrstown Financial Services

Several institutional investors and hedge funds have recently made changes to their positions in ORRF. Vanguard Group Inc. increased its holdings in Orrstown Financial Services by 2.5% in the third quarter. Vanguard Group Inc. now owns 1,115,128 shares of the bank’s stock worth $37,892,000 after purchasing an additional 27,125 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Orrstown Financial Services by 8.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 900,674 shares of the bank’s stock worth $32,496,000 after buying an additional 68,935 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Orrstown Financial Services by 9.2% during the 3rd quarter. Wellington Management Group LLP now owns 608,402 shares of the bank’s stock worth $20,674,000 after buying an additional 51,140 shares during the period. Millennium Management LLC grew its position in shares of Orrstown Financial Services by 123.8% during the 1st quarter. Millennium Management LLC now owns 330,322 shares of the bank’s stock worth $9,913,000 after buying an additional 182,709 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Orrstown Financial Services in the 1st quarter valued at $10,743,000. Institutional investors own 44.27% of the company’s stock.

Analyst Ratings Changes

ORRF has been the subject of several recent research reports. DA Davidson reissued a “neutral” rating and issued a $41.00 price target on shares of Orrstown Financial Services in a research note on Wednesday, July 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Orrstown Financial Services in a research note on Tuesday, July 7th. Keefe, Bruyette & Woods increased their target price on shares of 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 shares of Orrstown Financial Services in a report on Thursday, July 9th. They set a “market perform” rating for the company. Finally, Hovde Group boosted their price target on shares of Orrstown Financial Services from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $44.33.

About Orrstown Financial Services

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.