Orrstown Financial Services, Inc. (NASDAQ:ORRF) EVP Sells $151,280.00 in Stock

Orrstown Financial Services, Inc. (NASDAQ:ORRF) EVP David Todd Hornberger sold 4,000 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $37.82, for a total transaction of $151,280.00. Following the completion of the transaction, the executive vice president now owns 20,877 shares of the company’s stock, valued at approximately $789,568.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Orrstown Financial Services Price Performance

NASDAQ:ORRF traded down $0.40 during trading hours on Thursday, hitting $37.44. The company’s stock had a trading volume of 98,109 shares, compared to its average volume of 76,775. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $725.21 million, a PE ratio of 20.32 and a beta of 0.90. Orrstown Financial Services, Inc. has a 52-week low of $20.73 and a 52-week high of $38.81. The business’s 50-day moving average is $35.76 and its two-hundred day moving average is $30.86.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.19. The company had revenue of $95.37 million for the quarter, compared to the consensus estimate of $60.90 million. Orrstown Financial Services had a return on equity of 17.66% and a net margin of 6.63%. As a group, research analysts anticipate that Orrstown Financial Services, Inc. will post 4 EPS for the current fiscal year.

Orrstown Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th will be given a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.92 annualized dividend and a dividend yield of 2.46%. Orrstown Financial Services’s payout ratio is 49.46%.

Wall Street Analysts Forecast Growth

Separately, Hovde Group lifted their price target on Orrstown Financial Services from $37.00 to $42.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ORRF. CWM LLC raised its stake in shares of Orrstown Financial Services by 31.0% in the 3rd quarter. CWM LLC now owns 2,217 shares of the bank’s stock worth $80,000 after buying an additional 525 shares in the last quarter. EntryPoint Capital LLC bought a new stake in shares of Orrstown Financial Services during the 1st quarter worth about $31,000. Empowered Funds LLC boosted its stake in shares of Orrstown Financial Services by 7.7% during the 1st quarter. Empowered Funds LLC now owns 22,092 shares of the bank’s stock worth $591,000 after acquiring an additional 1,575 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Orrstown Financial Services by 92.9% during the 1st quarter. BNP Paribas Financial Markets now owns 5,227 shares of the bank’s stock worth $140,000 after acquiring an additional 2,518 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Orrstown Financial Services by 65.3% during the 3rd quarter. SG Americas Securities LLC now owns 9,318 shares of the bank’s stock worth $335,000 after acquiring an additional 3,682 shares in the last quarter. Institutional investors and hedge funds own 44.27% of the company’s stock.

Orrstown Financial Services Company Profile

Orrstown Financial Services, Inc operates as the financial holding company for Orrstown Bank that provides commercial banking and financial advisory services to retail, commercial, non-profit, and government clients in the United States. It accepts various deposits, including checking, savings, time, demand, and money market deposits, as well as certificates of deposit.