Insider Selling: Orrstown Financial Services (NASDAQ:ORRF) EVP Sells 3,002 Shares

Key Points

• Insider sale: Orrstown Financial Services EVP Amy Doll sold 3,002 shares for approximately $124,913, reducing her stake by 10.47% to 25,669 shares.
• Strong performance: The stock traded at $43.63, near its 52-week high of $43.78, after the company reported quarterly EPS of $1.09, exceeding the $1.03 analyst consensus.
• Positive investor outlook: The company declared a quarterly dividend of $0.30, while analysts’ consensus rating remains “Moderate Buy” with a $44.33 price target; institutional investors own 44.27% of shares.

Orrstown Financial Services Inc (NASDAQ:ORRF - Get Free Report) EVP Amy Doll sold 3,002 shares of the stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $41.61, for a total transaction of $124,913.22. Following the completion of the transaction, the executive vice president owned 25,669 shares in the company, valued at $1,068,087.09. This trade represents a 10.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Orrstown Financial Services Stock Performance

NASDAQ ORRF traded up $1.07 during trading hours on Tuesday, hitting $43.63. 90,527 shares of the company's stock traded hands, compared to its average volume of 180,290. The business's fifty day moving average price is $39.39 and its two-hundred day moving average price is $37.57. 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 firm has a market capitalization of $857.33 million, a P/E ratio of 9.80 and a beta of 0.70. Orrstown Financial Services Inc has a 52 week low of $31.51 and a 52 week high of $43.78.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last announced its earnings results on Tuesday, July 21st. The bank reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $1.03 by $0.06. Orrstown Financial Services had a net margin of 24.00% and a return on equity of 14.66%. The business had revenue of $64.30 million during the quarter, compared to analysts' expectations of $64.10 million. Equities research analysts predict that Orrstown Financial Services Inc will post 4.37 EPS for the current year.

Orrstown Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, August 4th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Tuesday, August 4th. Orrstown Financial Services's dividend payout ratio is 26.97%.

Analysts Set New Price Targets

ORRF has been the topic of several analyst reports. Hovde Group lifted their target price on Orrstown Financial Services from $42.00 to $46.00 and gave the company an "outperform" rating in a research report on Monday. Weiss Ratings restated a "buy (b)" rating on shares of Orrstown Financial Services in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods raised their price objective on Orrstown Financial Services from $44.00 to $46.00 and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. Raymond James Financial initiated coverage on Orrstown Financial Services in a research report on Thursday, July 9th. They set a "market perform" rating on the stock. Finally, DA Davidson reiterated a "neutral" rating and set a $41.00 price objective on shares of Orrstown Financial Services in a research note on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.33.

Institutional Trading of Orrstown Financial Services

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of 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 buying an additional 27,125 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Orrstown Financial Services by 8.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 900,674 shares of the bank's stock worth $32,496,000 after acquiring an additional 68,935 shares during the last quarter. Wellington Management Group LLP increased its stake in Orrstown Financial Services by 9.2% in the 3rd quarter. Wellington Management Group LLP now owns 608,402 shares of the bank's stock worth $20,674,000 after acquiring an additional 51,140 shares during the last quarter. Millennium Management LLC raised its holdings 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 acquiring an additional 182,709 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Orrstown Financial Services during the 1st quarter valued at approximately $10,743,000. Hedge funds and other institutional investors own 44.27% of the company's stock.

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.

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