Orrstown Financial Services (NASDAQ:ORRF) Director Buys $10,355.58 in Stock

Orrstown Financial Services Inc (NASDAQ:ORRF - Get Free Report) Director Cindy Jeannette Joiner bought 302 shares of Orrstown Financial Services stock in a transaction that occurred on Monday, October 27th. The stock was purchased at an average cost of $34.29 per share, for a total transaction of $10,355.58. Following the acquisition, the director owned 22,818 shares of the company's stock, valued at $782,429.22. This represents a 1.34% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Orrstown Financial Services Stock Down 0.4%

NASDAQ:ORRF traded down $0.14 during mid-day trading on Tuesday, hitting $34.04. The stock had a trading volume of 103,385 shares, compared to its average volume of 142,605. The stock has a 50-day simple moving average of $34.26 and a two-hundred day simple moving average of $32.22. The company has a market capitalization of $663.44 million, a PE ratio of 9.01 and a beta of 0.83. Orrstown Financial Services Inc has a twelve month low of $25.57 and a twelve month high of $41.99. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.13.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last issued its earnings results on Tuesday, November 8th. The bank reported $0.65 earnings per share for the quarter. The firm had revenue of $28.27 million for the quarter. Orrstown Financial Services had a net margin of 20.48% and a return on equity of 14.66%. On average, equities research analysts anticipate that Orrstown Financial Services Inc will post 4.23 EPS for the current year.

Orrstown Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 12th. Shareholders of record on Wednesday, November 5th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.2%. The ex-dividend date is Wednesday, November 5th. Orrstown Financial Services's dividend payout ratio is currently 28.57%.

Wall Street Analyst Weigh In

Several brokerages have commented on ORRF. Zacks Research lowered shares of Orrstown Financial Services from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 3rd. Keefe, Bruyette & Woods restated an "outperform" rating and set a $42.00 target price (up from $39.00) on shares of Orrstown Financial Services in a research report on Thursday, July 24th. Weiss Ratings restated a "hold (c+)" rating on shares of Orrstown Financial Services in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Orrstown Financial Services from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $39.25.

Read Our Latest Research Report on Orrstown Financial Services

Institutional Trading of Orrstown Financial Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caldwell Trust Co purchased a new stake in Orrstown Financial Services during the 2nd quarter worth about $25,000. State of Alaska Department of Revenue purchased a new stake in Orrstown Financial Services during the 3rd quarter worth about $26,000. Financial Consulate Inc. purchased a new stake in Orrstown Financial Services during the 3rd quarter worth about $36,000. Raymond James Financial Inc. purchased a new stake in Orrstown Financial Services during the 2nd quarter worth about $45,000. Finally, Tower Research Capital LLC TRC increased its position in Orrstown Financial Services by 86.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,748 shares of the bank's stock worth $56,000 after purchasing an additional 810 shares in the last quarter. Hedge funds and other institutional investors own 44.27% of the company's stock.

About Orrstown Financial Services

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.

See Also

• Five stocks we like better than Orrstown Financial Services
• Investing In Preferred Stock vs. Common Stock
• The Drone Arms Race: From Battlefield to Balance Sheet
• 3 Must-Buy Warren Buffett Stocks for Volatile Times
• Why Wall Street Is Backing These 3 Comeback Stocks
• The 3 Best Retail Stocks to Shop for in August
• Intel's Breakout Quarter: More Than a Beat, It's a Declaration

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Orrstown Financial Services Right Now?

Before you consider Orrstown Financial Services, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Orrstown Financial Services wasn't on the list.

While Orrstown Financial Services currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here