Joel R. Zullinger Sells 1,998 Shares of Orrstown Financial Services Inc. (ORRF) Stock
Orrstown Financial Services Inc. (NASDAQ:ORRF) Director Joel R. Zullinger sold 1,998 shares of the firm’s stock in a transaction on Monday, November 28th. The shares were sold at an average price of $22.31, for a total value of $44,575.38. Following the completion of the sale, the director now directly owns 38,774 shares of the company’s stock, valued at approximately $865,047.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Orrstown Financial Services Inc. (NASDAQ:ORRF) opened at 22.25 on Thursday. The stock’s 50 day moving average price is $20.05 and its 200 day moving average price is $19.73. Orrstown Financial Services Inc. has a 1-year low of $16.51 and a 1-year high of $23.73. The firm has a market cap of $184.30 million, a P/E ratio of 29.28 and a beta of 0.91.
Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by $0.06. Orrstown Financial Services had a net margin of 10.30% and a return on equity of 4.45%. Equities research analysts predict that Orrstown Financial Services Inc. will post $0.79 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 18th. Investors of record on Wednesday, November 9th were paid a dividend of $0.09 per share. The ex-dividend date was Monday, November 7th. This represents a $0.36 dividend on an annualized basis and a yield of 1.62%. Orrstown Financial Services’s payout ratio is currently 47.37%.
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A number of equities research analysts have commented on the company. Zacks Investment Research downgraded Orrstown Financial Services from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Keefe, Bruyette & Woods downgraded Orrstown Financial Services from an “outperform” rating to a “market perform” rating and raised their target price for the company from $21.50 to $23.00 in a report on Monday, September 12th. Finally, Boenning Scattergood downgraded Orrstown Financial Services from an “outperform” rating to a “neutral” rating in a report on Friday, September 30th.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp bought a new position in shares of Orrstown Financial Services during the second quarter worth approximately $403,000. California State Teachers Retirement System bought a new position in shares of Orrstown Financial Services during the second quarter worth approximately $280,000. RMB Capital Management LLC increased 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 worth $6,788,000 after buying an additional 87,187 shares during the last quarter. Nationwide Fund Advisors bought a new position in shares of Orrstown Financial Services during the second quarter worth approximately $167,000. Finally, BlackRock Investment Management LLC increased 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 worth $492,000 after buying an additional 26,083 shares during the last quarter. Hedge funds and other 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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