Orrstown Financial Services, Inc. (NASDAQ:ORRF) CEO Thomas R. Quinn, Jr. Sells 5,261 Shares

Orrstown Financial Services, Inc. (NASDAQ:ORRF) CEO Thomas R. Quinn, Jr. sold 5,261 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $22.36, for a total transaction of $117,635.96. Following the transaction, the chief executive officer now directly owns 53,471 shares of the company’s stock, valued at $1,195,611.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Shares of NASDAQ:ORRF traded up $0.15 during trading on Friday, hitting $23.24. 9,987 shares of the stock traded hands, compared to its average volume of 22,991. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.52. The company has a market cap of $253.83 million, a price-to-earnings ratio of 12.84 and a beta of 0.59. The company has a fifty day moving average price of $21.49 and a two-hundred day moving average price of $20.80. Orrstown Financial Services, Inc. has a 52-week low of $17.30 and a 52-week high of $25.28.

Orrstown Financial Services (NASDAQ:ORRF) last posted its earnings results on Wednesday, July 24th. The bank reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.08. The firm had revenue of $26.31 million during the quarter, compared to analyst estimates of $22.75 million. Orrstown Financial Services had a net margin of 10.65% and a return on equity of 9.48%. On average, equities research analysts predict that Orrstown Financial Services, Inc. will post 1.92 EPS for the current fiscal year.



A number of equities analysts have issued reports on the stock. Zacks Investment Research lowered shares of Orrstown Financial Services from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Hovde Group assumed coverage on shares of Orrstown Financial Services in a research report on Friday, May 31st. They set an “outperform” rating and a $25.00 price target for the company. Finally, Boenning Scattergood reissued an “outperform” rating on shares of Orrstown Financial Services in a research report on Thursday, June 20th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $23.63.

Several large investors have recently bought and sold shares of the company. Maltese Capital Management LLC increased its holdings in shares of Orrstown Financial Services by 64.4% during the 2nd quarter. Maltese Capital Management LLC now owns 238,308 shares of the bank’s stock valued at $5,240,000 after purchasing an additional 93,308 shares in the last quarter. Susquehanna International Group LLP purchased a new position in shares of Orrstown Financial Services during the 2nd quarter valued at approximately $254,000. EJF Capital LLC increased its holdings in shares of Orrstown Financial Services by 29.8% during the 2nd quarter. EJF Capital LLC now owns 237,387 shares of the bank’s stock valued at $5,220,000 after purchasing an additional 54,529 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Orrstown Financial Services by 15.8% during the 2nd quarter. Vanguard Group Inc. now owns 431,077 shares of the bank’s stock valued at $9,480,000 after purchasing an additional 58,699 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Orrstown Financial Services by 29.4% during the 2nd quarter. BlackRock Inc. now owns 699,867 shares of the bank’s stock valued at $15,390,000 after purchasing an additional 159,215 shares in the last quarter. 40.68% of the stock is owned by hedge funds and other institutional investors.

Orrstown Financial Services Company Profile

Orrstown Financial Services, Inc operates as the holding company for Orrstown Bank that provides commercial banking and trust services in the United States. The company accepts various deposits, including checking, savings, time, demand, and money market deposits. It also offers commercial loans, such as commercial real estate, equipment, working capital, and other commercial purpose loans; consumer loans comprising home equity and other consumer loans, as well as home equity lines of credit; residential mortgage loans; agribusiness loans; acquisition and development loans; municipal loans; and installment and other loans.

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