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In a recent transaction, Scott Fainor, a director at Orrstown Financial Services Inc. (NASDAQ:ORRF), acquired a significant amount of the company’s common stock. The purchase comes as ORRF shares have declined 15% year-to-date, according to InvestingPro data. On March 24, Fainor purchased a total of 3,000 shares, with prices ranging from $31.15 to $31.19 per share. This acquisition amounts to a total value of $93,520. Following these transactions, Fainor now holds 13,396 shares of Orrstown Financial Services Inc., including 4,375 shares owned jointly with his spouse. This move indicates Fainor’s continued confidence in the financial institution, headquartered in Harrisburg, Pennsylvania. The $592 million market cap company currently offers a 3.37% dividend yield, with analysts setting price targets between $38 and $42, suggesting potential upside from current levels.
In other recent news, Orrstown Financial Services, Inc. announced the promotion of Adam L. Metz to Senior Executive Vice President and Chief Operating Officer. This move aligns with the company’s succession planning, as Metz is set to succeed the current President and CEO, Thomas R. Quinn, Jr., upon his retirement in May 2026. Metz has been a significant figure in Orrstown’s growth, having served in various executive roles since 2016. Additionally, Orrstown Financial Services has appointed Barbara E. Brobst to its Boards of Directors, effective February 2025. Brobst brings over 40 years of banking experience, including her previous role as Executive Vice President and Chief Human Resources Officer at Orrstown. Joel Zullinger, Chairman of the Board, highlighted Brobst’s expertise in wealth management and human capital management as valuable assets to the board. These developments are part of Orrstown’s strategic planning to ensure continued leadership and governance excellence. The company, with $5.4 billion in assets, continues to provide a wide range of financial services across multiple states.
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