Orrstown Financial Services Inc (NASDAQ:ORRF) to Issue Quarterly Dividend of $0.30

Orrstown Financial Services Inc (NASDAQ:ORRFGet Free Report) announced a quarterly dividend on Tuesday, July 21st. Stockholders of record on Tuesday, August 4th will be given a dividend of 0.30 per share by the bank on Tuesday, August 11th. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Tuesday, August 4th.

Orrstown Financial Services has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 10 consecutive years. Orrstown Financial Services has a payout ratio of 28.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Orrstown Financial Services to earn $4.34 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 27.6%.

Orrstown Financial Services Stock Performance

NASDAQ ORRF opened at $41.26 on Wednesday. The stock has a market capitalization of $810.76 million, a price-to-earnings ratio of 9.44 and a beta of 0.70. Orrstown Financial Services has a twelve month low of $31.51 and a twelve month high of $42.54. 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 stock has a 50-day moving average of $38.88 and a 200 day moving average of $37.38.

Orrstown Financial Services (NASDAQ:ORRFGet Free Report) last posted its quarterly earnings data 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 return on equity of 14.75% and a net margin of 23.58%.The business had revenue of $62.67 million during the quarter, compared to analysts’ expectations of $64.10 million. Sell-side analysts anticipate that Orrstown Financial Services will post 4.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Raymond James Financial initiated coverage on shares of Orrstown Financial Services in a research note on Thursday, July 9th. They set a “market perform” rating for the company. DA Davidson initiated coverage on Orrstown Financial Services in a research report on Friday, May 15th. They set a “neutral” rating and a $41.00 price target for the company. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Orrstown Financial Services in a report on Tuesday, July 7th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Orrstown Financial Services currently has an average rating of “Moderate Buy” and an average price target of $41.67.

Get Our Latest Stock Analysis on Orrstown Financial Services

Orrstown Financial Services Company Profile

(Get Free Report)

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.

Further Reading

Dividend History for Orrstown Financial Services (NASDAQ:ORRF)

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