Orrstown Financial Services, Inc. (NASDAQ:ORRF) to Issue Quarterly Dividend of $0.17

Orrstown Financial Services, Inc. (NASDAQ:ORRF) declared a quarterly dividend on Tuesday, July 21st, Zacks reports. Investors of record on Monday, August 3rd will be paid a dividend of 0.17 per share by the bank on Monday, August 10th. This represents a $0.68 annualized dividend and a dividend yield of 4.80%. The ex-dividend date is Friday, July 31st.

Orrstown Financial Services has increased its dividend payment by an average of 71.4% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Orrstown Financial Services has a payout ratio of 41.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Orrstown Financial Services to earn $0.96 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 70.8%.

Shares of Orrstown Financial Services stock opened at $14.17 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.82. Orrstown Financial Services has a 1 year low of $11.40 and a 1 year high of $23.48. The company has a market capitalization of $155.86 million, a P/E ratio of 7.14 and a beta of 0.91. The business has a 50 day moving average price of $13.70 and a 200 day moving average price of $15.69.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.26. Orrstown Financial Services had a return on equity of 9.72% and a net margin of 17.66%. The firm had revenue of $27.99 million during the quarter, compared to the consensus estimate of $26.59 million. As a group, research analysts expect that Orrstown Financial Services will post 2.09 EPS for the current fiscal year.

Several research analysts have weighed in on the company. ValuEngine downgraded Orrstown Financial Services from a “hold” rating to a “sell” rating in a report on Wednesday, April 1st. Zacks Investment Research downgraded Orrstown Financial Services from a “hold” rating to a “sell” rating in a report on Tuesday, July 21st.

In other Orrstown Financial Services news, EVP Robert J. Fignar purchased 1,990 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was bought at an average cost of $13.50 per share, for a total transaction of $26,865.00. Following the acquisition, the executive vice president now owns 15,961 shares of the company’s stock, valued at approximately $215,473.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.00% of the company’s stock.

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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Dividend History for Orrstown Financial Services (NASDAQ:ORRF)

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