Orrstown Financial Services, Inc. (NASDAQ:ORRF) to Issue $0.20 Quarterly Dividend

Orrstown Financial Services, Inc. (NASDAQ:ORRF) declared a quarterly dividend on Tuesday, April 23rd, Zacks reports. Shareholders of record on Tuesday, May 7th will be given a dividend of 0.20 per share by the bank on Tuesday, May 14th. This represents a $0.80 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Monday, May 6th.

Orrstown Financial Services has raised its dividend by an average of 5.6% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Orrstown Financial Services has a dividend payout ratio of 19.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Orrstown Financial Services to earn $4.16 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 19.2%.

Orrstown Financial Services Stock Up 0.0 %

NASDAQ:ORRF opened at $26.25 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. The stock’s fifty day moving average is $26.15 and its two-hundred day moving average is $25.60. Orrstown Financial Services has a 52 week low of $15.52 and a 52 week high of $29.79. The stock has a market capitalization of $280.88 million, a price-to-earnings ratio of 7.83 and a beta of 0.89.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. Orrstown Financial Services had a return on equity of 14.60% and a net margin of 18.99%. The company had revenue of $32.51 million for the quarter, compared to analysts’ expectations of $32.50 million. Research analysts anticipate that Orrstown Financial Services will post 3.39 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ORRF. Keefe, Bruyette & Woods upped their price objective on Orrstown Financial Services from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Hovde Group cut their price objective on Orrstown Financial Services from $34.00 to $33.00 and set an “outperform” rating on the stock in a research report on Wednesday.

About Orrstown Financial Services

Orrstown Financial Services, Inc operates as the financial holding company for Orrstown Bank that provides commercial banking and financial advisory services to retail, commercial, non-profit, and government clients in the United States. It accepts various deposits, including checking, savings, time, demand, and money market deposits, as well as certificates of deposit.