Orrstown Financial Services, Inc. Declares Quarterly Dividend of $0.20 (NASDAQ:ORRF)

Orrstown Financial Services, Inc. (NASDAQ:ORRF - Get Free Report) 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 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend is Monday, May 6th.

Orrstown Financial Services has raised its dividend payment by an average of 5.6% per year over the last three years and has raised its dividend every year for the last 1 years. Orrstown Financial Services has a dividend payout ratio of 19.2% indicating that its dividend is sufficiently covered by earnings. Equities 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 0.7 %

Orrstown Financial Services stock traded up $0.19 during mid-day trading on Thursday, hitting $26.43. 70,565 shares of the company's stock were exchanged, compared to its average volume of 43,188. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12. The stock has a market cap of $282.80 million, a P/E ratio of 7.89 and a beta of 0.89. Orrstown Financial Services has a 1-year low of $15.52 and a 1-year high of $29.79. The stock has a 50 day moving average of $26.14 and a two-hundred day moving average of $25.60.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last posted its earnings results on Tuesday, January 23rd. The bank reported $0.83 EPS for the quarter, topping the consensus estimate of $0.82 by $0.01. The firm had revenue of $32.51 million for the quarter, compared to the consensus estimate of $32.50 million. Orrstown Financial Services had a net margin of 18.99% and a return on equity of 14.60%. As a group, analysts anticipate that Orrstown Financial Services will post 3.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods increased their target price on shares of 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 dropped their price objective on Orrstown Financial Services from $34.00 to $33.00 and set an "outperform" rating on the stock in a research note on Wednesday.

Orrstown Financial Services Company Profile

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.