Orrstown Financial Services Inc to Issue Quarterly Dividend of $0.27 (NASDAQ:ORRF)

Key Points

• Orrstown Financial Services Inc declared a quarterly dividend of $0.27 per share, which will be paid on November 12th to investors of record as of November 5th, representing an annual yield of 3.2%.
• The company's current payout ratio is 24.9%, indicating that its dividend is well covered by earnings, with expected earnings of $4.52 per share next year.
• Orrstown Financial's shares opened at $33.38, with a market capitalization of $650.58 million and a PE ratio of 14.90.

Orrstown Financial Services Inc (NASDAQ:ORRF - Get Free Report) declared a quarterly dividend on Tuesday, October 21st. Investors of record on Wednesday, November 5th will be paid a dividend of 0.27 per share by the bank on Wednesday, November 12th. This represents a c) dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, November 5th.

Orrstown Financial Services has a payout ratio of 24.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Orrstown Financial Services to earn $4.52 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 23.0%.

Orrstown Financial Services Trading Up 0.2%

Shares of Orrstown Financial Services stock opened at $33.38 on Wednesday. The firm has a market capitalization of $650.58 million, a PE ratio of 14.90 and a beta of 0.83. Orrstown Financial Services has a twelve month low of $25.57 and a twelve month high of $41.99. The firm's 50-day moving average price is $34.20 and its 200 day moving average price is $31.98. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.13.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last released its earnings results on Tuesday, November 8th. The bank reported $0.65 earnings per share for the quarter. Orrstown Financial Services had a net margin of 11.97% and a return on equity of 14.69%. The business had revenue of $28.27 million for the quarter. On average, sell-side analysts predict that Orrstown Financial Services will post 4.23 EPS for the current fiscal year.

Institutional Trading of Orrstown Financial Services

Institutional investors have recently added to or reduced their stakes in the stock. Nuveen LLC acquired a new stake in Orrstown Financial Services in the 1st quarter valued at approximately $1,058,000. Invesco Ltd. increased its holdings in Orrstown Financial Services by 7.3% in the 1st quarter. Invesco Ltd. now owns 44,142 shares of the bank's stock valued at $1,325,000 after purchasing an additional 2,987 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in Orrstown Financial Services by 82.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 54,019 shares of the bank's stock valued at $1,621,000 after purchasing an additional 24,478 shares during the last quarter. Trexquant Investment LP acquired a new stake in Orrstown Financial Services in the 1st quarter valued at approximately $243,000. Finally, Principal Financial Group Inc. increased its holdings in Orrstown Financial Services by 3.2% in the 1st quarter. Principal Financial Group Inc. now owns 14,997 shares of the bank's stock valued at $450,000 after purchasing an additional 462 shares during the last quarter. Institutional investors and hedge funds own 44.27% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.