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 paid 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 3.07%. The ex-dividend date is Monday, May 6th.

Orrstown Financial Services has increased 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 payout ratio of 19.2% meaning 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 Price Performance

Shares of Orrstown Financial Services stock traded down $0.18 on Thursday, hitting $26.06. 3,620 shares of the company traded hands, compared to its average volume of 42,346. 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 company has a market cap of $278.84 million, a P/E ratio of 7.84 and a beta of 0.89. The firm’s 50-day simple moving average is $26.15 and its 200 day simple moving average is $25.60. Orrstown Financial Services has a 12-month low of $15.52 and a 12-month high of $29.79.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.83 EPS for the quarter, beating the consensus estimate of $0.82 by $0.01. Orrstown Financial Services had a net margin of 18.99% and a return on equity of 14.60%. The firm had revenue of $32.51 million during the quarter, compared to the consensus estimate of $32.50 million. Analysts expect that Orrstown Financial Services will post 3.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Hovde Group cut their price target on shares of Orrstown Financial Services from $34.00 to $33.00 and set an “outperform” rating on the stock in a report on Wednesday. Keefe, Bruyette & Woods increased their price target 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.

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.