Orrstown Financial Services Inc (NASDAQ:ORRF) Shareholders to Get $0.30 Quarterly Dividend

Orrstown Financial Services Inc (NASDAQ:ORRF) announced a quarterly dividend on Tuesday, October 20th. Stockholders of record on Tuesday, November 3rd will be paid a dividend of $0.30 per share by the bank on Tuesday, November 10th. This represents a $1.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Tuesday, November 3rd.

Orrstown Financial Services has increased its dividend by an average of 0.1% annually over the last three years and has increased its dividend annually for the last 10 consecutive years. Orrstown Financial Services has a payout ratio of 28.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Orrstown Financial Services to earn $4.42 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 27.1%.

Orrstown Financial Services Stock Performance

Shares of NASDAQ ORRF traded up $0.37 during mid-day trading on Wednesday, reaching $42.47. 26,630 shares of the company’s stock were exchanged, compared to its average volume of 154,521. The firm has a market capitalization of $835.37 million, a price-to-earnings ratio of 9.54 and a beta of 0.69. Orrstown Financial Services has a 52 week low of $32.50 and a 52 week high of $43.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a 50-day moving average price of $41.92 and a two-hundred day moving average price of $40.07.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings results on Wednesday, October 21st. The bank reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.07. The company had revenue of $66.70 million for the quarter, compared to the consensus estimate of $66.20 million. Orrstown Financial Services had a net margin of 24.00% and a return on equity of 14.46%. Analysts predict that Orrstown Financial Services will post 4.41 EPS for the current year.

Orrstown Financial Services Company Profile

Orrstown Financial Services, Inc is a bank holding company headquartered in Shippensburg, Pennsylvania. Through its principal subsidiary, Orrstown Bank, the company provides banking and financial services to individuals, families, businesses, and institutions.

Orrstown Bank offers deposit accounts, consumer and commercial lending, mortgage banking, cash-management and treasury services, online and mobile banking, and wealth-management services. Its lending activities include residential mortgages, home-equity loans, consumer loans, commercial real estate financing, and loans to small and middle-market businesses.

Orrstown Financial Services traces its history to the founding of Orrstown Bank in 1919.