Orrstown Financial Services Inc (ORRF) To Go Ex-Dividend on November 3rd

Orrstown Financial Services Inc (NASDAQ:ORRF) declared a quarterly dividend on Monday, October 19th. Shareholders of record on Tuesday, November 3rd will be given 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 2.7%. The ex-dividend date is Tuesday, November 3rd.

Orrstown Financial Services has raised its dividend payment by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 10 consecutive years. Orrstown Financial Services has a payout ratio of 28.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Orrstown Financial Services to earn $4.53 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 26.5%.

Orrstown Financial Services Price Performance

ORRF stock opened at $43.92 on Friday. The company has a fifty day moving average price of $42.12 and a 200-day moving average price of $39.22. Orrstown Financial Services has a 52-week low of $32.50 and a 52-week high of $45.40. The company has a market capitalization of $863.91 million, a P/E ratio of 9.78 and a beta of 0.69. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.87 and a current ratio of 0.87.

Orrstown Financial Services (NASDAQ:ORRF) last released its earnings results on Tuesday, October 20th. The bank reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.07. Orrstown Financial Services had a net margin of 24.23% and a return on equity of 14.41%. The business had revenue of $66.70 million for the quarter, compared to analyst estimates of $66.20 million. As a group, equities analysts expect that Orrstown Financial Services will post 4.45 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC raised its stake in shares of Orrstown Financial Services by 186.0% in the third quarter. Nisa Investment Advisors LLC now owns 3,938 shares of the bank’s stock valued at $160,000 after buying an additional 2,561 shares during the period. Arizona State Retirement System bought a new stake in Orrstown Financial Services during the 2nd quarter worth approximately $210,000. Royal Bank of Canada increased its holdings in shares of Orrstown Financial Services by 33.2% in the first quarter. Royal Bank of Canada now owns 6,612 shares of the bank’s stock worth $239,000 after purchasing an additional 1,649 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Orrstown Financial Services in the 2nd quarter valued at about $276,000. Finally, Focus Partners Advisor Solutions LLC bought a new stake in Orrstown Financial Services during the second quarter valued at approximately $284,000. Hedge funds and other institutional investors own 44.27% of the company’s stock.

Orrstown Financial Services Company Profile

Orrstown Financial Services, Inc is the bank holding company for Orrstown Bank, a full-service community banking institution headquartered in Shippensburg, Pennsylvania. Founded in 1919, the company serves individuals, families, businesses and organizations through a network of banking offices in Pennsylvania and Maryland.

Orrstown Bank offers a range of personal and business banking products, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial real estate loans and business financing.