Orrstown Financial Services Inc (ORRF) to Issue Quarterly Dividend of $0.30 on February 17th

Orrstown Financial Services Inc (NASDAQ:ORRF) announced a quarterly dividend on Thursday, January 22nd. Stockholders of record on Tuesday, February 10th will be given a dividend of 0.30 per share by the bank on Tuesday, February 17th. This represents a c) annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, February 10th. This is a 11.1% increase from Orrstown Financial Services’s previous quarterly dividend of $0.27.

Orrstown Financial Services has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 10 years. Orrstown Financial Services has a payout ratio of 28.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 $1.20 annual dividend with an expected future payout ratio of 26.5%.

Orrstown Financial Services Price Performance

ORRF stock opened at $39.48 on Friday. The firm has a market cap of $769.82 million, a price-to-earnings ratio of 9.44 and a beta of 0.83. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.06. Orrstown Financial Services has a 12-month low of $25.57 and a 12-month high of $40.08. The company’s fifty day simple moving average is $36.64 and its 200 day simple moving average is $34.97.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings results on Tuesday, January 27th. The bank reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.03. Orrstown Financial Services had a net margin of 22.71% and a return on equity of 15.04%. The business had revenue of $64.92 million for the quarter, compared to analysts’ expectations of $51.54 million. On average, analysts expect that Orrstown Financial Services will post 4.23 earnings per share for the current year.

Orrstown Financial Services Company Profile

Orrstown Financial Services, Inc is the bank holding company for Orrstown Bank, a community banking organization headquartered in Shippensburg, Pennsylvania. The roots of Orrstown Bank date back to 1865, and the holding company structure was established to support its growth and diversification. As a regional financial institution, Orrstown Financial Services focuses on delivering personalized banking solutions to individuals, families and businesses across Central Pennsylvania.

The company’s core offerings include a full suite of deposit products such as checking and savings accounts, money market accounts and certificates of deposit.