Orrstown Financial Services, Inc. (NASDAQ:ORRF) Plans Quarterly Dividend of $0.20

Orrstown Financial Services, Inc. (NASDAQ:ORRF) declared a quarterly dividend on Tuesday, April 23rd, Zacks reports. Stockholders 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 dividend yield of 3.05%. The ex-dividend date of this dividend is Monday, May 6th.

Orrstown Financial Services has raised its dividend payment by an average of 5.6% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Orrstown Financial Services has a dividend payout ratio of 19.2% indicating that its dividend is sufficiently covered by earnings. Research 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 Stock Performance

Shares of ORRF stock opened at $26.25 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. Orrstown Financial Services has a one year low of $15.52 and a one year high of $29.79. The company’s 50-day simple moving average is $26.15 and its 200-day simple moving average is $25.60. The stock has a market capitalization of $280.88 million, a price-to-earnings ratio of 7.83 and a beta of 0.89.

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

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Hovde Group dropped 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 research note on Wednesday. Keefe, Bruyette & Woods raised their price target on shares of Orrstown Financial Services from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th.

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.