Orrstown Financial Services Inc (ORRF) to Distribute Quarterly Dividend of $0.30 on August 11th

Orrstown Financial Services Inc (NASDAQ:ORRF) declared a quarterly dividend on Tuesday, July 21st. Shareholders of record on Tuesday, August 4th will be paid a dividend of 0.30 per share by the bank on Tuesday, August 11th. This represents a c) dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Tuesday, August 4th.

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 dividend payout ratio of 28.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Orrstown Financial Services to earn $4.34 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 27.6%.

Orrstown Financial Services Stock Up 0.3%

ORRF stock opened at $41.37 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $812.84 million, a price-to-earnings ratio of 9.30 and a beta of 0.70. The business’s fifty day moving average price is $38.99 and its two-hundred day moving average price is $37.42. Orrstown Financial Services has a fifty-two week low of $31.51 and a fifty-two week high of $42.54.

Orrstown Financial Services (NASDAQ:ORRF) last announced its earnings results on Tuesday, July 21st. The bank reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.06. Orrstown Financial Services had a net margin of 24.00% and a return on equity of 14.66%. The company had revenue of $64.30 million during the quarter, compared to analysts’ expectations of $64.10 million. On average, equities analysts anticipate that Orrstown Financial Services will post 4.29 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.