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. Investors 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 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% 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 $4.53 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 Stock Performance

ORRF opened at $43.92 on Friday. The stock’s 50 day simple moving average is $42.12 and its 200-day simple moving average is $39.22. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.01. The stock has a market cap of $863.91 million, a PE ratio of 9.78 and a beta of 0.69. Orrstown Financial Services has a 1 year low of $32.50 and a 1 year high of $45.40.

Orrstown Financial Services (NASDAQ:ORRF) last issued its earnings results on Tuesday, October 20th. The bank reported $1.17 EPS for the quarter, topping the consensus estimate of $1.10 by $0.07. Orrstown Financial Services had a return on equity of 14.41% and a net margin of 24.23%. The firm had revenue of $66.70 million during the quarter, compared to analysts’ expectations of $66.20 million. Sell-side analysts forecast that Orrstown Financial Services will post 4.45 EPS for the current year.

Institutional Trading of Orrstown Financial Services

Hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its holdings in Orrstown Financial Services by 186.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,938 shares of the bank’s stock worth $160,000 after buying an additional 2,561 shares in the last quarter. Arizona State Retirement System bought a new position in Orrstown Financial Services in the 2nd quarter valued at $210,000. Royal Bank of Canada boosted its position in Orrstown Financial Services by 33.2% in the 1st quarter. Royal Bank of Canada now owns 6,612 shares of the bank’s stock valued at $239,000 after buying an additional 1,649 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Orrstown Financial Services in the 2nd quarter valued at $276,000. Finally, Focus Partners Advisor Solutions LLC acquired a new stake in shares of Orrstown Financial Services in the 2nd quarter valued at $284,000. Institutional investors and hedge funds own 44.27% of the company’s stock.

About Orrstown Financial Services

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.