Orrstown Financial Services, Inc. (NASDAQ:ORRF) Plans Dividend Increase – $0.19 Per Share

Orrstown Financial Services, Inc. (NASDAQ:ORRF) declared a quarterly dividend on Tuesday, July 20th, Zacks reports. Shareholders of record on Monday, August 2nd will be paid a dividend of 0.19 per share by the bank on Monday, August 9th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Friday, July 30th. This is an increase from Orrstown Financial Services’s previous quarterly dividend of $0.18.

Orrstown Financial Services has raised its dividend payment by 61.9% over the last three years and has increased its dividend annually for the last 1 consecutive years.

Shares of NASDAQ ORRF opened at $23.58 on Thursday. Orrstown Financial Services has a fifty-two week low of $12.40 and a fifty-two week high of $25.91. The firm’s 50 day simple moving average is $24.26. The company has a market capitalization of $265.51 million, a P/E ratio of 7.68 and a beta of 1.00. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.13.

Orrstown Financial Services (NASDAQ:ORRF) last announced its earnings results on Monday, July 19th. The bank reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.06. Orrstown Financial Services had a net margin of 26.90% and a return on equity of 14.45%. As a group, research analysts forecast that Orrstown Financial Services will post 2.65 earnings per share for the current year.

Separately, Zacks Investment Research raised shares of Orrstown Financial Services from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Wednesday, June 30th.

About Orrstown Financial Services

Orrstown Financial Services, Inc operates as the holding company for Orrstown Bank that provides commercial banking and trust services in the United States. The company accepts various deposits, including checking, savings, time, demand, and money market deposits. It also offers commercial loans, such as commercial real estate, equipment, working capital, construction, and other commercial purpose loans, as well as industrial loans; consumer loans comprising home equity and other consumer loans, as well as home equity lines of credit; residential mortgage loans; agribusiness loans; acquisition and development loans; municipal loans; and installment and other loans.

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Dividend History for Orrstown Financial Services (NASDAQ:ORRF)

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