Orrstown Financial Services, Inc. (NASDAQ:ORRF – Get Free Report) declared a quarterly dividend on Tuesday, April 23rd, Zacks reports. Investors 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 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Monday, May 6th.
Orrstown Financial Services has increased its dividend payment by an average of 5.6% per year over the last three years and has raised 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. Equities 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 Price Performance
Shares of ORRF stock traded up $0.03 during trading hours on Thursday, hitting $26.27. 5,805 shares of the company’s stock were exchanged, compared to its average volume of 42,357. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12. Orrstown Financial Services has a 12-month low of $15.52 and a 12-month high of $29.79. The business’s 50 day simple moving average is $26.14 and its 200-day simple moving average is $25.60. The company has a market capitalization of $281.09 million, a PE ratio of 7.83 and a beta of 0.89.
Wall Street Analyst Weigh In
A number of brokerages have commented on ORRF. Keefe, Bruyette & Woods lifted their price target on Orrstown Financial Services from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Hovde Group cut 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 report on Wednesday.
Check Out Our Latest Research Report on ORRF
Orrstown Financial Services Company Profile
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.
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