Orrstown Financial Services Inc Declares Quarterly Dividend of $0.30 (NASDAQ:ORRF)

Orrstown Financial Services Inc (NASDAQ:ORRF) announced a quarterly dividend on Tuesday, April 21st. Shareholders of record on Tuesday, May 5th will be paid a dividend of 0.30 per share by the bank on Tuesday, May 12th. This represents a c) dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, May 5th.

Orrstown Financial Services has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 10 years. Orrstown Financial Services has a dividend payout ratio of 28.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Orrstown Financial Services to earn $4.50 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 26.7%.

Orrstown Financial Services Price Performance

Shares of NASDAQ ORRF opened at $37.74 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. Orrstown Financial Services has a twelve month low of $26.80 and a twelve month high of $40.72. The stock has a 50 day moving average of $36.49 and a two-hundred day moving average of $35.87. The stock has a market cap of $740.46 million, a P/E ratio of 9.03 and a beta of 0.77.

Orrstown Financial Services (NASDAQ:ORRF) last issued its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.08. Orrstown Financial Services had a return on equity of 14.77% and a net margin of 22.71%.The company had revenue of $64.58 million during the quarter, compared to analysts’ expectations of $63.20 million. On average, research analysts forecast that Orrstown Financial Services will post 4.33 earnings per share for the current year.

About Orrstown Financial Services

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.