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

Orrstown Financial Services, Inc. (NASDAQ:ORRF) declared a quarterly dividend on Tuesday, July 20th, Zacks reports. Investors 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 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Friday, July 30th. This is a boost from Orrstown Financial Services’s previous quarterly dividend of $0.18.

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

Shares of ORRF traded up $0.86 during trading hours on Thursday, hitting $23.58. The stock had a trading volume of 20,510 shares, compared to its average volume of 25,093. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $24.26. The firm has a market cap of $265.51 million, a price-to-earnings ratio of 7.68 and a beta of 1.00. Orrstown Financial Services has a 1-year low of $12.40 and a 1-year high of $25.91.

Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings results on Monday, July 19th. The bank reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. Orrstown Financial Services had a net margin of 26.90% and a return on equity of 14.45%. On average, research analysts forecast that Orrstown Financial Services will post 2.65 EPS for the current fiscal year.

Separately, Zacks Investment Research upgraded 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 report 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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