Orrstown Financial Services, Inc. (ORRF) Increases Dividend to $0.13 Per Share

Orrstown Financial Services, Inc. (NASDAQ:ORRF) announced a quarterly dividend on Thursday, April 19th, Wall Street Journal reports. Shareholders of record on Tuesday, April 24th will be given a dividend of 0.13 per share by the bank on Wednesday, May 2nd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Monday, April 23rd. This is an increase from Orrstown Financial Services’s previous quarterly dividend of $0.12.

Shares of Orrstown Financial Services stock traded up $0.05 on Thursday, reaching $25.10. The company’s stock had a trading volume of 6,426 shares, compared to its average volume of 14,011. The firm has a market cap of $210.30, a price-to-earnings ratio of 19.27 and a beta of 0.41. Orrstown Financial Services has a 52 week low of $19.93 and a 52 week high of $26.95. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 0.58.

Orrstown Financial Services (NASDAQ:ORRF) last posted its earnings results on Wednesday, April 18th. The bank reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.12. The business had revenue of $17.39 million during the quarter, compared to analyst estimates of $16.04 million. Orrstown Financial Services had a return on equity of 7.53% and a net margin of 11.33%. equities research analysts forecast that Orrstown Financial Services will post 1.4 EPS for the current fiscal year.

An institutional investor recently raised its position in Orrstown Financial Services stock. State Street Corp increased its position in Orrstown Financial Services, Inc. (NASDAQ:ORRF) by 7.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 102,012 shares of the bank’s stock after acquiring an additional 6,696 shares during the period. State Street Corp owned about 1.22% of Orrstown Financial Services worth $2,330,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 39.89% of the company’s stock.

Several brokerages recently commented on ORRF. ValuEngine raised Orrstown Financial Services from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Boenning Scattergood reaffirmed a “hold” rating on shares of Orrstown Financial Services in a report on Thursday, January 25th. Finally, Zacks Investment Research lowered Orrstown Financial Services from a “buy” rating to a “hold” rating in a report on Tuesday, January 30th.

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Orrstown Financial Services Company Profile

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, and other commercial purpose 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.

Dividend History for Orrstown Financial Services (NASDAQ:ORRF)

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