Orrstown Financial Services Inc (NASDAQ:ORRF) Declares Dividend Increase – $0.30 Per Share

Orrstown Financial Services Inc (NASDAQ:ORRF) declared a quarterly dividend on Tuesday, January 27th. Investors of record on Tuesday, February 10th will be given a dividend of 0.30 per share by the bank on Tuesday, February 17th. This represents a c) dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, February 10th. This is a 11.1% increase from Orrstown Financial Services’s previous quarterly dividend of $0.27.

Orrstown Financial Services has raised its dividend payment 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 payout ratio of 25.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Orrstown Financial Services to earn $4.52 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 23.9%.

Orrstown Financial Services Trading Down 3.6%

Orrstown Financial Services stock traded down $1.29 during trading on Wednesday, hitting $34.78. The company had a trading volume of 205,354 shares, compared to its average volume of 280,387. The stock has a market cap of $678.11 million, a price-to-earnings ratio of 9.21 and a beta of 0.82. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.06. Orrstown Financial Services has a 1-year low of $25.57 and a 1-year high of $38.38. The company’s 50 day simple moving average is $36.28 and its 200-day simple moving average is $34.75.

Orrstown Financial Services (NASDAQ:ORRF) last released its quarterly earnings results on Tuesday, January 27th. The bank reported $1.11 EPS for the quarter, topping the consensus estimate of $1.08 by $0.03. The business had revenue of $64.92 million during the quarter, compared to analyst estimates of $51.54 million. Orrstown Financial Services had a return on equity of 14.39% and a net margin of 20.48%. As a group, analysts expect that Orrstown Financial Services will post 4.23 EPS for the current fiscal 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.