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

Orrstown Financial Services Inc (NASDAQ:ORRF) announced a quarterly dividend on Tuesday, July 21st. Investors of record on Tuesday, August 4th will be paid a dividend of 0.30 per share by the bank on Tuesday, August 11th. This represents a c) annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, August 4th.

Orrstown Financial Services has increased its dividend payment by an average of 0.1%annually over the last three years and has raised 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. Equities research analysts expect Orrstown Financial Services to earn $4.34 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 27.6%.

Orrstown Financial Services Trading Up 0.1%

NASDAQ ORRF opened at $41.26 on Wednesday. Orrstown Financial Services has a 52 week low of $31.51 and a 52 week high of $42.54. The firm has a 50 day moving average of $38.88 and a two-hundred day moving average of $37.38. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $810.76 million, a PE ratio of 9.44 and a beta of 0.70.

Orrstown Financial Services (NASDAQ:ORRF) last posted its earnings results on Tuesday, July 21st. The bank reported $1.09 EPS for the quarter, beating the consensus estimate of $1.03 by $0.06. The firm had revenue of $62.67 million for the quarter, compared to analyst estimates of $64.10 million. Orrstown Financial Services had a return on equity of 14.75% and a net margin of 23.58%. As a group, research analysts expect that Orrstown Financial Services will post 4.29 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.