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

Orrstown Financial Services Inc (NASDAQ:ORRF) declared a quarterly dividend on Tuesday, April 21st. Stockholders 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 dividend yield of 3.2%. The ex-dividend date is Tuesday, May 5th.

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% indicating that its dividend is sufficiently covered by earnings. Research 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 Stock Performance

Shares of Orrstown Financial Services stock opened at $37.74 on Wednesday. Orrstown Financial Services has a one year low of $26.80 and a one year high of $40.72. The company has a market cap of $740.46 million, a PE ratio of 9.03 and a beta of 0.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.87. The business has a 50-day simple moving average of $36.49 and a 200-day simple moving average of $35.87.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.12 EPS for the quarter, topping 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 business had revenue of $64.58 million during the quarter, compared to the consensus estimate of $63.20 million. On average, equities research analysts forecast that Orrstown Financial Services will post 4.33 EPS for the current fiscal year.

Insider Transactions at Orrstown Financial Services

In other Orrstown Financial Services news, Director Brian D. Brunner purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, March 18th. The stock was purchased at an average cost of $34.02 per share, with a total value of $34,020.00. Following the completion of the acquisition, the director directly owned 50,529 shares of the company’s stock, valued at $1,718,996.58. This trade represents a 2.02% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Orrstown Financial Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. acquired a new position in Orrstown Financial Services in the first quarter valued at approximately $10,743,000. SG Americas Securities LLC boosted its holdings in Orrstown Financial Services by 21.8% in the first quarter. SG Americas Securities LLC now owns 10,711 shares of the bank’s stock valued at $386,000 after purchasing an additional 1,914 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in Orrstown Financial Services by 94.1% in the fourth quarter. Hsbc Holdings PLC now owns 15,337 shares of the bank’s stock valued at $544,000 after purchasing an additional 7,437 shares in the last quarter. Virtu Financial LLC acquired a new position in Orrstown Financial Services in the fourth quarter valued at approximately $256,000. Finally, State of Tennessee Department of Treasury boosted its holdings in Orrstown Financial Services by 52.6% in the fourth quarter. State of Tennessee Department of Treasury now owns 9,121 shares of the bank’s stock valued at $329,000 after purchasing an additional 3,145 shares in the last quarter. 44.27% of the stock is owned by institutional investors and hedge funds.

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.