Orrstown Financial Services, Inc. (NASDAQ:ORRF – Get Free Report) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Investors of record on Tuesday, May 7th will be paid a dividend of 0.20 per share by the bank on Tuesday, May 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Monday, May 6th.
Orrstown Financial Services has increased its dividend by an average of 5.6% annually over the last three years and has raised its dividend every year for the last 1 years. Orrstown Financial Services has a payout ratio of 19.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Orrstown Financial Services to earn $4.16 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 19.2%.
Orrstown Financial Services Trading Down 0.7 %
NASDAQ ORRF traded down $0.18 during trading on Thursday, hitting $26.06. The stock had a trading volume of 3,620 shares, compared to its average volume of 42,346. The company has a market capitalization of $278.84 million, a PE ratio of 7.84 and a beta of 0.89. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. The firm has a 50 day moving average price of $26.15 and a 200 day moving average price of $25.60. Orrstown Financial Services has a twelve month low of $15.52 and a twelve month high of $29.79.
Analysts Set New Price Targets
Several equities analysts have weighed in on ORRF shares. Keefe, Bruyette & Woods lifted their target price on Orrstown Financial Services from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Hovde Group lowered their price objective on Orrstown Financial Services from $34.00 to $33.00 and set an “outperform” rating for the company in a research report on Wednesday.
Check Out Our Latest Report on ORRF
About Orrstown Financial Services
Orrstown Financial Services, Inc operates as the financial holding company for Orrstown Bank that provides commercial banking and financial advisory services to retail, commercial, non-profit, and government clients in the United States. It accepts various deposits, including checking, savings, time, demand, and money market deposits, as well as certificates of deposit.
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