Orrstown Financial Services, Inc. (NASDAQ:ORRF – Get Free Report) announced a quarterly dividend on Tuesday, October 22nd, Zacks reports. Stockholders of record on Tuesday, November 5th will be given a dividend of 0.23 per share by the bank on Tuesday, November 12th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Tuesday, November 5th.
Orrstown Financial Services has raised its dividend by an average of 5.6% per year over the last three years. Orrstown Financial Services has a dividend payout ratio of 22.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Orrstown Financial Services to earn $4.10 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 22.4%.
Orrstown Financial Services Trading Up 3.2 %
NASDAQ:ORRF opened at $37.56 on Thursday. Orrstown Financial Services has a 12-month low of $20.00 and a 12-month high of $38.81. The firm has a market cap of $402.68 million, a PE ratio of 11.21 and a beta of 0.90. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12. The stock has a fifty day moving average price of $35.36 and a 200 day moving average price of $30.43.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on ORRF shares. Hovde Group lifted their price target on shares of Orrstown Financial Services from $37.00 to $42.00 and gave the stock an “outperform” rating in a research note on Wednesday. Janney Montgomery Scott started coverage on shares of Orrstown Financial Services in a research report on Friday, June 28th. They set a “buy” rating and a $32.00 price objective for the company.
View Our Latest Research 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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