Orrstown Financial Services Inc (ORRF) To Go Ex-Dividend on August 4th

Orrstown Financial Services Inc (NASDAQ:ORRF) announced a quarterly dividend on Tuesday, July 21st. Investors of record on Tuesday, August 4th will be given a dividend of 0.30 per share by the bank on Tuesday, August 11th. This represents a c) dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date 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 increased its dividend annually for the last 10 consecutive years. Orrstown Financial Services has a payout ratio of 28.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Orrstown Financial Services to earn $4.42 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 27.1%.

Orrstown Financial Services Stock Down 0.1%

Shares of NASDAQ:ORRF opened at $42.73 on Friday. Orrstown Financial Services has a fifty-two week low of $31.51 and a fifty-two week high of $43.78. The firm’s 50 day moving average price is $39.92 and its 200 day moving average price is $37.76. 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 cap of $839.64 million, a price-to-earnings ratio of 9.60 and a beta of 0.70.

Orrstown Financial Services (NASDAQ:ORRF) last posted its quarterly earnings results on Tuesday, July 21st. The bank reported $1.09 EPS for the quarter, topping the consensus estimate of $1.03 by $0.06. Orrstown Financial Services had a net margin of 24.00% and a return on equity of 14.66%. The company had revenue of $64.30 million during the quarter, compared to analysts’ expectations of $64.10 million. As a group, equities research analysts predict that Orrstown Financial Services will post 4.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ORRF shares. Hovde Group lifted their price objective on shares of Orrstown Financial Services from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Orrstown Financial Services in a research report on Tuesday, July 7th. Raymond James Financial assumed coverage on Orrstown Financial Services in a research note on Thursday, July 9th. They issued a “market perform” rating on the stock. DA Davidson restated a “neutral” rating and set a $41.00 price target on shares of Orrstown Financial Services in a research note on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods increased their price target on Orrstown Financial Services from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Orrstown Financial Services has a consensus rating of “Moderate Buy” and a consensus target price of $44.33.

Orrstown Financial Services Company Profile

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.