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 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Tuesday, November 5th.
Orrstown Financial Services has increased its dividend payment by an average of 5.6% per year over the last three years. Orrstown Financial Services has a payout ratio of 22.9% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance
Shares of ORRF stock opened at $37.56 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. Orrstown Financial Services has a 52 week low of $20.00 and a 52 week high of $38.81. The stock has a market capitalization of $402.68 million, a PE ratio of 11.21 and a beta of 0.90. The firm has a 50 day moving average of $35.36 and a two-hundred day moving average of $30.43.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on ORRF. Hovde Group raised their price objective on shares of Orrstown Financial Services from $37.00 to $42.00 and gave the company an “outperform” rating in a report on Wednesday. Janney Montgomery Scott assumed coverage on shares of Orrstown Financial Services in a report on Friday, June 28th. They issued a “buy” rating and a $32.00 price objective on the stock.
Get Our Latest Research Report on Orrstown Financial Services
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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