Orrstown Financial Services, Inc. (NASDAQ:ORRF) will issue a quarterly dividend of $0.19
Orrstown Financial Services, Inc. (NASDAQ:ORRF- Get a rating) declared a quarterly dividend on Tuesday, July 19, Zacks reports. Investors of record on Monday August 1 will receive a dividend of 0.19 per share from the bank on Monday August 8. This represents a dividend of $0.76 on an annualized basis and a yield of 2.90%. The ex-dividend date is Friday, July 29.
Orrstown Financial Services has increased its dividend payout by an average of 13.2% per year over the past three years and has increased its dividend annually for the past 6 consecutive 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 $2.55 per share next year, meaning the company should continue to be able to cover its $0.76 annual dividend with a ratio expected future payout of 29.8%.
Orrstown Financial Services trades up 5.4%
ORRF opened at $26.18 on Thursday. The company has a debt ratio of 0.13, a quick ratio of 0.85 and a current ratio of 0.85. The company’s 50-day moving average price is $24.36 and its 200-day moving average price is $24.13. Orrstown Financial Services has a one-year low of $21.81 and a one-year high of $26.44. The stock has a market capitalization of $289.55 million, a PE ratio of 9.22 and a beta of 0.81.
Orrstown Financial Services (NASDAQ: ORRF – Get a rating) last released its quarterly results on Tuesday, July 19. The bank reported EPS of $0.83 for the quarter, beating analysts’ consensus estimate of $0.65 by $0.18. Orrstown Financial Services recorded a return on equity of 11.75% and a net margin of 24.94%. As a group, equity research analysts expect Orrstown Financial Services to post EPS of 2.69 for the current year.
Analysts set new price targets
ORRF has been the subject of a number of recent research reports. StockNews.com launched coverage on Orrstown Financial Services in a research report on Thursday, March 31. They set a “buy” rating on the stock. Boenning Scattergood reaffirmed an “outperform” rating on Orrstown Financial Services shares in a Wednesday, April 20 research report.
Hedge funds weigh on Orrstown financial services
Several large investors have recently bought and sold shares of ORRF. Fourthstone LLC increased its holdings of Orrstown Financial Services shares by 22.2% in the first quarter. Fourthstone LLC now owns 310,237 shares of the bank worth $7,114,000 after purchasing an additional 56,272 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings of Orrstown Financial Services shares by 6.2% in the first quarter. Dimensional Fund Advisors LP now owns 347,401 shares of the bank worth $7,966,000 after buying 20,166 additional shares in the last quarter. American Century Companies Inc. increased its holdings of Orrstown Financial Services shares by 27.9% in the first quarter. American Century Companies Inc. now owns 44,951 shares of the bank worth $1,031,000 after buying 9,818 additional shares in the last quarter. Panagora Asset Management Inc. increased its holdings of Orrstown Financial Services shares by 45.3% in the first quarter. Panagora Asset Management Inc. now owns 19,186 shares of the bank worth $440,000 after buying 5,981 additional shares in the last quarter. Finally, MetLife Investment Management LLC increased its holdings of Orrstown Financial Services shares by 57.0% during the first quarter. MetLife Investment Management LLC now owns 6,252 shares of the bank worth $143,000 after buying 2,270 additional shares in the last quarter. Hedge funds and other institutional investors own 43.79% of the company’s shares.
About Orrstown Financial Services
Orrstown Financial Services, Inc operates as a holding company for Orrstown Bank which provides commercial banking and trust services in the United States. The Company accepts a variety of deposits including checking, savings, term, demand and money market deposits. It also offers commercial loans, such as commercial real estate loans, equipment, buildings, working capital and other loans for commercial purposes, as well as industrial loans; consumer loans including home equity and other consumer loans, as well as home equity lines of credit; residential mortgages; acquisition and development loans; municipal loans; and installment and other loans.
This instant news alert was powered by MarketBeat’s storytelling science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Orrstown Financial Services right now?
Before you consider Orrstown Financial Services, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Orrstown Financial Services was not on the list.
Although Orrstown Financial Services currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here