Orrstown Financial Services, Inc. (NASDAQ:ORRF – Get Free Report) announced a quarterly dividend on Monday, January 22nd, Zacks reports. Stockholders of record on Tuesday, February 6th will be given a dividend of 0.20 per share by the bank on Tuesday, February 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Monday, February 5th.
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% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance
Shares of Orrstown Financial Services stock opened at $26.94 on Friday. The company’s 50 day moving average price is $27.60 and its two-hundred day moving average price is $23.91. The firm has a market capitalization of $285.83 million, a P/E ratio of 7.90 and a beta of 0.91. Orrstown Financial Services has a fifty-two week low of $15.52 and a fifty-two week high of $29.79. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.87 and a quick ratio of 0.87.
Wall Street Analyst Weigh In
Institutional Investors Weigh In On Orrstown Financial Services
Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in Orrstown Financial Services by 5.2% in the 2nd quarter. BlackRock Inc. now owns 752,374 shares of the bank’s stock valued at $14,408,000 after acquiring an additional 37,250 shares during the period. FMR LLC increased its holdings in Orrstown Financial Services by 5.0% in the first quarter. FMR LLC now owns 565,991 shares of the bank’s stock valued at $11,241,000 after purchasing an additional 27,047 shares during the period. Dimensional Fund Advisors LP raised its position in Orrstown Financial Services by 3.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 435,871 shares of the bank’s stock worth $8,656,000 after purchasing an additional 12,686 shares during the last quarter. Fourthstone LLC lifted its holdings in Orrstown Financial Services by 22.2% during the 1st quarter. Fourthstone LLC now owns 310,237 shares of the bank’s stock worth $7,114,000 after buying an additional 56,272 shares during the period. Finally, State Street Corp lifted its holdings in Orrstown Financial Services by 4.4% during the 2nd quarter. State Street Corp now owns 214,663 shares of the bank’s stock worth $5,188,000 after buying an additional 9,077 shares during the period. 43.27% of the stock is currently owned by institutional investors and hedge funds.
About Orrstown Financial Services
Orrstown Financial Services, Inc operates as the holding company for Orrstown Bank that provides commercial banking and financial advisory services in the United States. The company accepts various deposits, including checking, savings, time, demand, and money market deposits, as well as certificates of deposit.
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