Orrstown Financial Services, Inc. (ORRF) To Go Ex-Dividend on February 14th

Orrstown Financial Services, Inc. (NASDAQ:ORRF) announced a quarterly dividend on Thursday, January 30th,RTT News reports. Investors of record on Friday, February 14th will be given a dividend of 0.26 per share by the bank on Friday, February 21st. This represents a $1.04 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Orrstown Financial Services’s previous quarterly dividend of $0.23.

Orrstown Financial Services has increased its dividend by an average of 5.1% per year over the last three years. Orrstown Financial Services has a dividend payout ratio of 24.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Orrstown Financial Services to earn $4.52 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 23.0%.

Orrstown Financial Services Stock Up 1.6 %

ORRF stock opened at $34.66 on Wednesday. The company has a 50 day moving average of $36.43 and a two-hundred day moving average of $36.33. The company has a market cap of $672.06 million, a price-to-earnings ratio of 18.84 and a beta of 0.90. Orrstown Financial Services has a 12-month low of $24.70 and a 12-month high of $41.99. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.13.

Orrstown Financial Services (NASDAQ:ORRF) last announced its quarterly earnings data on Friday, January 31st. The bank reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.17). Orrstown Financial Services had a return on equity of 15.77% and a net margin of 7.70%. On average, equities analysts anticipate that Orrstown Financial Services will post 4.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ORRF. Hovde Group cut Orrstown Financial Services from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 13th. Piper Sandler initiated coverage on shares of Orrstown Financial Services in a research report on Wednesday, January 8th. They issued an “overweight” rating and a $43.00 target price for the company. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $42.00 price target (down previously from $46.00) on shares of Orrstown Financial Services in a report on Monday, February 3rd.

Orrstown Financial Services Company Profile

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.