Orrstown Financial Services Inc (NASDAQ:ORRF) declared a quarterly dividend on Thursday, October 26th, Wall Street Journal reports. Shareholders of record on Monday, November 6th will be paid a dividend of 0.12 per share by the bank on Wednesday, November 15th. This represents a $0.48 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Friday, November 3rd. This is an increase from Orrstown Financial Services’s previous quarterly dividend of $0.10.
Orrstown Financial Services (NASDAQ:ORRF) opened at 26.70 on Friday. Orrstown Financial Services has a 12 month low of $18.05 and a 12 month high of $26.95. The firm’s 50-day moving average price is $25.02 and its 200-day moving average price is $23.33. The stock has a market cap of $222.76 million, a P/E ratio of 25.16 and a beta of 0.81.
Orrstown Financial Services (NASDAQ:ORRF) last released its earnings results on Wednesday, October 25th. The bank reported $0.34 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.34. Orrstown Financial Services had a return on equity of 7.23% and a net margin of 14.58%. The company had revenue of $16.34 million for the quarter, compared to analysts’ expectations of $16.25 million. On average, analysts predict that Orrstown Financial Services will post $1.34 earnings per share for the current year.
A hedge fund recently raised its stake in Orrstown Financial Services stock. State Street Corp lifted its position in shares of Orrstown Financial Services Inc (NASDAQ:ORRF) by 7.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,012 shares of the bank’s stock after acquiring an additional 6,696 shares during the quarter. State Street Corp owned 1.22% of Orrstown Financial Services worth $2,330,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 38.00% of the company’s stock.
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Several equities analysts have issued reports on ORRF shares. Keefe, Bruyette & Woods upgraded Orrstown Financial Services from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $24.00 to $28.00 in a research report on Thursday, July 27th. Zacks Investment Research upgraded Orrstown Financial Services from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Saturday, July 29th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Orrstown Financial Services in a research report on Friday.
About Orrstown Financial Services
Orrstown Financial Services, Inc is the bank holding company for Orrstown Bank (the Bank). The Bank is engaged in commercial banking and trust business. The Company operates through Community Banking segment. The Bank’s activities involve accepting demand, time and savings deposits, and granting loans.
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