Origin Bancorp, Inc. (NASDAQ:OBK) Declares $0.15 Quarterly Dividend

Origin Bancorp, Inc. (NASDAQ:OBK) declared a quarterly dividend on Friday, April 26th, Wall Street Journal reports. Shareholders of record on Wednesday, May 15th will be paid a dividend of 0.15 per share on Friday, May 31st. This represents a $0.60 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Tuesday, May 14th.

Origin Bancorp has increased its dividend by an average of 16.7% per year over the last three years. Origin Bancorp has a payout ratio of 22.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Origin Bancorp to earn $2.64 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 22.7%.

Origin Bancorp Trading Up 0.1 %

Shares of Origin Bancorp stock traded up $0.02 on Friday, hitting $30.97. The stock had a trading volume of 174,649 shares, compared to its average volume of 111,298. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.26. Origin Bancorp has a one year low of $25.59 and a one year high of $36.91. The stock’s 50-day simple moving average is $29.76 and its two-hundred day simple moving average is $31.29. The stock has a market cap of $960.38 million, a price-to-earnings ratio of 11.79 and a beta of 0.96.

Origin Bancorp (NASDAQ:OBK) last posted its earnings results on Wednesday, January 24th. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). The firm had revenue of $81.19 million for the quarter, compared to analysts’ expectations of $88.20 million. Origin Bancorp had a return on equity of 8.28% and a net margin of 13.66%. As a group, sell-side analysts predict that Origin Bancorp will post 2.43 EPS for the current year.

Analysts Set New Price Targets

OBK has been the subject of a number of research reports. DA Davidson reissued a “buy” rating on shares of Origin Bancorp in a research note on Monday, January 15th. TheStreet cut Origin Bancorp from a “b-” rating to a “c+” rating in a research note on Wednesday, March 13th. Piper Sandler reaffirmed a “neutral” rating and issued a $32.00 price target (up from $30.00) on shares of Origin Bancorp in a research note on Friday. Finally, Raymond James raised their price objective on Origin Bancorp from $33.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.33.

About Origin Bancorp

Origin Bancorp, Inc operates as a bank holding company for Origin Bank that provides banking and financial services to small and medium-sized businesses, municipalities, and retail clients in Texas, Louisiana, and Mississippi. It offers noninterest and interest-bearing checking accounts, savings deposits, money market accounts, and time deposits; and offers commercial real estate, construction and land development, consumer, residential real estate, commercial and industrial, mortgage warehouse, and residential mortgage loans.