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

Origin Bancorp, Inc. (NASDAQ:OBK) announced a quarterly dividend on Wednesday, April 24th, Wall Street Journal reports. Investors of record on Wednesday, May 15th will be given a dividend of 0.15 per share on Friday, May 31st. This represents a $0.60 annualized dividend and a yield of 1.94%. The ex-dividend date is Tuesday, May 14th.

Origin Bancorp has raised its dividend payment by an average of 16.7% annually over the last three years. Origin Bancorp has a dividend payout ratio of 22.5% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

Shares of Origin Bancorp stock remained flat at $30.95 during trading hours on Friday. The stock had a trading volume of 174,878 shares, compared to its average volume of 111,301. Origin Bancorp has a 12 month low of $25.59 and a 12 month high of $36.91. The stock has a market cap of $959.60 million, a P/E ratio of 11.79 and a beta of 0.96. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a fifty day moving average of $29.76 and a 200 day moving average of $31.29.

Origin Bancorp (NASDAQ:OBK) last issued its quarterly earnings data 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 business had revenue of $81.19 million for the quarter, compared to analyst estimates of $88.20 million. Origin Bancorp had a net margin of 13.66% and a return on equity of 8.28%. As a group, equities research analysts predict that Origin Bancorp will post 2.43 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Piper Sandler restated a “neutral” rating and issued a $32.00 price target (up previously from $30.00) on shares of Origin Bancorp in a research note on Friday. DA Davidson restated a “buy” rating on shares of Origin Bancorp in a research note on Monday, January 15th. Raymond James increased their price target on shares of Origin Bancorp from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Finally, TheStreet lowered Origin Bancorp from a “b-” rating to a “c+” rating in a report on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.33.

Origin Bancorp Company Profile

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.