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

Origin Bancorp, Inc. (NASDAQ:OBK) announced a quarterly dividend on Wednesday, October 23rd, NASDAQ reports. Investors of record on Friday, November 15th will be paid a dividend of 0.15 per share on Friday, November 29th. This represents a $0.60 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Friday, November 15th.

Origin Bancorp has increased its dividend 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 $2.72 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 22.1%.

Origin Bancorp Stock Performance

NASDAQ:OBK traded down $0.78 during mid-day trading on Thursday, hitting $31.35. 186,853 shares of the company’s stock traded hands, compared to its average volume of 104,132. The firm has a 50 day moving average of $32.09 and a two-hundred day moving average of $31.68. Origin Bancorp has a 12 month low of $26.68 and a 12 month high of $37.56. The firm has a market capitalization of $972.32 million, a price-to-earnings ratio of 11.67 and a beta of 0.99. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.18.

Origin Bancorp (NASDAQ:OBK) last announced its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.05. Origin Bancorp had a return on equity of 7.94% and a net margin of 13.18%. The firm had revenue of $164.26 million during the quarter, compared to the consensus estimate of $90.70 million. During the same quarter in the prior year, the company earned $0.69 EPS. On average, equities analysts forecast that Origin Bancorp will post 2.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their target price on Origin Bancorp from $38.00 to $39.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Stephens reaffirmed an “overweight” rating and issued a $39.00 price target on shares of Origin Bancorp in a report on Thursday, July 25th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

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.