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

Origin Bancorp, Inc. (NASDAQ:OBK) announced a quarterly dividend on Wednesday, October 23rd, NASDAQ reports. Shareholders 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 is Friday, November 15th.

Origin Bancorp has raised its dividend by an average of 16.7% per year over the last three years. Origin Bancorp has a dividend payout ratio of 22.5% meaning its dividend is sufficiently covered by earnings. Equities 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

OBK stock opened at $31.35 on Friday. Origin Bancorp has a fifty-two week low of $26.68 and a fifty-two week high of $37.56. The company has a market capitalization of $976.24 million, a P/E ratio of 11.97 and a beta of 0.99. The company has a 50-day simple moving average of $32.11 and a 200 day simple moving average of $31.68. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.18.

Origin Bancorp (NASDAQ:OBK) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.05. The business had revenue of $164.26 million for the quarter, compared to analyst estimates of $90.70 million. Origin Bancorp had a net margin of 13.18% and a return on equity of 7.94%. During the same quarter last year, the business earned $0.69 earnings per share. Sell-side analysts predict that Origin Bancorp will post 2.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.