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

Origin Bancorp, Inc. (NASDAQ:OBK) announced a quarterly dividend on Wednesday, October 23rd,NASDAQ Dividends reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Friday, November 15th.

Origin Bancorp has increased its dividend by an average of 16.7% per year over the last three years. Origin Bancorp has a dividend payout ratio of 24.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Origin Bancorp to earn $2.44 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 24.6%.

Origin Bancorp Price Performance

Shares of NASDAQ OBK opened at $35.34 on Wednesday. Origin Bancorp has a twelve month low of $27.69 and a twelve month high of $37.56. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 13.75 and a beta of 0.98. The business has a 50 day simple moving average of $32.19 and a 200-day simple moving average of $32.02.

Origin Bancorp (NASDAQ:OBK) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). The company had revenue of $160.25 million for the quarter, compared to the consensus estimate of $93.40 million. Origin Bancorp had a return on equity of 7.36% and a net margin of 12.12%. During the same quarter in the previous year, the company earned $0.71 earnings per share. As a group, equities research analysts expect that Origin Bancorp will post 2.46 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on OBK. DA Davidson cut their price objective on Origin Bancorp from $41.00 to $38.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Keefe, Bruyette & Woods upped their target price on Origin Bancorp from $38.00 to $39.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Finally, Stephens upped their target price on Origin Bancorp from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Origin Bancorp has a consensus rating of “Moderate Buy” and an average price target of $36.20.

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.