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

Origin Bancorp, Inc. (NASDAQ:OBK) announced a quarterly dividend on Wednesday, April 24th, Wall Street Journal reports. Stockholders 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 dividend 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% per year 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 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

OBK stock remained flat at $30.95 during trading on Friday. The company had a trading volume of 174,878 shares, compared to its average volume of 111,301. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.26. Origin Bancorp has a 52 week low of $25.59 and a 52 week high of $36.91. The stock’s 50-day moving average is $29.76 and its 200-day moving average is $31.29. The firm has a market capitalization of $959.60 million, a P/E ratio of 11.79 and a beta of 0.96.

Origin Bancorp (NASDAQ:OBK) last released 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). Origin Bancorp had a net margin of 13.66% and a return on equity of 8.28%. The firm had revenue of $81.19 million during the quarter, compared to analysts’ expectations of $88.20 million. Research analysts expect that Origin Bancorp will post 2.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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