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

Origin Bancorp, Inc. (NASDAQ:OBK) announced a quarterly dividend on Wednesday, January 22nd,RTT News reports. Stockholders of record on Friday, February 14th will be given a dividend of 0.15 per share on Friday, February 28th. This represents a $0.60 annualized dividend and a dividend yield of 1.69%.

Origin Bancorp has increased its dividend by an average of 7.0% per year over the last three years. Origin Bancorp has a payout ratio of 20.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Origin Bancorp to earn $2.43 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 24.7%.

Origin Bancorp Price Performance

NASDAQ OBK traded down $0.25 during mid-day trading on Wednesday, hitting $35.45. The stock had a trading volume of 152,036 shares, compared to its average volume of 136,426. Origin Bancorp has a 52-week low of $27.69 and a 52-week high of $37.56. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 14.59 and a beta of 1.00. The company has a 50 day simple moving average of $34.43 and a 200 day simple moving average of $33.21. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.17.

Origin Bancorp (NASDAQ:OBK) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.06). The company had revenue of $160.25 million for the quarter, compared to analysts’ expectations of $93.40 million. Origin Bancorp had a return on equity of 7.36% and a net margin of 12.12%. During the same period in the previous year, the business posted $0.71 EPS. Equities analysts forecast that Origin Bancorp will post 2.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OBK. Keefe, Bruyette & Woods lifted their target price on Origin Bancorp from $37.00 to $42.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. DA Davidson lowered their target price on Origin Bancorp from $41.00 to $38.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. 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. Finally, Raymond James raised Origin Bancorp from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $36.80.

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.