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

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

Origin Bancorp has increased its dividend payment by an average of 7.0% per year over the last three years. Origin Bancorp has a payout ratio of 20.4% indicating that its dividend is sufficiently covered by earnings. Research 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

Shares of NASDAQ:OBK opened at $35.45 on Thursday. The company’s fifty day moving average price is $34.43 and its 200 day moving average price is $33.21. Origin Bancorp has a 12 month low of $27.69 and a 12 month high of $37.56. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $1.10 billion, a P/E ratio of 13.73 and a beta of 1.00.

Origin Bancorp (NASDAQ:OBK) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.06). Origin Bancorp had a return on equity of 7.36% and a net margin of 12.12%. The company had revenue of $160.25 million for the quarter, compared to analyst estimates of $93.40 million. During the same quarter in the prior year, the business earned $0.71 earnings per share. As a group, sell-side analysts predict that Origin Bancorp will post 2.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

OBK has been the topic of several research analyst reports. Stephens lifted their price target on shares of Origin Bancorp from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. DA Davidson dropped their price objective on shares of Origin Bancorp from $41.00 to $38.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods lifted their price objective on shares of Origin Bancorp from $37.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Raymond James upgraded shares of Origin Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $36.80.

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.