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

Origin Bancorp, Inc. (NASDAQ:OBK) declared a quarterly dividend on Wednesday, January 22nd,RTT News reports. Shareholders 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 dividend on an annualized basis and a yield of 1.69%.

Origin Bancorp has increased its dividend by an average of 7.0% annually over the last three years. Origin Bancorp has a payout ratio of 20.4% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

NASDAQ OBK traded down $0.25 during trading on Wednesday, reaching $35.45. The company’s stock had a trading volume of 152,036 shares, compared to its average volume of 136,426. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 14.59 and a beta of 1.00. Origin Bancorp has a twelve month low of $27.69 and a twelve month high of $37.56. The business’s fifty day moving average price is $34.43 and its 200-day moving average price is $33.21.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on OBK shares. Keefe, Bruyette & Woods upped their target price on shares of Origin Bancorp from $37.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Raymond James upgraded shares of Origin Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Stephens upped their price target on shares of Origin Bancorp from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, DA Davidson reduced their price target on shares of Origin Bancorp from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average 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.