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

Origin Bancorp, Inc. (NASDAQ:OBK) declared a quarterly dividend on Friday, April 26th, Wall Street Journal reports. Investors of record on Wednesday, May 15th will be given 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 by an average of 16.7% annually over the last three years. Origin Bancorp has a dividend payout ratio of 22.5% indicating that its dividend is sufficiently covered by earnings. Research 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 Trading Up 0.1 %

NASDAQ OBK traded up $0.02 on Friday, reaching $30.97. The stock had a trading volume of 174,649 shares, compared to its average volume of 111,298. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.26. The stock has a fifty day moving average price of $29.76 and a two-hundred day moving average price of $31.29. Origin Bancorp has a 12-month low of $25.59 and a 12-month high of $36.91. The firm has a market capitalization of $960.38 million, a price-to-earnings ratio of 11.79 and a beta of 0.96.

Origin Bancorp (NASDAQ:OBK) last posted its quarterly earnings data on Wednesday, January 24th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate 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. As a group, sell-side analysts forecast that Origin Bancorp will post 2.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on OBK shares. TheStreet downgraded Origin Bancorp from a “b-” rating to a “c+” rating in a research report on Wednesday, March 13th. Raymond James lifted 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. DA Davidson reiterated a “buy” rating on shares of Origin Bancorp in a research note on Monday, January 15th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $32.00 price objective (up previously from $30.00) on shares of Origin Bancorp in a research note on Friday. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.