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

Origin Bancorp, Inc. (NASDAQ:OBK) announced a quarterly dividend on Thursday, July 25th, Wall Street Journal reports. Investors of record on Thursday, August 15th will be given a dividend of 0.15 per share on Friday, August 30th. This represents a $0.60 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Thursday, August 15th.

Origin Bancorp has increased its dividend payment by an average of 16.7% per year over the last three years. Origin Bancorp has a payout ratio of 21.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Origin Bancorp to earn $2.85 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 21.1%.

Origin Bancorp Price Performance

Origin Bancorp stock traded down $1.57 during midday trading on Thursday, reaching $34.78. The company’s stock had a trading volume of 436,952 shares, compared to its average volume of 111,003. The stock has a market cap of $1.08 billion, a PE ratio of 13.30 and a beta of 1.00. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $31.76 and a 200-day moving average price of $31.08. Origin Bancorp has a 52 week low of $26.68 and a 52 week high of $37.56.

Origin Bancorp (NASDAQ:OBK) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.05. Origin Bancorp had a return on equity of 8.17% and a net margin of 13.66%. The company had revenue of $164.26 million during the quarter, compared to the consensus estimate of $90.70 million. During the same period last year, the company earned $0.69 earnings per share. On average, sell-side analysts predict that Origin Bancorp will post 2.65 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on OBK. Piper Sandler reiterated a “neutral” rating and set a $32.00 target price (up previously from $30.00) on shares of Origin Bancorp in a research report on Friday, April 26th. Stephens reiterated an “overweight” rating and set a $39.00 price objective on shares of Origin Bancorp in a report on Thursday. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

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.