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

Origin Bancorp, Inc. (NASDAQ:OBK) declared a quarterly dividend on Wednesday, October 23rd, NASDAQ reports. Stockholders of record on Friday, November 15th will be paid a dividend of 0.15 per share on Friday, November 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, November 15th.

Origin Bancorp has raised its dividend payment 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. Equities research analysts expect Origin Bancorp to earn $2.72 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 22.1%.

Origin Bancorp Price Performance

Shares of OBK traded down $0.78 during mid-day trading on Thursday, reaching $31.35. The company had a trading volume of 186,853 shares, compared to its average volume of 104,132. The company has a market capitalization of $972.32 million, a P/E ratio of 11.67 and a beta of 0.99. Origin Bancorp has a twelve month low of $26.68 and a twelve month high of $37.56. The company’s 50-day moving average is $32.09 and its 200-day moving average is $31.68. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.97 and a quick ratio of 0.97.

Origin Bancorp (NASDAQ:OBK) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.05. Origin Bancorp had a return on equity of 7.94% and a net margin of 13.18%. The firm had revenue of $164.26 million during the quarter, compared to analysts’ expectations of $90.70 million. During the same period last year, the firm posted $0.69 EPS. On average, equities analysts anticipate that Origin Bancorp will post 2.61 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on OBK shares. Keefe, Bruyette & Woods raised their price target on Origin Bancorp from $38.00 to $39.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Stephens reaffirmed an “overweight” rating and set a $39.00 price target on shares of Origin Bancorp in a report on Thursday, July 25th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.00.

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.