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

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

Origin Bancorp has raised its dividend by an average of 16.7% annually over the last three years. Origin Bancorp has a payout ratio of 22.5% indicating that its dividend is sufficiently covered by earnings. 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 Stock Down 2.4 %

OBK traded down $0.78 during trading on Thursday, hitting $31.35. The stock had a trading volume of 186,853 shares, compared to its average volume of 104,132. Origin Bancorp has a twelve month low of $26.68 and a twelve month high of $37.56. The stock has a 50 day simple moving average of $32.09 and a two-hundred day simple moving average of $31.68. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $972.32 million, a PE ratio of 11.67 and a beta of 0.99.

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

Analysts Set New Price Targets

OBK has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their price target on Origin Bancorp from $38.00 to $39.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Stephens reaffirmed an “overweight” rating and set a $39.00 target price on shares of Origin Bancorp in a report on Thursday, July 25th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.00.

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.