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

Origin Bancorp, Inc. (NASDAQ:OBK) announced a quarterly dividend on Wednesday, January 22nd,RTT News reports. Stockholders 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 dividend yield of 1.69%.

Origin Bancorp has raised its dividend payment by an average of 7.0% per year over the last three years. Origin Bancorp has a payout ratio of 20.4% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Origin Bancorp stock opened at $35.45 on Thursday. The company’s 50 day simple moving average is $34.43 and its 200-day simple moving average is $33.21. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 13.73 and a beta of 1.00. Origin Bancorp has a 1 year low of $27.69 and a 1 year high of $37.56. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 0.97.

Origin Bancorp (NASDAQ:OBK) last released 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). The company had revenue of $160.25 million during the quarter, compared to analysts’ expectations of $93.40 million. Origin Bancorp had a net margin of 12.12% and a return on equity of 7.36%. During the same period last year, the firm posted $0.71 earnings per share. As a group, equities research analysts expect that Origin Bancorp will post 2.43 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on OBK. DA Davidson cut their target price on shares of Origin Bancorp from $41.00 to $38.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Raymond James raised shares of Origin Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, December 19th. 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 note on Wednesday, December 4th. Finally, Stephens upped their target price on shares of Origin Bancorp from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $36.80.

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.