Origin Bancorp, Inc. (OBK) to Issue Quarterly Dividend of $0.25 on May 29th

Origin Bancorp, Inc. (NYSE:OBK) announced a quarterly dividend on Wednesday, April 22nd. Investors of record on Friday, May 15th will be given a dividend of 0.25 per share on Friday, May 29th. This represents a c) annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, May 15th. This is a 66.7% increase from Origin Bancorp’s previous quarterly dividend of $0.15.

Origin Bancorp has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 4 years. Origin Bancorp has a payout ratio of 28.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Origin Bancorp to earn $4.33 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 23.1%.

Origin Bancorp Price Performance

OBK opened at $46.39 on Wednesday. The company’s 50 day simple moving average is $43.37 and its 200 day simple moving average is $40.51. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.97 and a current ratio of 0.97. Origin Bancorp has a 1 year low of $32.13 and a 1 year high of $48.12. The stock has a market capitalization of $1.43 billion, a PE ratio of 17.98 and a beta of 0.73.

Origin Bancorp (NYSE:OBK) last released its earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.01). Origin Bancorp had a return on equity of 6.53% and a net margin of 13.46%.The company had revenue of $104.04 million during the quarter. As a group, sell-side analysts expect that Origin Bancorp will post 4.01 EPS for the current year.

Analysts Set New Price Targets

OBK has been the topic of a number of analyst reports. Stephens lifted their price objective on shares of Origin Bancorp from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Keefe, Bruyette & Woods lifted their price target on shares of Origin Bancorp from $43.00 to $48.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd. Zacks Research upgraded shares of Origin Bancorp from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. DA Davidson set a $49.00 price objective on shares of Origin Bancorp in a report on Friday, January 30th. Finally, Weiss Ratings raised shares of Origin Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Origin Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.50.

Origin Bancorp Company Profile

Origin Bancorp, Inc (NYSE: OBK) is a bank holding company based in Atlanta, Georgia, and is the parent of Origin Bank, a full-service commercial banking franchise. The company provides a broad range of financial products and services to individuals, small and middle-market businesses, and institutional clients across the southeastern United States.

Through Origin Bank, the company offers a variety of deposit products, including checking and savings accounts, money market accounts, and certificates of deposit.