Origin Bancorp, Inc. (NYSE:OBK) to Issue Quarterly Dividend of $0.25

Origin Bancorp, Inc. (NYSE:OBK) announced a quarterly dividend on Wednesday, April 22nd. Stockholders of record on Friday, May 15th will be paid 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 of this dividend 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 by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 4 years. Origin Bancorp has a dividend payout ratio of 17.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Origin Bancorp to earn $4.25 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 14.1%.

Origin Bancorp Stock Performance

Shares of Origin Bancorp stock opened at $44.73 on Thursday. The company has a market cap of $1.39 billion, a PE ratio of 18.64 and a beta of 0.68. Origin Bancorp has a 52 week low of $29.98 and a 52 week high of $46.64. The business has a 50 day moving average price of $42.51 and a 200-day moving average price of $39.38. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.03.

Origin Bancorp (NYSE:OBK) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.01). The company had revenue of $104.04 million during the quarter. Origin Bancorp had a return on equity of 6.21% and a net margin of 12.58%. Equities analysts anticipate that Origin Bancorp will post 3.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on OBK. Weiss Ratings raised Origin Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Zacks Research raised Origin Bancorp from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. Keefe, Bruyette & Woods increased their price objective on Origin Bancorp from $43.00 to $48.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd. Finally, DA Davidson set a $49.00 price objective on Origin Bancorp in a research note on Friday, January 30th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $46.67.

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.