Origin Bancorp, Inc. (OBK) to Issue Quarterly Dividend of $0.15 on May 30th

Origin Bancorp, Inc. (NASDAQ:OBK) declared a quarterly dividend on Wednesday, April 23rd, RTT News reports. Investors of record on Thursday, May 15th will be paid a dividend of 0.15 per share on Friday, May 30th. This represents a $0.60 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Thursday, May 15th.

Origin Bancorp has increased its dividend by an average of 7.0% annually over the last three years. Origin Bancorp has a payout ratio of 17.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Origin Bancorp to earn $3.26 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 18.4%.

Origin Bancorp Price Performance

NASDAQ OBK opened at $33.97 on Tuesday. The company has a 50-day moving average price of $32.92 and a two-hundred day moving average price of $34.74. Origin Bancorp has a 52 week low of $28.80 and a 52 week high of $41.17. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 13.81 and a beta of 0.79. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17.

Analyst Upgrades and Downgrades

OBK has been the topic of a number of recent analyst reports. DA Davidson lifted their price objective on shares of Origin Bancorp from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Raymond James cut shares of Origin Bancorp from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the stock from $44.00 to $39.00 in a research report on Wednesday, April 2nd. Piper Sandler raised Origin Bancorp from a “neutral” rating to an “overweight” rating in a research report on Thursday, April 24th. Keefe, Bruyette & Woods reduced their price target on Origin Bancorp from $44.00 to $41.00 and set an “outperform” rating for the company in a report on Monday, April 28th. Finally, Stephens restated an “overweight” rating and issued a $45.00 price objective on shares of Origin Bancorp in a report on Thursday, March 20th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Origin Bancorp presently has an average rating of “Buy” and a consensus price target of $42.20.

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.