Origin Bancorp, Inc. (NYSE:OBK) Shareholders Set to Receive $0.28 Quarterly Dividend

Key Points

• Origin Bancorp declared a quarterly dividend of $0.28 per share, payable November 30 to shareholders of record November 13. The dividend implies a $1.12 annualized payout and a 2.2% yield.
• The dividend appears well covered, with a current payout ratio of 28.9%; analysts expect earnings of $4.46 per share next year, implying a projected payout ratio of 22.4%.
• Analysts maintain a generally positive outlook, with five Buy and three Hold ratings and an average price target of $58, compared with shares opening at $51.22.

Origin Bancorp, Inc. (NYSE:OBK - Get Free Report) declared a quarterly dividend on Wednesday, October 28th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.28 per share on Monday, November 30th. This represents a $1.12 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, November 13th.

Origin Bancorp has increased its dividend payment by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Origin Bancorp has a payout ratio of 28.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Origin Bancorp to earn $4.46 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 22.4%.

Origin Bancorp Trading Down 1.1%

Shares of NYSE:OBK opened at $51.22 on Thursday. Origin Bancorp has a 12-month low of $32.28 and a 12-month high of $55.57. The stock has a market cap of $1.58 billion, a PE ratio of 16.01 and a beta of 0.74. The business has a 50 day moving average of $52.88 and a 200-day moving average of $48.08. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.12.

Origin Bancorp (NYSE:OBK - Get Free Report) last announced its earnings results on Wednesday, October 28th. The company reported $1.22 earnings per share for the quarter. Origin Bancorp had a return on equity of 7.97% and a net margin of 16.26%. The company had revenue of $113.22 million for the quarter. As a group, equities research analysts forecast that Origin Bancorp will post 4.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

OBK has been the subject of a number of research reports. DA Davidson lifted their target price on Origin Bancorp from $53.00 to $62.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Raymond James Financial upped their price target on shares of Origin Bancorp from $56.00 to $58.00 and gave the company an "outperform" rating in a research note on Friday, October 2nd. Keefe, Bruyette & Woods raised their price target on shares of Origin Bancorp from $57.00 to $60.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 4th. Piper Sandler lifted their price objective on shares of Origin Bancorp from $55.00 to $56.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Finally, Weiss Ratings raised shares of Origin Bancorp from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, October 8th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Origin Bancorp currently has an average rating of "Moderate Buy" and an average price target of $58.00.

Origin Bancorp Company Profile

Origin Bancorp, Inc is a regional bank holding company headquartered in Ruston, Louisiana. Through its primary subsidiary, Origin Bank, the company provides banking and financial services to businesses, individuals and communities.

Origin Bank offers commercial and small-business lending, consumer loans, residential mortgage lending, deposit accounts, treasury management, cash-management services and wealth-related solutions. Its commercial banking activities include financing for operating needs, real estate and other business purposes, while its consumer offerings include personal deposits and lending products.

The bank serves customers through banking locations and digital channels across Louisiana, Texas and Mississippi.

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