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

Origin Bancorp, Inc. (NASDAQ:OBK - Get Free Report) declared a quarterly dividend on Thursday, July 24th, Wall Street Journal reports. Shareholders of record on Friday, August 15th will be given a dividend of 0.15 per share on Friday, August 29th. This represents a $0.60 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Friday, August 15th.

Origin Bancorp has a payout ratio of 17.3% indicating that its dividend is sufficiently covered by earnings. 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 Trading Down 0.0%

Shares of OBK traded down $0.00 during mid-day trading on Thursday, hitting $37.66. The company had a trading volume of 238,550 shares, compared to its average volume of 151,807. The business's 50-day simple moving average is $35.54 and its 200-day simple moving average is $35.18. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.17. Origin Bancorp has a 1-year low of $28.80 and a 1-year high of $41.17. The stock has a market cap of $1.17 billion, a PE ratio of 15.31 and a beta of 0.83.

Institutional Trading of Origin Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in OBK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Origin Bancorp by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,460 shares of the company's stock worth $605,000 after purchasing an additional 775 shares during the period. AQR Capital Management LLC increased its position in Origin Bancorp by 50.5% in the first quarter. AQR Capital Management LLC now owns 39,056 shares of the company's stock worth $1,354,000 after purchasing an additional 13,107 shares during the period. Goldman Sachs Group Inc. increased its position in Origin Bancorp by 3.2% in the first quarter. Goldman Sachs Group Inc. now owns 653,589 shares of the company's stock worth $22,660,000 after purchasing an additional 20,146 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Origin Bancorp by 49.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,849 shares of the company's stock worth $2,491,000 after purchasing an additional 23,906 shares during the period. Finally, Jane Street Group LLC increased its position in Origin Bancorp by 97.9% in the first quarter. Jane Street Group LLC now owns 117,954 shares of the company's stock worth $4,089,000 after purchasing an additional 58,340 shares during the period. 54.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on OBK shares. Raymond James Financial lowered shares of Origin Bancorp from a "strong-buy" rating to an "outperform" rating and lowered their price target for the stock from $44.00 to $39.00 in a research report on Wednesday, April 2nd. Piper Sandler raised shares of Origin Bancorp from a "neutral" rating to an "overweight" rating in a report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Origin Bancorp from $44.00 to $41.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average 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.

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