Origin Bancorp, Inc. Declares 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 paid a dividend of 0.15 per share on Friday, August 29th. This represents a $0.60 annualized dividend and a yield of 1.58%. The ex-dividend date is Friday, August 15th.

Origin Bancorp has a dividend payout ratio of 17.3% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Up 1.6%

Origin Bancorp stock traded up $0.60 during midday trading on Monday, reaching $38.07. The company's stock had a trading volume of 118,808 shares, compared to its average volume of 151,436. The stock's 50-day simple moving average is $35.68 and its 200-day simple moving average is $35.27. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $1.19 billion, a P/E ratio of 15.48 and a beta of 0.83. Origin Bancorp has a 52-week low of $28.80 and a 52-week high of $41.17.

Wall Street Analysts Forecast Growth

OBK has been the topic of a number of recent research reports. Raymond James Financial lowered 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 note on Wednesday, April 2nd. Keefe, Bruyette & Woods boosted their price objective on Origin Bancorp from $41.00 to $45.00 and gave the company an "outperform" rating in a report on Monday. DA Davidson upped their price target on Origin Bancorp from $41.00 to $45.00 and gave the stock a "buy" rating in a report on Monday. Finally, Piper Sandler raised Origin Bancorp from a "neutral" rating to an "overweight" rating in a research report on Thursday, April 24th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $43.20.

Hedge Funds Weigh In On Origin Bancorp

Hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its stake in Origin Bancorp by 3.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 653,589 shares of the company's stock valued at $22,660,000 after purchasing an additional 20,146 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of Origin Bancorp by 97.9% during 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Origin Bancorp by 49.9% during 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 last quarter. AQR Capital Management LLC grew its stake in shares of Origin Bancorp by 50.5% in the first quarter. AQR Capital Management LLC now owns 39,056 shares of the company's stock valued at $1,354,000 after buying an additional 13,107 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Origin Bancorp by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,460 shares of the company's stock worth $605,000 after acquiring an additional 775 shares during the last quarter. 54.68% of the stock is owned by hedge funds and other institutional investors.

Origin Bancorp Company Profile

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.