Origin Bancorp Inc (NASDAQ:OBNK) declared a quarterly dividend on Wednesday, January 22nd, Zacks reports. Shareholders of record on Friday, February 14th will be given a dividend of 0.093 per share on Friday, February 28th. This represents a $0.37 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Thursday, February 13th.
Origin Bancorp has a dividend payout ratio of 15.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Origin Bancorp to earn $2.65 per share next year, which means the company should continue to be able to cover its $0.37 annual dividend with an expected future payout ratio of 14.0%.
OBNK traded down $0.19 during midday trading on Friday, reaching $35.40. The company had a trading volume of 3,263 shares, compared to its average volume of 31,927. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.06. The stock has a market cap of $851.45 million, a PE ratio of 15.46 and a beta of 0.51. Origin Bancorp has a 12-month low of $30.85 and a 12-month high of $38.14. The business has a 50-day moving average price of $37.01 and a two-hundred day moving average price of $34.65.
A number of research firms have weighed in on OBNK. Stephens reiterated an “overweight” rating and issued a $39.00 target price (down from $40.00) on shares of Origin Bancorp in a research note on Friday. Zacks Investment Research upgraded shares of Origin Bancorp from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research note on Saturday, January 11th. Finally, DA Davidson initiated coverage on shares of Origin Bancorp in a research note on Thursday, December 12th. They issued a “buy” rating and a $41.50 target price on the stock.
In other news, insider Cary Stephen Davis sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $36.75, for a total value of $367,500.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 7.30% of the company’s stock.
About Origin Bancorp
Origin Bancorp, Inc operates as the holding company for Origin Bank that provides banking and financial services to small and medium-sized businesses, municipalities, high net worth individuals, and retail clients in Louisiana, Texas, and Mississippi. It accepts noninterest and interest-bearing checking accounts, savings deposits, money market accounts, and time deposits; and offers single and multi-family real estate, residential construction, commercial building, and consumer loans, as well as loans to small and medium-sized businesses.
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