Origin Bancorp Inc (OBNK) to Issue Quarterly Dividend of $0.03 on December 31st
Origin Bancorp Inc (NASDAQ:OBNK) declared a quarterly dividend on Friday, November 30th, Wall Street Journal reports. Investors of record on Friday, December 14th will be paid a dividend of 0.0325 per share on Monday, December 31st. This represents a $0.13 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date is Thursday, December 13th.
Origin Bancorp has a payout ratio of 6.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Origin Bancorp to earn $2.53 per share next year, which means the company should continue to be able to cover its $0.13 annual dividend with an expected future payout ratio of 5.1%.
Shares of NASDAQ OBNK opened at $35.36 on Friday. Origin Bancorp has a one year low of $27.41 and a one year high of $42.31. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.69.
A number of brokerages have commented on OBNK. Zacks Investment Research upgraded Origin Bancorp from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Wednesday, September 12th. Raymond James decreased their price objective on Origin Bancorp from $46.00 to $42.00 and set a “strong-buy” rating for the company in a research report on Friday, October 26th. Finally, Stephens restated a “buy” rating and set a $44.00 price objective on shares of Origin Bancorp in a research report on Thursday, October 25th.
Origin Bancorp Company Profile
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 offers accepts noninterest and interest-bearing checking accounts, savings deposits, money market accounts, and time deposits; and grants single and multi-family real estate, residential construction, and commercial building loans, as well as loans to small and medium-sized businesses, and consumers.
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