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Origin Bancorp, Inc. (NASDAQ:OBNK) plans dividend increase – $0.15 per share

Origin Bancorp, Inc. (NASDAQ:OBNK – Get Rating) declared a quarterly dividend on Wednesday, April 27, Zacks reports. Shareholders of record on Tuesday May 17 will receive a dividend of 0.15 per share on Tuesday May 31. This represents an annualized dividend of $0.60 and a yield of 1.53%. The ex-date of this dividend is Monday, May 16. This is a positive change from Origin Bancorp’s previous quarterly dividend of $0.13.

Origin Bancorp has increased its dividend by an average of 71.3% per year over the past three years and has increased its dividend every year for the past 3 years. Origin Bancorp has a dividend payout ratio of 12.2%, indicating that its dividend is sufficiently covered by earnings. Equity research analysts expect Origin Bancorp to earn $4.21 per share next year, meaning the company should continue to be able to cover its $0.52 annual dividend. with an expected future payout ratio of 12.4%.

NASDAQ OBNK opened at $39.30 on Friday. The company has a debt ratio of 0.64, a current ratio of 0.91 and a quick ratio of 0.90. Origin Bancorp has a 1-year minimum of $37.67 and a 1-year maximum of $47.58. The company has a market capitalization of $933.34 million, a PE ratio of 8.56 and a beta of 0.99. The company has a fifty-day moving average of $42.66 and a two-hundred-day moving average of $43.42.

Origin Bancorp Inc (NASDAQ:OBNK – Get Rating) last released quarterly earnings data on Wednesday, April 27. The company reported earnings per share (EPS) of $0.87 for the quarter, beating the consensus estimate of $0.86 by $0.01. Origin Bancorp had a net margin of 35.72% and a return on equity of 15.62%. In the same period a year earlier, the company earned earnings per share of $1.08. On average, research analysts expect Origin Bancorp to post earnings per share of 3.4 for the current year.

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Hedge funds and other institutional investors have recently been buying and selling stocks. Royal Bank of Canada increased its stake in Origin Bancorp by 68.8% during the third quarter. Royal Bank of Canada now owns 2,556 shares of the company worth $109,000 after buying 1,042 more shares last quarter. The Canada Pension Plan Investment Board acquired a new position in Origin Bancorp during the fourth quarter worth approximately $172,000. Cubist Systematic Strategies LLC acquired a new position in Origin Bancorp during the fourth quarter worth approximately $216,000. BNP Paribas Arbitrage SA increased its position in Origin Bancorp by 164.1% during the third quarter. BNP Paribas Arbitrage SA now owns 5,831 shares in the company worth $247,000 after purchasing an additional 3,623 shares during the period. Finally, Citigroup Inc. increased its position in Origin Bancorp by 43.9% during the fourth quarter. Citigroup Inc. now owns 8,834 shares of the company worth $379,000 after purchasing an additional 2,697 shares during the period. 54.73% of the shares are held by hedge funds and other institutional investors.

Separately, Zacks Investment Research upgraded Origin Bancorp shares from a “buy” to a “hold” rating in a Wednesday, March 2 report.

About Origin Bancorp (Get a rating)

Origin Bancorp, Inc operates as a bank holding company for Origin Bank which provides banking and financial services to small and medium-sized businesses, municipalities, high net worth individuals and retail customers in Texas, Louisiana and Mississippi. It offers interest-free and interest-bearing checking accounts, savings deposits, money market accounts, and term deposits; and offers commercial real estate, construction and land development, consumer goods, residential, commercial and industrial real estate loans, warehouse mortgages, residential mortgages and paycheck protection programs.

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Dividend history for Origin Bancorp (NASDAQ:OBNK)

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