RUSTON, La. - Origin Bancorp, Inc. (NYSE:OBK), the parent company of Origin Bank, has announced the declaration of a quarterly cash dividend of $0.15 per share. This dividend is payable on November 29, 2024, to shareholders of record as of November 15, 2024.
Origin Bancorp, Inc., established in 1912, is a financial holding company with a history of providing personalized banking services to businesses, municipalities, and individual clients. With over 60 locations across several states, including Texas, Louisiana, Mississippi, Alabama, and Florida, the company offers a diverse array of financial services.
The announcement of the dividend follows the company's business practices and commitment to shareholder returns. Dividends are a way for companies to distribute a portion of their earnings back to shareholders, and they can be an indicator of a company's financial health and stability.
The forward-looking statements included in the company's press release outline potential risks and uncertainties that could affect the actual results, including economic conditions, regulatory changes, interest rate fluctuations, lending and investment activities, real estate market conditions, competition, and changes in business strategies. These statements are made in accordance with the Private Securities Litigation Reform Act of 1995 and are subject to change.
Investors and shareholders are reminded that such forward-looking statements do not guarantee future performance, and the company expressly disclaims any obligation to update or revise these statements based on future events or new information.
This news article is based on a press release statement from Origin Bancorp, Inc. and does not contain any opinion or endorsement of the company's strategies or financial products. The information provided is intended to give a factual update on the company's recent dividend declaration.
In other recent news, Origin Bancorp has been the subject of increased attention from analysts. DA Davidson raised the price target from $38.00 to $41.00, maintaining a Buy rating. This adjustment follows Origin Bancorp's recent financial performance, which was impacted by an incident involving a terminated banker, leading to an increase in non-performing loans and a reduction in net interest margin. Despite these challenges, DA Davidson revised its earnings per share estimates upward due to a higher guide for operating expenses.
Keefe, Bruyette & Woods also raised their price target for Origin Bancorp to $39.00, maintaining an Outperform rating. The firm revised its earnings estimates for the years 2024 and 2025 to $2.61 and $2.69 respectively, reflecting the bank's robust core credit trends despite the impact of the aforementioned banker's activity.
Origin Bancorp's second-quarter 2024 earnings report showed that the company met EPS expectations and demonstrated strategic growth in its loan portfolio. The company faced challenges, including a policy violation by a former banker and seasonal declines in non-interest income, but remains optimistic about future expansion and profitability. These recent developments underscore Origin Bancorp's ongoing commitment to growth and its resilience in the face of challenges.
InvestingPro Insights
Origin Bancorp's recent dividend declaration aligns with its track record of shareholder returns. According to InvestingPro Tips, the company has raised its dividend for 6 consecutive years, demonstrating a consistent commitment to returning value to shareholders. This information adds context to the announced $0.15 per share quarterly dividend.
The company's financial health appears solid, with InvestingPro Data showing a P/E ratio of 12.26 and a Price to Book ratio of 0.91 as of the last twelve months ending Q2 2024. These metrics suggest that Origin Bancorp's stock may be reasonably valued relative to its earnings and book value.
Furthermore, Origin Bancorp's profitability is highlighted by an Operating Income Margin of 34.51% for the same period. This robust margin indicates the company's efficiency in managing its operations, which is crucial for maintaining and potentially growing its dividend payments.
InvestingPro Tips also reveal that analysts predict the company will be profitable this year, which bodes well for its ability to sustain dividend payments. Additionally, two analysts have revised their earnings upwards for the upcoming period, suggesting positive expectations for Origin Bancorp's financial performance.
For investors seeking more comprehensive analysis, InvestingPro offers 13 additional tips for Origin Bancorp, providing a deeper understanding of the company's financial position and prospects.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.