Origin Bancorp (NYSE:OBK) Releases Earnings Results, Misses Expectations By $0.01 EPS

Origin Bancorp (NYSE:OBK) released its quarterly earnings data on Wednesday. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.01), FiscalAI reports. The firm had revenue of $104.04 million during the quarter. Origin Bancorp had a net margin of 13.46% and a return on equity of 6.58%.

Origin Bancorp Price Performance

OBK stock opened at $46.49 on Friday. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 18.02 and a beta of 0.68. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.03. Origin Bancorp has a 52-week low of $29.98 and a 52-week high of $46.64. The stock’s fifty day simple moving average is $42.57 and its 200-day simple moving average is $39.43.

Origin Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.2%. This is a positive change from Origin Bancorp’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, May 15th. Origin Bancorp’s payout ratio is 25.00%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Zacks Research raised Origin Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. Weiss Ratings raised Origin Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. DA Davidson set a $49.00 price objective on shares of Origin Bancorp in a research report on Friday, January 30th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Origin Bancorp from $43.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Origin Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $46.67.

Hedge Funds Weigh In On Origin Bancorp

Several large investors have recently added to or reduced their stakes in OBK. AQR Capital Management LLC grew its holdings in Origin Bancorp by 50.5% in the 1st 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Origin Bancorp by 4.6% during the 1st 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 period. Goldman Sachs Group Inc. lifted its holdings in shares of Origin Bancorp by 3.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 653,589 shares of the company’s stock worth $22,660,000 after acquiring an additional 20,146 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Origin Bancorp by 49.9% in 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 acquiring an additional 23,906 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in shares of Origin Bancorp by 97.9% in the first quarter. Jane Street Group LLC now owns 117,954 shares of the company’s stock worth $4,089,000 after acquiring an additional 58,340 shares during the last quarter. 54.68% of the stock is currently owned by hedge funds and other institutional investors.

Origin Bancorp Company Profile

Origin Bancorp, Inc (NYSE: OBK) is a bank holding company based in Atlanta, Georgia, and is the parent of Origin Bank, a full-service commercial banking franchise. The company provides a broad range of financial products and services to individuals, small and middle-market businesses, and institutional clients across the southeastern United States.

Through Origin Bank, the company offers a variety of deposit products, including checking and savings accounts, money market accounts, and certificates of deposit.