Empowered Funds LLC purchased a new stake in Origin Bancorp, Inc. (NYSE:OBK – Free Report) during the 2nd quarter, Holdings Channel reports. The firm purchased 144,011 shares of the company’s stock, valued at approximately $7,366,000.
A number of other large investors also recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Origin Bancorp in the second quarter valued at about $132,196,000. Vanguard Group Inc. boosted its position in Origin Bancorp by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 1,753,530 shares of the company’s stock valued at $65,950,000 after purchasing an additional 37,050 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Origin Bancorp by 3.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,425,220 shares of the company’s stock valued at $59,089,000 after purchasing an additional 49,001 shares during the last quarter. State Street Corp grew its stake in Origin Bancorp by 1.2% in the fourth quarter. State Street Corp now owns 923,148 shares of the company’s stock valued at $34,720,000 after purchasing an additional 10,741 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Origin Bancorp by 17.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 797,576 shares of the company’s stock valued at $29,997,000 after purchasing an additional 116,410 shares in the last quarter. 54.68% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms recently weighed in on OBK. Raymond James Financial reissued an “outperform” rating on shares of Origin Bancorp in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods upped their price target on shares of Origin Bancorp from $57.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 4th. Weiss Ratings raised shares of Origin Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 21st. DA Davidson lifted their price objective on shares of Origin Bancorp from $53.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Finally, Piper Sandler boosted their price objective on shares of Origin Bancorp from $55.00 to $56.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Origin Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $58.00.
Origin Bancorp Stock Up 0.2%
OBK opened at $53.34 on Monday. Origin Bancorp, Inc. has a 1-year low of $32.13 and a 1-year high of $55.57. The stock’s fifty day simple moving average is $52.67 and its 200 day simple moving average is $47.52. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.65 billion, a PE ratio of 16.67 and a beta of 0.72.
Origin Bancorp (NYSE:OBK – Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. Origin Bancorp had a net margin of 16.26% and a return on equity of 7.97%. The firm had revenue of $107.59 million during the quarter. As a group, research analysts expect that Origin Bancorp, Inc. will post 4.13 earnings per share for the current year.
Origin Bancorp Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, August 14th. Origin Bancorp’s dividend payout ratio (DPR) is currently 31.25%.
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.
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