Origin Bancorp (NASDAQ:OBK) Stock Price Up 4.8% Following Dividend Announcement

Origin Bancorp, Inc. (NASDAQ:OBK) rose 4.8% during mid-day trading on Thursday following a dividend announcement from the company. The stock traded as high as $36.64 and last traded at $37.04. Approximately 18,012 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 127,608 shares. The stock had previously closed at $35.36.

The newly announced dividend which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Friday, February 14th. Origin Bancorp’s dividend payout ratio (DPR) is 24.69%.

Analysts Set New Price Targets

OBK has been the subject of several recent analyst reports. DA Davidson reduced their price objective on shares of Origin Bancorp from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Raymond James upgraded shares of Origin Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods raised their target price on shares of Origin Bancorp from $37.00 to $42.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Stephens restated an “overweight” rating and set a $42.00 target price on shares of Origin Bancorp in a report on Thursday. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Origin Bancorp presently has a consensus rating of “Buy” and an average target price of $37.60.

Origin Bancorp Trading Up 4.9 %

The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 15.26 and a beta of 1.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.97 and a quick ratio of 0.97. The business’s 50-day simple moving average is $34.44 and its two-hundred day simple moving average is $33.22.

Origin Bancorp (NASDAQ:OBK) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). The business had revenue of $160.25 million for the quarter, compared to analyst estimates of $93.40 million. Origin Bancorp had a net margin of 12.12% and a return on equity of 7.36%. During the same period last year, the firm earned $0.71 earnings per share. On average, research analysts anticipate that Origin Bancorp, Inc. will post 2.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. lifted its position in shares of Origin Bancorp by 19.6% during the second quarter. Envestnet Asset Management Inc. now owns 60,044 shares of the company’s stock worth $1,905,000 after purchasing an additional 9,851 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Origin Bancorp by 11.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,023,197 shares of the company’s stock worth $32,454,000 after purchasing an additional 102,159 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of Origin Bancorp by 20.2% during the second quarter. Hsbc Holdings PLC now owns 16,007 shares of the company’s stock worth $503,000 after purchasing an additional 2,692 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of Origin Bancorp by 120.1% during the second quarter. Cubist Systematic Strategies LLC now owns 25,650 shares of the company’s stock worth $814,000 after purchasing an additional 13,996 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Origin Bancorp by 72.7% during the second quarter. AQR Capital Management LLC now owns 22,392 shares of the company’s stock worth $710,000 after purchasing an additional 9,425 shares in the last quarter. 54.68% of the stock is owned by institutional investors and hedge funds.

Origin Bancorp Company Profile

Origin Bancorp, Inc operates as a bank holding company for Origin Bank that provides banking and financial services to small and medium-sized businesses, municipalities, and retail clients in Texas, Louisiana, and Mississippi. It offers noninterest and interest-bearing checking accounts, savings deposits, money market accounts, and time deposits; and offers commercial real estate, construction and land development, consumer, residential real estate, commercial and industrial, mortgage warehouse, and residential mortgage loans.