Origin Bancorp (NASDAQ:OBK) Trading Up 4.8% After Dividend Announcement

Origin Bancorp, Inc. (NASDAQ:OBK)’s share price shot up 4.8% during trading on Thursday following a dividend announcement from the company. The stock traded as high as $36.64 and last traded at $37.04. 18,012 shares traded hands during mid-day trading, a decline of 86% from the average session 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. Stockholders of record on Friday, February 14th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Friday, February 14th. Origin Bancorp’s payout ratio is presently 24.39%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on OBK. Keefe, Bruyette & Woods raised their price objective on Origin Bancorp from $37.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler boosted their price target on Origin Bancorp from $35.00 to $42.00 and gave the stock a “neutral” rating in a research note on Friday. Stephens reaffirmed an “overweight” rating and issued a $42.00 price objective on shares of Origin Bancorp in a research report on Thursday. DA Davidson lowered their target price 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. Finally, Raymond James restated a “strong-buy” rating and set a $44.00 price target (up previously from $40.00) on shares of Origin Bancorp in a research note on Friday. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $41.60.

Origin Bancorp Trading Up 1.8 %

The stock has a 50-day moving average of $34.48 and a 200 day moving average of $33.25. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.18 billion, a PE ratio of 15.34 and a beta of 1.00.

Origin Bancorp (NASDAQ:OBK) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.06). Origin Bancorp had a net margin of 12.34% and a return on equity of 6.91%. The business had revenue of $160.25 million during the quarter, compared to analysts’ expectations of $93.40 million. During the same period last year, the company earned $0.71 earnings per share. As a group, sell-side analysts anticipate that Origin Bancorp, Inc. will post 2.43 earnings per share for the current year.

Hedge Funds Weigh In On Origin Bancorp

A number of institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its holdings in Origin Bancorp by 5.5% during the second quarter. The Manufacturers Life Insurance Company now owns 11,419 shares of the company’s stock worth $362,000 after buying an additional 599 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Origin Bancorp by 1.5% during the 3rd quarter. Fisher Asset Management LLC now owns 40,329 shares of the company’s stock worth $1,297,000 after acquiring an additional 612 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Origin Bancorp during the 3rd quarter worth about $30,000. Harbor Capital Advisors Inc. increased its stake in shares of Origin Bancorp by 12.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 8,889 shares of the company’s stock valued at $286,000 after purchasing an additional 977 shares in the last quarter. Finally, Natixis Advisors LLC raised its holdings in Origin Bancorp by 10.2% in the 3rd quarter. Natixis Advisors LLC now owns 11,024 shares of the company’s stock worth $355,000 after purchasing an additional 1,017 shares during the period. Hedge funds and other institutional investors own 54.68% of the company’s stock.

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.