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

Origin Bancorp, Inc. (NASDAQ:OBK)’s share price traded up 4.8% on Thursday after the company announced a dividend. The company traded as high as $36.64 and last traded at $37.04. 18,012 shares traded hands during 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 annualized dividend and a dividend yield of 1.62%. Origin Bancorp’s payout ratio is presently 24.69%.

Analysts Set New Price Targets

Several research analysts recently weighed in on OBK shares. DA Davidson lowered their price objective on Origin Bancorp from $41.00 to $38.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Stephens increased their price target on Origin Bancorp from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Raymond James upgraded shares of Origin Bancorp from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods lifted their price objective on Origin Bancorp from $37.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. One 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $36.80.

Origin Bancorp Trading Up 4.7 %

The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 0.97. The company’s 50-day moving average price is $34.44 and its 200-day moving average price is $33.22. The firm has a market capitalization of $1.15 billion, a PE ratio of 15.25 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 earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 7.36% and a net margin of 12.12%. During the same period in the prior year, the company posted $0.71 earnings per share. On average, sell-side analysts expect that Origin Bancorp, Inc. will post 2.43 earnings per share for the current year.

Institutional Inflows and Outflows

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

About Origin Bancorp

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.