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

Origin Bancorp, Inc. (NASDAQ:OBK)’s stock price was up 4.8% on Thursday following a dividend announcement from the company. The company traded as high as $36.64 and last traded at $37.04. Approximately 18,012 shares were traded 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. Stockholders of record on Friday, February 14th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.62%. Origin Bancorp’s payout ratio is 24.69%.

Analysts Set New Price Targets

OBK has been the topic of several recent research reports. Raymond James upgraded Origin Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th. 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. DA Davidson reduced 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, 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. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $36.80.

Origin Bancorp Stock Up 4.7 %

The firm has a market capitalization of $1.15 billion, a PE ratio of 15.25 and a beta of 1.00. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average of $34.44 and a two-hundred day moving average of $33.22.

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

Institutional Investors Weigh In On Origin Bancorp

Several institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in Origin Bancorp during the 3rd quarter worth approximately $30,000. Brooklyn Investment Group acquired a new position in shares of Origin Bancorp during the fourth quarter worth $48,000. Quantbot Technologies LP boosted its stake in shares of Origin Bancorp by 78.1% in the third quarter. Quantbot Technologies LP now owns 2,706 shares of the company’s stock valued at $87,000 after purchasing an additional 1,187 shares during the period. SG Americas Securities LLC acquired a new stake in Origin Bancorp during the 3rd quarter valued at $160,000. Finally, Janney Montgomery Scott LLC purchased a new stake in Origin Bancorp during the 4th quarter worth $219,000. 54.68% of the stock is currently owned by hedge funds and other institutional investors.

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.