Empowered Funds LLC Makes New $7.37 Million Investment in Origin Bancorp, Inc. $OBK

Key Points

• Empowered Funds LLC initiated a $7.37 million position in Origin Bancorp, purchasing 144,011 shares, while institutional investors collectively own 54.68% of the company.
• Analyst sentiment remains favorable: five analysts rate the stock a Buy and two rate it a Hold, producing a “Moderate Buy” consensus and an average price target of $58.
• Origin Bancorp’s shares recently traded at $53 after quarterly earnings of $1.09 per share exceeded estimates, and the company declared a quarterly dividend of $0.25 per share, yielding approximately 1.9%.

Empowered Funds LLC bought a new position in Origin Bancorp, Inc. (NYSE:OBK - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 144,011 shares of the company's stock, valued at approximately $7,366,000. Empowered Funds LLC owned about 0.47% of Origin Bancorp at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. purchased a new position in shares of Origin Bancorp during the 2nd quarter worth $132,196,000. Vanguard Group Inc. lifted its stake in Origin Bancorp by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 1,753,530 shares of the company's stock worth $65,950,000 after acquiring an additional 37,050 shares during the period. Dimensional Fund Advisors LP boosted its position in Origin Bancorp by 3.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,425,220 shares of the company's stock valued at $59,089,000 after acquiring an additional 49,001 shares in the last quarter. State Street Corp raised its stake in shares of Origin Bancorp by 1.2% during the 4th quarter. State Street Corp now owns 923,148 shares of the company's stock worth $34,720,000 after acquiring an additional 10,741 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised 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 buying an additional 116,410 shares during the last quarter. 54.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on OBK. Raymond James Financial restated an "outperform" rating on shares of Origin Bancorp in a research report on Thursday, July 23rd. Piper Sandler lifted their price target on shares of Origin Bancorp from $55.00 to $56.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Weiss Ratings raised Origin Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, August 21st. DA Davidson increased their target price on Origin Bancorp from $53.00 to $62.00 and gave the company a "buy" rating in a report on Friday, July 24th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Origin Bancorp from $57.00 to $60.00 and gave the company an "outperform" rating in a research report on Tuesday, August 4th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $58.00.

Origin Bancorp Stock Down 0.5%

Shares of NYSE OBK traded down $0.25 during mid-day trading on Monday, reaching $53.00. 59,524 shares of the company traded hands, compared to its average volume of 185,454. Origin Bancorp, Inc. has a fifty-two week low of $32.13 and a fifty-two week high of $55.57. The stock has a market cap of $1.64 billion, a PE ratio of 16.56 and a beta of 0.72. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.98 and a current ratio of 0.98. The company's fifty day moving average is $52.67 and its two-hundred day moving average is $47.52.

Origin Bancorp (NYSE:OBK - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.09. Origin Bancorp had a return on equity of 7.97% and a net margin of 16.26%.The firm had revenue of $107.59 million for the quarter. On average, analysts expect that Origin Bancorp, Inc. will post 4.13 earnings per share for the current year.

Origin Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be given 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 of this dividend is Friday, August 14th. Origin Bancorp's dividend payout ratio (DPR) is currently 31.25%.

About Origin Bancorp

Origin Bancorp, Inc NYSE: OBK is a bank holding company based in Ruston, Louisiana, 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.