370,832 Shares in Origin Bancorp, Inc. $OBK Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 370,832 Origin Bancorp shares worth approximately $18.97 million, giving it a 1.20% stake. Institutional investors collectively own 54.68% of the company.
• Analysts remain broadly positive, with five Buy ratings and two Holds; the stock has an average “Moderate Buy” rating and a consensus price target of $58.
• Origin Bancorp exceeded quarterly earnings expectations, reporting $1.09 EPS versus the $1.00 consensus estimate, and paid a $0.25 quarterly dividend, equivalent to a 1.9% yield.

Bank of New York Mellon Corp acquired a new position in Origin Bancorp, Inc. (NYSE:OBK - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 370,832 shares of the company's stock, valued at approximately $18,968,000. Bank of New York Mellon Corp owned approximately 1.20% of Origin Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Origin Bancorp by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 1,753,530 shares of the company's stock worth $65,950,000 after purchasing an additional 37,050 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Origin Bancorp by 3.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,425,220 shares of the company's stock valued at $59,089,000 after purchasing an additional 49,001 shares in the last quarter. State Street Corp increased its holdings in shares of Origin Bancorp by 1.2% in the 4th quarter. State Street Corp now owns 923,148 shares of the company's stock valued at $34,720,000 after purchasing an additional 10,741 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of 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 purchasing an additional 116,410 shares during the period. Finally, Kennedy Capital Management LLC lifted its stake in shares of Origin Bancorp by 13.5% in the fourth quarter. Kennedy Capital Management LLC now owns 706,235 shares of the company's stock valued at $26,561,000 after purchasing an additional 83,971 shares during the period. Institutional investors and hedge funds own 54.68% of the company's stock.

Analyst Upgrades and Downgrades

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

Origin Bancorp Price Performance

NYSE:OBK opened at $53.23 on Tuesday. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 16.63 and a beta of 0.72. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12. The company's 50-day moving average is $52.74 and its two-hundred day moving average is $47.58. Origin Bancorp, Inc. has a 12-month low of $32.13 and a 12-month high of $55.57.

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

Origin Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, August 14th. Origin Bancorp's payout ratio is presently 31.25%.

Origin Bancorp Profile

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.

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