Argent Advisors Inc. grew its stake in Origin Bancorp, Inc. (NASDAQ:OBK - Free Report) by 870.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 109,767 shares of the company's stock after purchasing an additional 98,454 shares during the period. Origin Bancorp makes up approximately 1.3% of Argent Advisors Inc.'s holdings, making the stock its 18th largest holding. Argent Advisors Inc. owned approximately 0.35% of Origin Bancorp worth $3,806,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of OBK. Rhino Investment Partners Inc acquired a new position in shares of Origin Bancorp in the 4th quarter worth approximately $15,077,000. Bank of New York Mellon Corp raised its position in Origin Bancorp by 156.7% in the 4th quarter. Bank of New York Mellon Corp now owns 319,919 shares of the company's stock worth $10,650,000 after purchasing an additional 195,293 shares during the last quarter. Deprince Race & Zollo Inc. bought a new position in Origin Bancorp in the 4th quarter worth approximately $3,836,000. Russell Investments Group Ltd. raised its position in Origin Bancorp by 67.7% in the 4th quarter. Russell Investments Group Ltd. now owns 171,505 shares of the company's stock worth $5,709,000 after purchasing an additional 69,241 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Origin Bancorp by 85.1% in the 4th quarter. JPMorgan Chase & Co. now owns 135,115 shares of the company's stock worth $4,498,000 after purchasing an additional 62,129 shares during the last quarter. 54.68% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
OBK has been the subject of several recent research reports. Raymond James Financial cut shares of Origin Bancorp from a "strong-buy" rating to an "outperform" rating and dropped their target price for the company from $44.00 to $39.00 in a research report on Wednesday, April 2nd. Stephens reiterated an "overweight" rating and set a $45.00 target price on shares of Origin Bancorp in a research report on Thursday, March 20th. Piper Sandler upgraded shares of Origin Bancorp from a "neutral" rating to an "overweight" rating in a research report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Origin Bancorp from $44.00 to $41.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $42.20.
Check Out Our Latest Report on OBK
Origin Bancorp Price Performance
Shares of OBK stock opened at $35.89 on Monday. Origin Bancorp, Inc. has a 12-month low of $28.80 and a 12-month high of $41.17. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 14.59 and a beta of 0.83. 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 firm has a fifty day moving average of $33.68 and a 200-day moving average of $34.73.
Origin Bancorp Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 15th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Thursday, May 15th. Origin Bancorp's payout ratio is presently 24.59%.
Origin Bancorp Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding OBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Origin Bancorp, Inc. (NASDAQ:OBK - Free Report).
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