Bank of New York Mellon Corp Sells 30,885 Shares of Origin Bancorp, Inc. (NASDAQ:OBK)

Bank of New York Mellon Corp trimmed its holdings in Origin Bancorp, Inc. (NASDAQ:OBK - Free Report) by 9.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 289,034 shares of the company's stock after selling 30,885 shares during the quarter. Bank of New York Mellon Corp owned about 0.93% of Origin Bancorp worth $10,021,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Argent Advisors Inc. raised its holdings in Origin Bancorp by 870.3% during the 1st quarter. Argent Advisors Inc. now owns 109,767 shares of the company's stock worth $3,806,000 after purchasing an additional 98,454 shares during the last quarter. Advisor Resource Council bought a new stake in Origin Bancorp during the 1st quarter worth about $377,000. SG Americas Securities LLC raised its holdings in Origin Bancorp by 125.5% during the 1st quarter. SG Americas Securities LLC now owns 10,763 shares of the company's stock worth $373,000 after purchasing an additional 5,991 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in Origin Bancorp by 25.6% during the 1st quarter. Harbor Capital Advisors Inc. now owns 9,664 shares of the company's stock worth $335,000 after purchasing an additional 1,969 shares during the last quarter. Finally, Chickasaw Capital Management LLC bought a new stake in Origin Bancorp during the 1st quarter worth about $750,000. 54.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

OBK has been the subject of several recent research reports. Raymond James Financial cut Origin Bancorp from a "strong-buy" rating to an "outperform" rating and dropped their price objective for the stock from $44.00 to $39.00 in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods decreased their target price on Origin Bancorp from $44.00 to $41.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Finally, Piper Sandler upgraded Origin Bancorp from a "neutral" rating to an "overweight" rating in a research report on Thursday, April 24th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $42.20.

Origin Bancorp Stock Up 0.1%

NASDAQ OBK traded up $0.04 during trading on Friday, hitting $37.51. The stock had a trading volume of 132,503 shares, compared to its average volume of 151,669. The company has a market capitalization of $1.17 billion, a PE ratio of 15.25 and a beta of 0.83. The company's 50-day moving average price is $35.68 and its two-hundred day moving average price is $35.24. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 0.97. Origin Bancorp, Inc. has a 12 month low of $28.80 and a 12 month high of $41.17.

Origin Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Friday, August 15th. Origin Bancorp's dividend payout ratio is currently 26.79%.

Origin Bancorp Profile

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.