BlackRock Inc. Takes $132.20 Million Position in Origin Bancorp, Inc. $OBK

BlackRock Inc. purchased a new position in shares of Origin Bancorp, Inc. (NYSE:OBK - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,584,470 shares of the company's stock, valued at approximately $132,196,000. BlackRock Inc. owned 8.36% of Origin Bancorp at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OBK. Vanguard Group Inc. lifted its position in Origin Bancorp by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 1,753,530 shares of the company's stock valued at $65,950,000 after buying an additional 37,050 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Origin Bancorp by 3.6% during the first 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 during the last quarter. State Street Corp increased its position in shares of Origin Bancorp by 1.2% during the fourth quarter. State Street Corp now owns 923,148 shares of the company's stock valued at $34,720,000 after acquiring an additional 10,741 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Origin Bancorp by 17.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 797,576 shares of the company's stock valued at $29,997,000 after acquiring an additional 116,410 shares during the period. Finally, Kennedy Capital Management LLC raised its stake in shares of Origin Bancorp by 13.5% in the 4th quarter. Kennedy Capital Management LLC now owns 706,235 shares of the company's stock valued at $26,561,000 after acquiring an additional 83,971 shares during the period. 54.68% of the stock is owned by institutional investors and hedge funds.

Origin Bancorp Stock Up 0.3%

Shares of Origin Bancorp stock opened at $53.34 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.12. Origin Bancorp, Inc. has a 52-week low of $32.13 and a 52-week high of $55.57. The company has a market capitalization of $1.65 billion, a P/E ratio of 16.67 and a beta of 0.72. The company has a 50 day moving average of $52.67 and a 200 day moving average of $47.51.

Origin Bancorp (NYSE:OBK - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.09. Origin Bancorp had a net margin of 16.26% and a return on equity of 7.97%. The company had revenue of $107.59 million for the quarter. As a group, research analysts forecast that Origin Bancorp, Inc. will post 4.13 EPS for the current fiscal year.

Origin Bancorp Dividend Announcement

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

Analysts Set New Price Targets

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

Origin Bancorp Company Profile

Origin Bancorp, Inc NYSE: OBK is a bank holding company based in Atlanta, Georgia, 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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