Dimensional Fund Advisors LP Buys 49,001 Shares of Origin Bancorp, Inc. $OBK

Key Points

• Dimensional Fund Advisors increased its Origin Bancorp stake by 3.6%, purchasing 49,001 shares to hold 1.43 million shares, or approximately 4.6% of the company. Institutional investors collectively own 54.68% of OBK.
• Analyst sentiment remains favorable, with five Buy ratings and two Holds giving Origin Bancorp a “Moderate Buy” consensus and an average price target of $55.00. DA Davidson recently raised its target to $62.00.
• Origin Bancorp exceeded quarterly earnings expectations, reporting EPS of $1.09 versus the $1.00 consensus estimate and $107.59 million in revenue. The company also declared a quarterly dividend of $0.25, representing a 1.8% annualized yield.

Dimensional Fund Advisors LP lifted its stake in shares of Origin Bancorp, Inc. (NYSE:OBK - Free Report) by 3.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,425,220 shares of the company's stock after purchasing an additional 49,001 shares during the period. Dimensional Fund Advisors LP owned approximately 4.60% of Origin Bancorp worth $59,089,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its holdings in shares of Origin Bancorp by 11.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 16,334 shares of the company's stock valued at $677,000 after purchasing an additional 1,682 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Origin Bancorp by 2.4% in the 1st quarter. Bank of New York Mellon Corp now owns 369,407 shares of the company's stock valued at $15,316,000 after buying an additional 8,810 shares during the last quarter. Fifth Third Bancorp acquired a new stake in shares of Origin Bancorp in the 1st quarter valued at $145,000. New York State Teachers Retirement System acquired a new stake in shares of Origin Bancorp in the 1st quarter valued at $114,000. Finally, Deprince Race & Zollo Inc. raised its position in shares of Origin Bancorp by 83.9% during the first quarter. Deprince Race & Zollo Inc. now owns 108,259 shares of the company's stock worth $4,488,000 after acquiring an additional 49,399 shares during the last quarter. 54.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

OBK has been the topic of several research reports. DA Davidson upped their price target on Origin Bancorp from $53.00 to $62.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Weiss Ratings restated a "buy (b)" rating on shares of Origin Bancorp in a report on Friday, July 24th. Stephens boosted their price target on shares of Origin Bancorp from $49.00 to $54.00 and gave the company an "overweight" rating in a report on Friday, April 24th. Raymond James Financial reiterated an "outperform" rating on shares of Origin Bancorp in a research report on Thursday, July 23rd. Finally, 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 note on Friday, July 24th. Five equities 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 currently has an average rating of "Moderate Buy" and an average price target of $55.00.

Origin Bancorp Price Performance

Shares of OBK opened at $54.67 on Friday. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 17.09 and a beta of 0.72. Origin Bancorp, Inc. has a 1-year low of $32.13 and a 1-year high of $55.57. The company's fifty day simple moving average is $50.53 and its 200 day simple moving average is $45.85. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.02.

Origin Bancorp (NYSE:OBK - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.09. The firm had revenue of $107.59 million for the quarter. Origin Bancorp had a net margin of 16.26% and a return on equity of 8.03%. On average, research analysts forecast that Origin Bancorp, Inc. will post 4.13 earnings per share for the current fiscal year.

Origin Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, August 14th. Origin Bancorp's dividend payout ratio is 31.25%.

About Origin Bancorp

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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