First Trust Advisors LP Reduces Position in Origin Bancorp, Inc. $OBK

Key Points

• First Trust Advisors LP cut its Origin Bancorp stake by 37% in the first quarter, selling 22,963 shares and retaining 39,109 shares valued at approximately $1.62 million. Institutional investors collectively own 54.68% of the company.
• Analyst sentiment remains positive: five analysts rate OBK a Buy and two rate it a Hold, producing a “Moderate Buy” consensus and an average price target of $58.00. Several firms recently raised their targets, including DA Davidson to $62.00 and Keefe, Bruyette & Woods to $60.00.
• Origin Bancorp reported quarterly EPS of $1.09, exceeding the $1.00 consensus estimate, and declared a quarterly dividend of $0.25, equivalent to a 1.9% annualized yield. Shares opened at $53.76, near the company’s 52-week high of $55.57.

First Trust Advisors LP decreased its position in shares of Origin Bancorp, Inc. (NYSE:OBK - Free Report) by 37.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,109 shares of the company's stock after selling 22,963 shares during the period. First Trust Advisors LP owned 0.13% of Origin Bancorp worth $1,621,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OBK. Vanguard Group Inc. grew its position in shares of Origin Bancorp by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 1,753,530 shares of the company's stock worth $65,950,000 after acquiring an additional 37,050 shares during 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 acquiring an additional 49,001 shares during the period. State Street Corp raised its position in 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 during the last quarter. Goldman Sachs Group Inc. raised its position in 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 purchasing an additional 116,410 shares during the last quarter. Finally, Kennedy Capital Management LLC boosted its stake in Origin Bancorp by 13.5% during the 4th quarter. Kennedy Capital Management LLC now owns 706,235 shares of the company's stock worth $26,561,000 after purchasing an additional 83,971 shares during the period. Hedge funds and other institutional investors own 54.68% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on OBK shares. Keefe, Bruyette & Woods raised their price objective on shares of Origin Bancorp from $57.00 to $60.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 4th. Raymond James Financial reaffirmed an "outperform" rating on shares of Origin Bancorp in a report on Thursday, July 23rd. Weiss Ratings downgraded shares of Origin Bancorp from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday. DA Davidson raised their price target on Origin Bancorp from $53.00 to $62.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Finally, Stephens boosted their price target on Origin Bancorp from $49.00 to $54.00 and gave the company an "overweight" rating in a research report on Friday, April 24th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Origin Bancorp has an average rating of "Moderate Buy" and an average price target of $58.00.

Origin Bancorp Stock Down 0.2%

OBK stock opened at $53.76 on Monday. Origin Bancorp, Inc. has a one year low of $32.13 and a one year high of $55.57. The stock has a market capitalization of $1.66 billion, a PE ratio of 16.80 and a beta of 0.72. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.98 and a current ratio of 0.98. The company has a fifty day moving average of $51.22 and a 200-day moving average of $46.40.

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

Origin Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, August 14th. Origin Bancorp's payout ratio is currently 31.25%.

Origin Bancorp 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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