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

First Trust Advisors LP lowered its position in shares of Origin Bancorp, Inc. (NYSE:OBK - Free Report) by 37.0% in the 1st quarter, according to its most recent 13F filing 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 about 0.13% of Origin Bancorp worth $1,621,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in OBK. PNC Financial Services Group Inc. grew its holdings in Origin Bancorp by 42.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,509 shares of the company's stock worth $104,000 after purchasing an additional 751 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Origin Bancorp by 3.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,425,220 shares of the company's stock valued at $59,089,000 after purchasing an additional 49,001 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Origin Bancorp by 11.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 16,334 shares of the company's stock valued at $677,000 after acquiring an additional 1,682 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Origin Bancorp by 2.4% during 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 in the last quarter. Finally, Fifth Third Bancorp purchased a new position in Origin Bancorp during the first quarter valued at approximately $145,000. 54.68% of the stock is owned by hedge funds and other institutional investors.

Origin Bancorp Price Performance

Shares of Origin Bancorp stock traded down $0.25 during trading on Monday, reaching $53.00. The company's stock had a trading volume of 59,524 shares, compared to its average volume of 185,454. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.12. The business has a 50 day moving average price of $52.67 and a 200-day moving average price of $47.52. Origin Bancorp, Inc. has a 12-month low of $32.13 and a 12-month high of $55.57. The company has a market capitalization of $1.64 billion, a P/E ratio of 16.56 and a beta of 0.72.

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

Origin Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders 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 dividend yield of 1.9%. The ex-dividend date is Friday, August 14th. Origin Bancorp's dividend payout ratio is 31.25%.

Analyst Upgrades and Downgrades

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

About Origin Bancorp

Origin Bancorp, Inc NYSE: OBK is a bank holding company based in Ruston, Louisiana, 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.