Linscomb Wealth Inc. Sells 9,598 Shares of Origin Bancorp, Inc. (NASDAQ:OBK)

Key Points

• Linscomb Wealth Inc. reduced its holdings in Origin Bancorp by 49.5% during the first quarter, leaving it with shares valued at $339,000.
• Origin Bancorp recently announced a quarterly dividend of $0.15 per share, resulting in an annualized dividend yield of 1.7%.
• Analysts have increased price targets for Origin Bancorp, with a consensus rating of "Buy" and an average target price of $43.20.

Linscomb Wealth Inc. cut its stake in Origin Bancorp, Inc. (NASDAQ:OBK - Free Report) by 49.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,773 shares of the company's stock after selling 9,598 shares during the period. Linscomb Wealth Inc.'s holdings in Origin Bancorp were worth $339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Nuveen LLC purchased a new stake in shares of Origin Bancorp during the first quarter worth $4,357,000. Invesco Ltd. increased its position in shares of Origin Bancorp by 1.2% during the first quarter. Invesco Ltd. now owns 57,405 shares of the company's stock worth $1,990,000 after acquiring an additional 657 shares during the period. Deutsche Bank AG increased its position in shares of Origin Bancorp by 70.2% during the first quarter. Deutsche Bank AG now owns 45,654 shares of the company's stock worth $1,583,000 after acquiring an additional 18,836 shares during the period. Vanguard Group Inc. increased its position in shares of Origin Bancorp by 2.1% during the first quarter. Vanguard Group Inc. now owns 1,674,138 shares of the company's stock worth $58,042,000 after acquiring an additional 34,456 shares during the period. Finally, Natixis Advisors LLC increased its position in shares of Origin Bancorp by 6.9% during the first quarter. Natixis Advisors LLC now owns 13,872 shares of the company's stock worth $481,000 after acquiring an additional 890 shares during the period. 54.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. DA Davidson raised their price target on Origin Bancorp from $41.00 to $45.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Keefe, Bruyette & Woods raised their price objective on shares of Origin Bancorp from $41.00 to $45.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Finally, Piper Sandler upgraded shares of Origin Bancorp from a "neutral" rating to an "overweight" rating in a research report on Thursday, April 24th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $43.20.

Origin Bancorp Stock Performance

Shares of OBK traded down $0.97 during trading hours on Friday, reaching $36.54. 95,000 shares of the company traded hands, compared to its average volume of 151,646. The stock's fifty day moving average is $36.47 and its 200 day moving average is $35.37. The stock has a market cap of $1.14 billion, a P/E ratio of 14.85 and a beta of 0.81. 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 1-year low of $28.80 and a 1-year high of $41.17.

Origin Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, August 15th. Origin Bancorp's dividend payout ratio is currently 26.79%.

Origin Bancorp Company 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.