Origin Bancorp, Inc. (NASDAQ:OBK) Shares Sold by Millennium Management LLC

Millennium Management LLC cut its stake in Origin Bancorp, Inc. (NASDAQ:OBK - Free Report) by 42.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,336 shares of the company's stock after selling 35,058 shares during the period. Millennium Management LLC owned approximately 0.16% of Origin Bancorp worth $1,609,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Barclays PLC lifted its position in Origin Bancorp by 79.9% during the third quarter. Barclays PLC now owns 78,187 shares of the company's stock valued at $2,515,000 after buying an additional 34,733 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in Origin Bancorp during the fourth quarter valued at $219,000. Empowered Funds LLC increased its stake in Origin Bancorp by 5.0% during the fourth quarter. Empowered Funds LLC now owns 89,789 shares of the company's stock valued at $2,989,000 after purchasing an additional 4,304 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Origin Bancorp by 156.7% during the fourth quarter. Bank of New York Mellon Corp now owns 319,919 shares of the company's stock valued at $10,650,000 after purchasing an additional 195,293 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Origin Bancorp by 12.4% during the fourth quarter. US Bancorp DE now owns 6,683 shares of the company's stock valued at $222,000 after acquiring an additional 736 shares during the period. 54.68% of the stock is owned by institutional investors and hedge funds.

Origin Bancorp Price Performance

NASDAQ OBK traded down $0.55 on Wednesday, reaching $33.84. The company's stock had a trading volume of 305,612 shares, compared to its average volume of 126,608. Origin Bancorp, Inc. has a twelve month low of $28.80 and a twelve month high of $41.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market cap of $1.05 billion, a PE ratio of 13.76 and a beta of 0.79. The firm's 50 day moving average is $32.35 and its two-hundred day moving average is $34.77.

Origin Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend was Thursday, May 15th. Origin Bancorp's payout ratio is 24.59%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Raymond James downgraded shares of Origin Bancorp from a "strong-buy" rating to an "outperform" rating and reduced their price target for the company from $44.00 to $39.00 in a report on Wednesday, April 2nd. Stephens reaffirmed an "overweight" rating and issued a $45.00 price objective on shares of Origin Bancorp in a report on Thursday, March 20th. Keefe, Bruyette & Woods reduced their price objective on shares of Origin Bancorp from $44.00 to $41.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Finally, Piper Sandler raised shares of Origin Bancorp from a "neutral" rating to an "overweight" rating in a report on Thursday, April 24th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $42.20.

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.