Northern Trust Corp Sells 10,426 Shares of Origin Bancorp, Inc. $OBK

Key Points

• Northern Trust Corp has decreased its stake in Origin Bancorp, Inc. by 3.8% in Q1, now holding 264,063 shares valued at approximately $9.16 million.
• Origin Bancorp recently declared a quarterly dividend of $0.15 per share, with a dividend yield of 1.6% and a payout ratio of 26.79%.
• Analysts have upgraded their price target for Origin Bancorp to $45.00, with a consensus rating of "Buy" from multiple brokerages.

Northern Trust Corp trimmed its stake in Origin Bancorp, Inc. (NASDAQ:OBK - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 264,063 shares of the company's stock after selling 10,426 shares during the period. Northern Trust Corp owned about 0.85% of Origin Bancorp worth $9,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Origin Bancorp by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 1,674,138 shares of the company's stock valued at $58,042,000 after buying an additional 34,456 shares during the period. American Century Companies Inc. boosted its position in Origin Bancorp by 12.3% in the 1st quarter. American Century Companies Inc. now owns 674,593 shares of the company's stock valued at $23,388,000 after buying an additional 73,668 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Origin Bancorp by 27.6% in the 1st quarter. Russell Investments Group Ltd. now owns 218,797 shares of the company's stock worth $7,586,000 after purchasing an additional 47,292 shares during the period. Nuveen LLC purchased a new stake in shares of Origin Bancorp in the 1st quarter worth approximately $4,357,000. Finally, Deprince Race & Zollo Inc. purchased a new stake in shares of Origin Bancorp in the 4th quarter worth approximately $3,836,000. 54.68% of the stock is owned by hedge funds and other institutional investors.

Origin Bancorp Stock Down 6.7%

Shares of NASDAQ OBK traded down $2.53 during trading hours on Thursday, hitting $35.25. 665,843 shares of the stock were exchanged, compared to its average volume of 150,840. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.10 billion, a PE ratio of 14.33 and a beta of 0.84. The firm has a fifty day moving average price of $37.47 and a 200-day moving average price of $35.20. Origin Bancorp, Inc. has a 12 month low of $28.80 and a 12 month high of $41.17.

Origin Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, August 15th. Origin Bancorp's payout ratio is 26.79%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on OBK shares. DA Davidson upped their price target on shares of Origin Bancorp from $41.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Keefe, Bruyette & Woods upped their price target on shares of Origin Bancorp from $41.00 to $45.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $43.20.

Origin Bancorp 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.