King Luther Capital Management Corp Has $4.29 Million Position in Origin Bancorp, Inc. (NASDAQ:OBK)

Key Points

• King Luther Capital Management Corp has reduced its stake in Origin Bancorp, Inc. by 49.3%, now holding about 0.40% of the company worth $4.29 million.
• Several research firms have upgraded their ratings for Origin Bancorp, with analysts from Keefe, Bruyette & Woods and DA Davidson setting new price targets at $45.00, indicating positive market sentiment.
• Origin Bancorp declared a quarterly dividend of $0.15 to be paid on August 29th, translating to an annual dividend yield of 1.7% and a payout ratio of 26.79%.

King Luther Capital Management Corp reduced its stake in Origin Bancorp, Inc. (NASDAQ:OBK - Free Report) by 49.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 123,637 shares of the company's stock after selling 120,057 shares during the quarter. King Luther Capital Management Corp owned approximately 0.40% of Origin Bancorp worth $4,286,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its holdings 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 buying an additional 657 shares during the last quarter. Deutsche Bank AG lifted its holdings 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 buying an additional 18,836 shares during the last quarter. Vanguard Group Inc. lifted its holdings 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 buying an additional 34,456 shares during the last quarter. Natixis Advisors LLC lifted its holdings 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 buying an additional 890 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new position in shares of Origin Bancorp during the first quarter worth approximately $40,000. 54.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Origin Bancorp Stock Performance

Shares of OBK traded down $0.97 on Friday, reaching $36.54. 95,000 shares of the stock traded hands, compared to its average volume of 151,646. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 14.85 and a beta of 0.81. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.97 and a quick ratio of 0.97. Origin Bancorp, Inc. has a 12 month low of $28.80 and a 12 month high of $41.17. The stock's 50-day moving average price is $36.47 and its 200-day moving average price is $35.37.

Origin Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, August 15th. Origin Bancorp's dividend payout ratio is 26.79%.

About Origin Bancorp

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.