King Luther Capital Management Corp Reduces 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 decreased its position in shares of Origin Bancorp, Inc. (NASDAQ:OBK - Free Report) by 49.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (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 about 0.40% of Origin Bancorp worth $4,286,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rhino Investment Partners Inc acquired a new position in shares of Origin Bancorp in the fourth quarter valued at $15,077,000. Deprince Race & Zollo Inc. acquired a new stake in Origin Bancorp during the 4th quarter valued at approximately $3,836,000. Argent Advisors Inc. grew its position in shares of Origin Bancorp by 870.3% during the 1st quarter. Argent Advisors Inc. now owns 109,767 shares of the company's stock worth $3,806,000 after buying an additional 98,454 shares during the period. Russell Investments Group Ltd. lifted its stake in Origin Bancorp by 67.7% during the 4th quarter. Russell Investments Group Ltd. now owns 171,505 shares of the company's stock valued at $5,709,000 after acquiring an additional 69,241 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Origin Bancorp by 85.1% during the 4th quarter. JPMorgan Chase & Co. now owns 135,115 shares of the company's stock valued at $4,498,000 after acquiring an additional 62,129 shares in the last quarter. Institutional investors own 54.68% of the company's stock.

Analyst Ratings Changes

OBK has been the subject of several recent research reports. Keefe, Bruyette & Woods lifted their price objective on Origin Bancorp from $41.00 to $45.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Piper Sandler upgraded Origin Bancorp from a "neutral" rating to an "overweight" rating in a research report on Thursday, April 24th. Finally, 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. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $43.20.

Origin Bancorp Price Performance

NASDAQ:OBK traded down $0.05 during trading hours on Thursday, hitting $37.49. 105,529 shares of the stock traded hands, compared to its average volume of 152,014. Origin Bancorp, Inc. has a 1 year low of $28.80 and a 1 year high of $41.17. 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 $1.17 billion, a price-to-earnings ratio of 15.24 and a beta of 0.81. The stock has a 50 day moving average price of $36.43 and a 200 day moving average price of $35.38.

Origin Bancorp Announces Dividend

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