Great Lakes Advisors LLC Has $4.12 Million Position in Origin Bancorp, Inc. $OBK

Key Points

• Great Lakes Advisors LLC reduced its stake in Origin Bancorp, Inc. by 15.9%, holding 118,773 shares valued at approximately $4.1 million.
• The company declared a quarterly dividend of $0.15 per share, which translates to an annualized dividend of $0.60 and a yield of 1.6%.
• Analysts have a consensus "Buy" rating for the stock, with a revised price target range of $41.00 to $45.00.

Great Lakes Advisors LLC cut its stake in Origin Bancorp, Inc. (NASDAQ:OBK - Free Report) by 15.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,773 shares of the company's stock after selling 22,429 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.38% of Origin Bancorp worth $4,118,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Origin Bancorp by 2.1% in the first quarter. Vanguard Group Inc. now owns 1,674,138 shares of the company's stock valued at $58,042,000 after purchasing an additional 34,456 shares during the period. American Century Companies Inc. raised its position in shares of Origin Bancorp by 12.3% in the first quarter. American Century Companies Inc. now owns 674,593 shares of the company's stock valued at $23,388,000 after purchasing an additional 73,668 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Origin Bancorp by 3.2% in the first quarter. Goldman Sachs Group Inc. now owns 653,589 shares of the company's stock valued at $22,660,000 after purchasing an additional 20,146 shares during the period. Rhino Investment Partners Inc raised its position in shares of Origin Bancorp by 10.0% in the first quarter. Rhino Investment Partners Inc now owns 498,214 shares of the company's stock valued at $17,273,000 after purchasing an additional 45,317 shares during the period. Finally, Northern Trust Corp raised its position in shares of Origin Bancorp by 7.3% in the fourth quarter. Northern Trust Corp now owns 274,489 shares of the company's stock valued at $9,138,000 after purchasing an additional 18,654 shares during the period. 54.68% of the stock is owned by institutional investors.

Origin Bancorp Price Performance

Origin Bancorp stock traded up $0.03 during trading hours on Friday, reaching $35.39. 334,894 shares of the stock were exchanged, compared to its average volume of 151,898. The company has a market cap of $1.11 billion, a P/E ratio of 14.39 and a beta of 0.85. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. Origin Bancorp, Inc. has a twelve month low of $28.80 and a twelve month high of $41.17. The stock has a 50 day moving average of $37.42 and a two-hundred day moving average of $35.16.

Origin Bancorp Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.