Origin Bancorp, Inc. $OBK Shares Sold by Great Lakes Advisors LLC

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

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Advisor Resource Council purchased a new stake in Origin Bancorp during the first quarter valued at approximately $377,000. Rafferty Asset Management LLC raised its holdings in shares of Origin Bancorp by 59.7% in the first quarter. Rafferty Asset Management LLC now owns 24,103 shares of the company's stock worth $836,000 after buying an additional 9,009 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Origin Bancorp by 27.6% in the first quarter. Russell Investments Group Ltd. now owns 218,797 shares of the company's stock worth $7,586,000 after buying an additional 47,292 shares during the last quarter. Curi RMB Capital LLC raised its holdings in shares of Origin Bancorp by 5.0% in the first quarter. Curi RMB Capital LLC now owns 210,000 shares of the company's stock worth $7,281,000 after buying an additional 10,000 shares during the last quarter. Finally, Rhino Investment Partners Inc raised its holdings 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 worth $17,273,000 after buying an additional 45,317 shares during the last quarter. Hedge funds and other institutional investors own 54.68% of the company's stock.

Analysts Set New Price Targets

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

Origin Bancorp Stock Performance

OBK stock traded down $0.19 during midday trading on Monday, hitting $35.22. 87,352 shares of the stock traded hands, compared to its average volume of 151,278. The firm has a market cap of $1.10 billion, a P/E ratio of 14.34 and a beta of 0.85. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.97 and a quick ratio of 0.97. The stock's fifty day simple moving average is $37.42 and its 200-day simple moving average is $35.14. Origin Bancorp, Inc. has a 1-year low of $28.80 and a 1-year high of $41.17.

Origin Bancorp Announces Dividend

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

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.