Rafferty Asset Management LLC Purchases 9,009 Shares of Origin Bancorp, Inc. $OBK

Key Points

• Rafferty Asset Management LLC increased its stake in Origin Bancorp by 59.7%, purchasing an additional 9,009 shares, raising its total to 24,103 shares valued at approximately $836,000.
• Origin Bancorp recently declared a quarterly dividend of $0.15, with an annualized yield of 1.5% and a payout ratio of 26.79%.
• Several analysts have upgraded their price targets for Origin Bancorp to $45.00, reflecting a positive outlook with a consensus rating of "Buy."

Rafferty Asset Management LLC raised its stake in shares of Origin Bancorp, Inc. (NASDAQ:OBK - Free Report) by 59.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,103 shares of the company's stock after buying an additional 9,009 shares during the quarter. Rafferty Asset Management LLC owned about 0.08% of Origin Bancorp worth $836,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of OBK. Raymond James Financial Inc. purchased a new position in shares of Origin Bancorp in the fourth quarter valued at about $807,000. Mariner LLC increased its stake in shares of Origin Bancorp by 5.4% in the 4th quarter. Mariner LLC now owns 6,965 shares of the company's stock valued at $232,000 after purchasing an additional 356 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Origin Bancorp by 5.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,150,054 shares of the company's stock worth $38,285,000 after purchasing an additional 60,272 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Origin Bancorp by 118.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,930 shares of the company's stock valued at $697,000 after acquiring an additional 11,328 shares during the last quarter. Finally, Northern Trust Corp raised its position in 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. Institutional investors own 54.68% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on OBK shares. DA Davidson upped their price objective 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. Keefe, Bruyette & Woods increased their target price on shares of Origin Bancorp from $41.00 to $45.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Origin Bancorp has a consensus rating of "Buy" and an average price target of $43.20.

Origin Bancorp Price Performance

Shares of NASDAQ:OBK traded up $0.00 during trading on Wednesday, reaching $38.51. The company had a trading volume of 94,600 shares, compared to its average volume of 148,616. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 0.97. The firm's fifty day moving average is $37.32 and its 200 day moving average is $35.26. Origin Bancorp, Inc. has a twelve month low of $28.80 and a twelve month high of $41.17. The firm has a market capitalization of $1.20 billion, a PE ratio of 15.66 and a beta of 0.85.

Origin Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, August 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.6%. Origin Bancorp's payout ratio is currently 26.79%.

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.