Russell Investments Group Ltd. Raises Stake in Origin Bancorp, Inc. $OBK

Key Points

• Russell Investments Group Ltd. increased its stake in Origin Bancorp, Inc. by 27.6%, holding 218,797 shares valued at approximately $7.59 million.
• Origin Bancorp plans to pay a quarterly dividend of $0.15 on August 29th, with a current annualized yield of 1.6%.
• Wall Street analysts have a consensus Buy rating for Origin Bancorp, with a revised average price target of $43.20.

Russell Investments Group Ltd. boosted its holdings in shares of Origin Bancorp, Inc. (NASDAQ:OBK - Free Report) by 27.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 218,797 shares of the company's stock after purchasing an additional 47,292 shares during the period. Russell Investments Group Ltd. owned about 0.70% of Origin Bancorp worth $7,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OBK. Advisor Resource Council purchased a new position in shares of Origin Bancorp during the 1st quarter valued at approximately $377,000. Price T Rowe Associates Inc. MD grew its position in Origin Bancorp by 118.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,930 shares of the company's stock valued at $697,000 after buying an additional 11,328 shares during the period. Deutsche Bank AG increased its holdings in Origin Bancorp by 58.4% in the fourth quarter. Deutsche Bank AG now owns 26,818 shares of the company's stock valued at $893,000 after buying an additional 9,887 shares in the last quarter. Jackson Creek Investment Advisors LLC acquired a new position in shares of Origin Bancorp in the first quarter worth about $1,487,000. Finally, Argent Advisors Inc. boosted its stake 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 acquiring an additional 98,454 shares in the last quarter. 54.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Origin Bancorp Trading Up 4.3%

NASDAQ:OBK traded up $1.5980 during trading hours on Friday, reaching $38.6980. 188,707 shares of the stock were exchanged, compared to its average volume of 151,265. 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 business has a 50-day moving average of $36.68 and a two-hundred day moving average of $35.33. Origin Bancorp, Inc. has a twelve month low of $28.80 and a twelve month high of $41.17. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 15.73 and a beta of 0.81.

Origin Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.6%. Origin Bancorp's dividend payout ratio (DPR) 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.