Origin Bancorp, Inc. $OBK Shares Sold by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. has reduced its holdings in Origin Bancorp, Inc. by 20.7%, selling 528,960 shares to own approximately 6.49% of the company, valued at $70 million.
• Several institutional investors increased their positions in Origin Bancorp, with Sterling Capital Management raising its stake by 812.6% in the last quarter.
• Origin Bancorp announced a quarterly dividend of $0.15 per share, which reflects a 1.6% dividend yield and is set to be paid on August 29th.

T. Rowe Price Investment Management Inc. reduced its stake in Origin Bancorp, Inc. (NASDAQ:OBK - Free Report) by 20.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,021,392 shares of the company's stock after selling 528,960 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 6.49% of Origin Bancorp worth $70,082,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sterling Capital Management LLC lifted its holdings in Origin Bancorp by 812.6% during the fourth quarter. Sterling Capital Management LLC now owns 940 shares of the company's stock worth $31,000 after buying an additional 837 shares during the period. CWM LLC lifted its holdings in shares of Origin Bancorp by 44.8% in the 1st quarter. CWM LLC now owns 1,018 shares of the company's stock valued at $35,000 after buying an additional 315 shares during the period. Federated Hermes Inc. acquired a new stake in shares of Origin Bancorp during the 1st quarter worth approximately $40,000. Nisa Investment Advisors LLC raised its position in shares of Origin Bancorp by 46.7% in the first quarter. Nisa Investment Advisors LLC now owns 1,257 shares of the company's stock worth $44,000 after acquiring an additional 400 shares during the period. Finally, Comerica Bank grew its holdings in Origin Bancorp by 13.0% in the fourth quarter. Comerica Bank now owns 3,008 shares of the company's stock valued at $100,000 after purchasing an additional 347 shares during the period. 54.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Origin Bancorp Trading Down 0.1%

Shares of OBK stock traded down $0.03 during mid-day trading on Thursday, reaching $38.94. The company's stock had a trading volume of 24,059 shares, compared to its average volume of 149,158. The firm has a market capitalization of $1.22 billion, a PE ratio of 15.86 and a beta of 0.81. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.17. Origin Bancorp, Inc. has a 12-month low of $28.80 and a 12-month high of $41.17. The company's 50 day simple moving average is $36.94 and its 200-day simple moving average is $35.31.

Origin Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given 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 dividend yield of 1.5%. 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.