T. Rowe Price Investment Management Inc. Has $70.08 Million Stock Position in Origin Bancorp, Inc. $OBK

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. lowered its stake in shares of Origin Bancorp, Inc. (NASDAQ:OBK - Free Report) by 20.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of OBK. LPL Financial LLC increased its position in shares of Origin Bancorp by 8.0% in the fourth quarter. LPL Financial LLC now owns 9,755 shares of the company's stock worth $325,000 after acquiring an additional 726 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Origin Bancorp by 11.7% during the 4th quarter. Wells Fargo & Company MN now owns 58,066 shares of the company's stock worth $1,933,000 after acquiring an additional 6,066 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Origin Bancorp by 7.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 62,408 shares of the company's stock worth $2,078,000 after acquiring an additional 4,553 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Origin Bancorp during the 4th quarter worth $807,000. Finally, Sterling Capital Management LLC boosted its holdings in shares of Origin Bancorp by 812.6% in the 4th quarter. Sterling Capital Management LLC now owns 940 shares of the company's stock valued at $31,000 after buying an additional 837 shares during the period. Hedge funds and other institutional investors own 54.68% of the company's stock.

Origin Bancorp Stock Down 0.6%

OBK stock traded down $0.2380 during trading hours on Monday, hitting $38.4420. The company's stock had a trading volume of 55,176 shares, compared to its average volume of 150,668. 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 company has a market capitalization of $1.20 billion, a PE ratio of 15.63 and a beta of 0.81. Origin Bancorp, Inc. has a 12 month low of $28.80 and a 12 month high of $41.17. The stock has a 50 day moving average price of $36.76 and a two-hundred day moving average price of $35.26.

Origin Bancorp Dividend Announcement

The company 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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, August 15th. Origin Bancorp's payout ratio is presently 26.79%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on OBK shares. DA Davidson lifted their price target 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. 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. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $43.20.

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.