Vanguard Group Inc. Acquires 34,456 Shares of Origin Bancorp, Inc. $OBK

Key Points

• Vanguard Group Inc. increased its stake in Origin Bancorp by 2.1%, acquiring an additional 34,456 shares, bringing its total ownership to approximately 5.36% valued at $58,042,000.
• Analysts have raised their price targets for Origin Bancorp, with several institutions rating the stock as a "Buy" and a consensus target price of $43.20.
• Origin Bancorp recently declared a quarterly dividend of $0.15, resulting in an annualized dividend yield of 1.5%.

Vanguard Group Inc. increased its stake in shares of Origin Bancorp, Inc. (NASDAQ:OBK - Free Report) by 2.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,674,138 shares of the company's stock after purchasing an additional 34,456 shares during the quarter. Vanguard Group Inc. owned about 5.36% of Origin Bancorp worth $58,042,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. CWM LLC grew its stake in shares of Origin Bancorp by 44.8% during the first quarter. CWM LLC now owns 1,018 shares of the company's stock valued at $35,000 after purchasing an additional 315 shares during the last quarter. Comerica Bank grew its stake in shares of Origin Bancorp by 13.0% during 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 last quarter. Mariner LLC raised its stake in shares of Origin Bancorp by 5.4% during the fourth quarter. Mariner LLC now owns 6,965 shares of the company's stock worth $232,000 after buying an additional 356 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Origin Bancorp by 46.7% during the first quarter. Nisa Investment Advisors LLC now owns 1,257 shares of the company's stock worth $44,000 after buying an additional 400 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of Origin Bancorp by 7.1% during the first quarter. New York State Common Retirement Fund now owns 9,046 shares of the company's stock worth $314,000 after buying an additional 600 shares during the last quarter. 54.68% of the stock is owned by institutional investors.

Origin Bancorp Trading Down 0.1%

Origin Bancorp stock traded down $0.02 during midday trading on Friday, hitting $38.89. 105,540 shares of the stock were exchanged, compared to its average volume of 149,324. The company has a fifty day simple moving average of $37.13 and a two-hundred day simple moving average of $35.29. Origin Bancorp, Inc. has a 52 week low of $28.80 and a 52 week high of $41.17. The stock has a market capitalization of $1.21 billion, a PE ratio of 15.81 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 15th. Origin Bancorp's dividend payout ratio is presently 26.79%.

Wall Street Analysts Forecast Growth

OBK has been the subject of a number of recent research reports. DA Davidson boosted their price target on shares of Origin Bancorp from $41.00 to $45.00 and gave the stock a "buy" rating in a research note 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 note on Monday, July 28th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $43.20.

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.