7,900 Shares in Origin Bancorp, Inc. $OBK Bought by Virtus Advisers LLC

Key Points

• Virtus Advisers LLC acquired a new stake in Origin Bancorp, purchasing 7,900 shares valued at approximately $274,000 in the first quarter.
• Origin Bancorp recently announced a quarterly dividend of $0.15 per share, with a yield of 1.6%, set to be paid on August 29th.
• Brokerage firms have expressed positive sentiment, raising the price target for Origin Bancorp to $45.00 and giving it a consensus rating of “Buy.”

Virtus Advisers LLC bought a new stake in Origin Bancorp, Inc. (NASDAQ:OBK - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 7,900 shares of the company's stock, valued at approximately $274,000.

A number of other large investors have also recently made changes to their positions in the company. Rhino Investment Partners Inc purchased a new position in Origin Bancorp in the fourth quarter worth approximately $15,077,000. Hotchkis & Wiley Capital Management LLC purchased a new position in Origin Bancorp in the first quarter worth approximately $8,637,000. Nuveen LLC purchased a new position in Origin Bancorp in the first quarter worth approximately $4,357,000. Deprince Race & Zollo Inc. purchased a new position in Origin Bancorp in the fourth quarter worth approximately $3,836,000. Finally, Argent Advisors Inc. lifted its stake in Origin Bancorp by 870.3% in the first 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 during the last quarter. 54.68% of the stock is currently owned by hedge funds and other institutional investors.

Origin Bancorp Stock Performance

Shares of Origin Bancorp stock traded down $0.02 during trading hours on Friday, hitting $38.89. 105,540 shares of the company were exchanged, compared to its average volume of 149,324. Origin Bancorp, Inc. has a 1 year low of $28.80 and a 1 year high of $41.17. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average of $37.03 and a 200-day moving average of $35.31. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 15.81 and a beta of 0.81.

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 paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, August 15th. Origin Bancorp's dividend payout ratio is 26.79%.

Analyst Ratings Changes

Several research firms recently weighed in on OBK. Keefe, Bruyette & Woods boosted their target price on Origin Bancorp from $41.00 to $45.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. DA Davidson boosted their target price on Origin Bancorp from $41.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Five analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus 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.