Wellington Management Group LLP Cuts Stock Holdings in Origin Bancorp, Inc. (NASDAQ:OBK)

Wellington Management Group LLP lessened its holdings in shares of Origin Bancorp, Inc. (NASDAQ:OBK - Free Report) by 36.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,200 shares of the company's stock after selling 48,000 shares during the quarter. Wellington Management Group LLP owned approximately 0.26% of Origin Bancorp worth $2,736,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of Origin Bancorp by 5.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,150,054 shares of the company's stock worth $38,285,000 after acquiring an additional 60,272 shares in the last quarter. Royce & Associates LP boosted its holdings in Origin Bancorp by 1.6% in the fourth quarter. Royce & Associates LP now owns 977,088 shares of the company's stock worth $32,527,000 after purchasing an additional 15,196 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Origin Bancorp by 11.3% in the 4th quarter. American Century Companies Inc. now owns 600,925 shares of the company's stock worth $20,005,000 after buying an additional 61,240 shares during the last quarter. Rhino Investment Partners Inc purchased a new stake in shares of Origin Bancorp during the 4th quarter valued at about $15,077,000. Finally, Bank of New York Mellon Corp increased its holdings in Origin Bancorp by 156.7% during the fourth quarter. Bank of New York Mellon Corp now owns 319,919 shares of the company's stock valued at $10,650,000 after buying an additional 195,293 shares during the last quarter. Hedge funds and other institutional investors own 54.68% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on OBK shares. Keefe, Bruyette & Woods reduced their price target on Origin Bancorp from $44.00 to $41.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Stephens reiterated an "overweight" rating and issued a $45.00 price target on shares of Origin Bancorp in a research note on Thursday, March 20th. Piper Sandler raised shares of Origin Bancorp from a "neutral" rating to an "overweight" rating in a report on Thursday, April 24th. Finally, Raymond James lowered Origin Bancorp from a "strong-buy" rating to an "outperform" rating and dropped their price target for the stock from $44.00 to $39.00 in a research report on Wednesday, April 2nd. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $42.20.

Origin Bancorp Trading Up 0.8%

OBK traded up $0.28 during trading hours on Monday, reaching $34.89. 29,579 shares of the company's stock traded hands, compared to its average volume of 127,257. The firm has a 50-day moving average price of $32.32 and a 200 day moving average price of $34.78. 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 firm has a market capitalization of $1.09 billion, a PE ratio of 14.18 and a beta of 0.83. Origin Bancorp, Inc. has a 52-week low of $28.80 and a 52-week high of $41.17.

Origin Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were paid a $0.15 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.72%. Origin Bancorp's dividend payout ratio is currently 24.59%.

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.