Origin Bancorp, Inc. (NYSE:OBK) Sees Large Growth in Short Interest

Key Points

• Short interest rose 32.2% to 570,732 shares as of March 31, representing about 1.9% of shares outstanding and a days-to-cover of 3.1 based on average volume.
• Shares traded at $45.89 (near a 12‑month high of $46.64) with a $1.42B market cap and a PE of 19.12; the company beat Q earnings with $0.95 EPS and pays a $0.15 quarterly dividend (annualized $0.60, yield 1.3%).
• Consensus analyst stance is a "Moderate Buy" with a $46.67 price target, and institutional investors (about 54.7% ownership) including Goldman Sachs, UBS and Jane Street have recently increased holdings.

Origin Bancorp, Inc. (NYSE:OBK - Get Free Report) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totaling 570,732 shares, a growth of 32.2% from the March 15th total of 431,569 shares. Approximately 1.9% of the shares of the company are sold short. Based on an average daily volume of 183,373 shares, the days-to-cover ratio is currently 3.1 days.

Origin Bancorp Price Performance

Origin Bancorp stock traded up $1.14 during mid-day trading on Friday, reaching $45.89. 208,758 shares of the company were exchanged, compared to its average volume of 210,366. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.97 and a quick ratio of 0.97. Origin Bancorp has a 12 month low of $29.77 and a 12 month high of $46.64. The firm has a market cap of $1.42 billion, a PE ratio of 19.12 and a beta of 0.68. The company has a fifty day simple moving average of $42.48 and a 200-day simple moving average of $39.05.

Origin Bancorp (NYSE:OBK - Get Free Report) last released its earnings results on Wednesday, January 28th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.88 by $0.07. Origin Bancorp had a net margin of 12.58% and a return on equity of 6.21%. The firm had revenue of $94.00 million for the quarter.

Origin Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, February 13th. Origin Bancorp's dividend payout ratio (DPR) is currently 25.00%.

Analyst Ratings Changes

Several brokerages have recently weighed in on OBK. DA Davidson set a $49.00 price objective on shares of Origin Bancorp in a research report on Friday, January 30th. Weiss Ratings raised shares of Origin Bancorp from a "hold (c)" rating to a "buy (b-)" rating in a research report on Monday, March 2nd. Keefe, Bruyette & Woods increased their price objective on shares of Origin Bancorp from $43.00 to $48.00 and gave the company an "outperform" rating in a research report on Monday, February 2nd. Finally, Zacks Research raised shares of Origin Bancorp from a "strong sell" rating to a "hold" rating in a research report on Monday, January 26th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Origin Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.67.

Hedge Funds Weigh In On Origin Bancorp

Several hedge funds have recently bought and sold shares of OBK. AQR Capital Management LLC increased its holdings in Origin Bancorp by 50.5% in the 1st quarter. AQR Capital Management LLC now owns 39,056 shares of the company's stock valued at $1,354,000 after buying an additional 13,107 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Origin Bancorp by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,460 shares of the company's stock valued at $605,000 after buying an additional 775 shares during the period. Goldman Sachs Group Inc. increased its holdings in Origin Bancorp by 3.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 653,589 shares of the company's stock valued at $22,660,000 after buying an additional 20,146 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Origin Bancorp by 49.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,849 shares of the company's stock valued at $2,491,000 after buying an additional 23,906 shares during the period. Finally, Jane Street Group LLC increased its holdings in Origin Bancorp by 97.9% in the 1st quarter. Jane Street Group LLC now owns 117,954 shares of the company's stock valued at $4,089,000 after buying an additional 58,340 shares during the period. 54.68% of the stock is owned by institutional investors.

About Origin Bancorp

Origin Bancorp, Inc NYSE: OBK is a bank holding company based in Atlanta, Georgia, and is the parent of Origin Bank, a full-service commercial banking franchise. The company provides a broad range of financial products and services to individuals, small and middle-market businesses, and institutional clients across the southeastern United States.

Through Origin Bank, the company offers a variety of deposit products, including checking and savings accounts, money market accounts, and certificates of deposit.

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