Origin Bancorp (NASDAQ:OBK) Stock Price Down 4.7% - What's Next?

Key Points

• Origin Bancorp's shares fell by 4.7% to $36.01, with trading volume down 62% from average levels.
• Analysts have recently increased their price targets for the stock, with a consensus target now at $43.20 and multiple ratings indicating a "Buy" stance.
• The company declared a quarterly dividend of $0.15 per share, translating to an annualized yield of 1.7% and a payout ratio of 26.79%.

Origin Bancorp, Inc. (NASDAQ:OBK - Get Free Report)'s share price dropped 4.7% during mid-day trading on Thursday . The stock traded as low as $35.58 and last traded at $36.01. Approximately 56,385 shares changed hands during trading, a decline of 62% from the average daily volume of 147,173 shares. The stock had previously closed at $37.78.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on OBK. DA Davidson boosted their price objective on Origin Bancorp from $41.00 to $45.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Keefe, Bruyette & Woods boosted their price objective on Origin Bancorp from $41.00 to $45.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $43.20.

Origin Bancorp Trading Down 0.7%

The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 0.97. The business has a 50-day simple moving average of $37.37 and a two-hundred day simple moving average of $35.11. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 14.24 and a beta of 0.85.

Origin Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, August 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.7%. Origin Bancorp's dividend payout ratio is currently 26.79%.

Institutional Investors Weigh In On Origin Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC raised its stake in shares of Origin Bancorp by 44.8% during the 1st quarter. CWM LLC now owns 1,018 shares of the company's stock worth $35,000 after purchasing an additional 315 shares in the last quarter. Federated Hermes Inc. acquired a new stake in Origin Bancorp during the 1st quarter valued at $40,000. Nisa Investment Advisors LLC increased its position in Origin Bancorp by 46.7% during the 1st 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 period. Tower Research Capital LLC TRC increased its position in Origin Bancorp by 232.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,620 shares of the company's stock worth $94,000 after buying an additional 1,832 shares during the period. Finally, Comerica Bank increased its position in Origin Bancorp by 13.0% during the 4th quarter. Comerica Bank now owns 3,008 shares of the company's stock worth $100,000 after buying an additional 347 shares during the period. Institutional investors own 54.68% of the company's stock.

Origin Bancorp Company 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.