T. Rowe Price Investment Management Inc. Sells 187,218 Shares of Origin Bancorp, Inc. (NASDAQ:OBK)

T. Rowe Price Investment Management Inc. trimmed its holdings in Origin Bancorp, Inc. (NASDAQ:OBK - Free Report) by 6.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,550,352 shares of the company's stock after selling 187,218 shares during the period. T. Rowe Price Investment Management Inc. owned 8.18% of Origin Bancorp worth $84,902,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in OBK. Sterling Capital Management LLC raised its holdings in shares of Origin Bancorp by 812.6% during the 4th quarter. Sterling Capital Management LLC now owns 940 shares of the company's stock worth $31,000 after buying an additional 837 shares in the last quarter. Brooklyn Investment Group acquired a new position in Origin Bancorp in the 4th quarter worth about $48,000. KLP Kapitalforvaltning AS acquired a new position in Origin Bancorp in the 4th quarter worth about $183,000. Quantbot Technologies LP increased its holdings in Origin Bancorp by 115.5% in the 4th quarter. Quantbot Technologies LP now owns 5,831 shares of the company's stock worth $194,000 after purchasing an additional 3,125 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in Origin Bancorp in the 4th quarter worth about $219,000. Institutional investors and hedge funds own 54.68% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on OBK. Stephens reaffirmed an "overweight" rating and issued a $45.00 target price on shares of Origin Bancorp in a report on Thursday, March 20th. DA Davidson increased their price target on Origin Bancorp from $41.00 to $44.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods decreased their price target on Origin Bancorp from $44.00 to $41.00 and set an "outperform" rating for the company in a research note on Monday. Raymond James lowered Origin Bancorp from a "strong-buy" rating to an "outperform" rating and cut their target price for the company from $44.00 to $39.00 in a research report on Wednesday, April 2nd. Finally, Piper Sandler upgraded Origin Bancorp from a "neutral" rating to an "overweight" rating in a research report on Thursday, April 24th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $42.20.

Origin Bancorp Price Performance

Shares of Origin Bancorp stock traded up $0.08 on Thursday, reaching $32.12. The stock had a trading volume of 26,772 shares, compared to its average volume of 122,170. The business's 50 day moving average is $33.78 and its two-hundred day moving average is $34.67. The company has a market cap of $1.00 billion, a P/E ratio of 13.07 and a beta of 0.78. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. Origin Bancorp, Inc. has a 1 year low of $28.80 and a 1 year high of $41.17.

Origin Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Thursday, May 15th. Origin Bancorp's dividend payout ratio (DPR) is presently 24.59%.

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.